Local Govt | National News Video | Parliament Headlines | Politics Headlines | Search

 


NZ a great place to live but …


NZ a great place to live but …

Survey suggests Kiwis are letting their hearts rule their wallets

While an overwhelming number of Kiwis are proud to be living in New Zealand, many doubt it is the smart thing to do financially, according to a survey released today.

Of the 2,000 polled in Westpac’s Waitangi Day Kiwi Perspectives survey*, 93% said they were proud to be living in New Zealand and more than half felt the economy is improving. However, asked about their own financial position, 46% said they were feeling the financial pinch or were over-committed and respondents were split on whether the economy provided the opportunities to be financially independent and have the career they want.

That uncertainty was also reflected in an emphasis on saving. Two thirds of respondents nominate increasing their savings as one of their main financial goals, and 90% are not considering any personal borrowing (not including home loans) in the coming year.

Mark Fitz-Gerald, Westpac’s General Manager of Business Banking, said adopting and acting on the savings message was a good change in the Kiwi culture, but the country cannot afford to forget that investing for growth was needed to create a step change in the economy.

“It’s encouraging to see that Kiwis are increasingly determined to live within their means and that they are seeing some patches of sunlight in the economy. But if we want to see that optimism sustained, and justified, then in the not too distant future we need to move to the sort of environment where people believe they can create wealth and help the economy to grow,” he said.

The survey also reflected the significant part housing plays in New Zealand’s financial landscape, with respondents at odds with those who say it has a negative impact on the economy. Asked if they felt there was too much emphasis on owning your own home in New Zealand 54% said no; when asked their main financial goals for 2013, 1 in 10 said buying a house and 25% said paying down their mortgage.

Thirty percent of respondents felt supporting local businesses was the best thing they could do to help strengthen the New Zealand economy, while global market issues were regarded as the single biggest economic issue the country faced.

Fitz-Gerald said the global financial crisis had taught many lessons which had been taken onboard. Kiwis now needed to have faith in the country’s economic potential and start working towards a future based on sustainable financial growth.

Fast facts
• 53% think the economy is improving or strong
• 30% feel buying NZ made and from NZ businesses is the most important thing they can do to strengthen the economy
• 46% feel they are either financially tight with little flexibility or over committed
• 50% rate the opportunities to be financially independent in NZ as average to very poor; 50% rate them good or very good
• 52% rate the opportunity in NZ to have the career they want as average to very poor
• 90% say they do not plan to take out any personal borrowing from a bank this year (home loans excluded)
• 42% say saving more is one of their main financial goals for 2013; a further 22% nominate increasing their retirement savings

*online survey of 2000 NZers

© Scoop Media

 
 
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

Parliament Today: State Opening Of Parliament

The House sits at 10.30am today before MPs are summoned to hear the Speech from the Throne in the Legislative Council Chamber.

The speech delivered by the Governor-General on the Government’s behalf outlines its priorities for this Parliament.

After this MPs will return to the House for the presentation of petitions and papers and the introduction of any bills.

The Government has five notices of motion on the Order Paper which can be debated. These relate to relating to the appointment of the Deputy Speaker, Assistant Speakers, the reinstatement of business in a carryover motion and one on “Entities to be deemed public organisations”. More>>

 

Tertiary Education: Students Doing It Tough As Fees Rise Again

The Government is making it increasingly difficult for Kiwis to gain tertiary education as fees continue to rise and access to student support becomes even more restricted, Labour’s Tertiary Education spokesperson Chris Hipkins says. More>>

ALSO:

Housing, Iraq: PM Press Conference – 20 October 2014

Prime Minister John Key met with press today to discuss:
• Housing prices and redevelopment in Auckland
• Discussions with Tony Abbott on the governmental response to ISIS, and New Zealand’s election to the UN Security Council More>>

ALSO:

Labour: Review Team Named, Leadership Campaign Starts

Labour’s New Zealand Council has appointed Bryan Gould as Convenor of its post-General Election Review. He will be joined on the Review Team by Hon Margaret Wilson, Stacey Morrison and Brian Corban.

ALSO:


Roy Morgan Poll: National Slips, Labour Hits Lows

The first New Zealand Roy Morgan Poll since the NZ Election shows National 43.5% (down 3.54% since the September 20 Election). This isn’t unusual, National support has dropped after each of John Key’s Election victories... However, support for the main opposition Labour Party has crashed to 22.5% (down 2.63% and the lowest support for Labour since the 1914 NZ Election as United Labour). More>>

ALSO:

In On First Round: New Zealand Wins Security Council Seat

Prime Minister John Key has welcomed New Zealand securing a place on the United Nations Security Council for the 2015-16 term. More>>

ALSO:

TPP Leak: Intellectual Property Text Confirms Risk - Jane Kelsey

The US is continuing its assault on generic medicines through numerous proposed changes to patent laws. ‘These are bound to impact on Pharmac if they are accepted’, according to Professor Kelsey... Copyright is another area of ongoing sensitivity... More>>

ALSO:

RMA: Smith Plans Reform To Ease Urban Development

Newly appointed Environment Minister Nick Smith has announced Resource Management Act reform to foster urban development, where high land prices and expensive resource consents are blocking efforts to provide affordable housing. More>>>

ALSO:

Gordon Campbell: On New Zealand getting involved (again) in other people's wars

Apparently, the Key government is still pondering how New Zealand will contribute to the fight against Islamic State. Long may it ponder, given the lack of consensus among our allies as to how to fight IS, where to fight it (Syria, Iraq, or both?) and with whose ground troops, pray tell? More>>

ALSO:

Gordon Campbell: On child poverty, and David Shearer’s latest outburst

The politicisation of (a) the public service and (b) the operations of the Official Information Act have been highlighted by the policy advice package on child poverty that RNZ’s resolute political editor Brent Edwards has finally prised out of the Ministry of Social Development. More>>

ALSO:

Gordon Campbell: On the government’s review of security laws

So the Key government is about to launch a four week review of the ability of our existing legislation to deal with “suspected and returning foreign terrorist fighters, and other violent extremists.”

According to its terms of reference, the review will consider whether the SIS, GCSB and Police are sufficiently able right now to (a) investigate and monitor suspected and returning foreign terrorist fighters… More>>

ALSO:

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
 
 
 
Regional
Search Scoop  
 
 
Powered by Vodafone
NZ independent news