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NZ First & Labour Coalition Agreement: HiFX comment

The NZ First & Labour Coalition Agreement & Press Conference

The NZ First & Labour Coalition Agreement has been released and a joint press conference is presently on-going. The key points are:
Have agreement on banning purchase of existing homes from freight buyers
Govt will review and reform the Reserve Bank Act
Employment and Price Stability will be part of the RB Act review
No resource rentals for water this term but will introduce a royalty on bottled water exporters
Said they will be fiscally responsible.
A $1 billion per year Regional Development (Provincial Growth) Fund
Significant investment in regional rail.
Re-establish the New Zealand Forestry Service, and planting 100 million trees per year in a Billion Trees Planting Programme.
Commissioning a feasibility study on moving the Ports of Auckland to Northport
Increase minimum wage to $20 an hour by 2020, with the final increase to take effect in April 2021
Strengthen the Overseas Investment Act and create a comprehensive register of foreign-owned land and housing
Increase R&D spending to 2 per cent of GDP over 10 years
Re-establish the Mental Health Commission, annual free health checks for seniors with the SuperGold card, free doctors' visits for all under 14s.
Establish a Housing Commission
Superannuation eligibility to remain at 65 years.

The NZD is lower across the board in immediate response.

Current indicative levels are:

NZD-USD 0.6945 / 0.6970
NZD-AUD 0.8880 / 0.8905
NZD-EUR 0.5900 / 0.5925
NZD-GBP 0.5250 / 0.5275
NZD-JPY 78.70 / 78.95


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