Morning Report Essentials for Wednesday 6 August 2025
In today's episode, an overhaul of the rules will allow greater catch limits when fish are abundant and stop on-board camera footage from being made public; Unemployment is tipped to reach a nine-year high on Wednesday; A leaked Cabinet paper shows the government was planning to restrict the hours bottle stores and supermarkets could sell alcohol. But the documents obtained by RNZ show it has backed away from those plans to focus on making business easier for the alcohol industry; A blind woman on the Supported Living Payment says she's struggling to use what she describes as the Ministry of Social Development's "impossible system"; A building course for high school kids in Opotiki is giving hard-to-reach students career options they might never have had otherwise.
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1News
2 hours ago
- 1News
'A bit like Star Trek': Politicians take City Rail Link test run
There's been another milestone in Auckland's City Rail Link with people from outside the project allowed on an underground test run for the first time. Prime Minister Christopher Luxon was aboard along with senior ministers, city leaders and other officials. The train journey started at the revamped Maungawhau Station and headed into a tunnel to arrive at Waitematā or Britomart Station. "We were just saying it's a bit like Star Trek, warp speed up there the way the tunnel is lit," Luxon said after standing with the driver. City Rail Link's first test train. (Source: ADVERTISEMENT Auckland Mayor Wayne Brown stayed seated and chatting with the Finance Minister during the trip and maybe didn't see the warp speed lighting. "We don't really see exactly what we've got here just yet, but it's good, this is a good step in the direction," he told RNZ. In a speech before getting on the train, Brown said getting to today had not been cheap or easy, with Auckland enduring a decade of construction that has been tough. He warned future projects needed to be done better and faster and could not be done on what costs were now. There have been more than 1600 test train runs in the new City Rail Link tunnels so far. Vince Ahkuoi was the driver. "I haven't driven a train that is that important, I don't think," he said. ADVERTISEMENT Today showed just how far the City Rail Link had come, another driver Grant Dowie said. He said test trains had run more than 5000km since February and 50 drivers had been trained. "And if you think that the tunnel is only 3.5km long, to get over 5000km of test running we've been running backwards and forwards multiple times," he told RNZ. He said the VIP test train on Friday showed that testing had done its job, but there was still much more to do. "We started at walking pace, and then we went to 3km [an hour] and then we went to 10km and then we went to 25 and then 40," he said. Prime Minister Christopher Luxon at the City Rail Link's first test train. (Source: Trains now run at 70km/h and a key test was making sure the trains actually fit. ADVERTISEMENT "I know it's a silly thing but in other parts of the world there have been situations where they've built a tunnel and then the trains didn't fit," Dowie said. "I know people are thinking 'well why aren't we opening the tunnel' but it's a journey that we have to go through to make sure it's safe before we open." City Rail Link officials are hailing Friday's VIP test run as a milestone but say there is still a long way to go before the public can have its turn. CRL chief executive Patrick Brockie said testing and commissioning was the most complex part of the $5.5 billion project. "There is still a lot of work to do before we know when exactly passengers will ride," he said. Several politicians attended City Rail Link's first test train. (Source: Another on the train, Finance Minister Nicola Willis was happy with what she saw. "The feeling I have is it looks like when you're overseas and you go in a proper underground subway and that's an experience many New Zealanders have had and now they can have it here in Auckland," she said.
Scoop
3 hours ago
- Scoop
Long-Term Investment Is Guaranteed Lotto ‘Win'
Article – RNZ The odds of winning Lotto First Division are about one-in-3.84 million and Powerball is even less likely., Money Correspondent The money you're putting aside for your Lotto ticket could give you an almost certain $100,000 windfall. Lotto's Powerball is rolling over for a $20 million prize on Saturday, but while statistics show we spend a combined more than $700 million a year on Lotto products, investment experts say people might be missing out on a prize that they are much more likely to achieve. The odds of winning Lotto First Division are about one-in-3.84 million per line. Powerball is even less likely – at about one-in-38 million. On the other hand, if you put money away each week, fortnight or month, the power of compounding will deliver you a solid return, given time. Hamilton Hindin Greene investment advisor Grant Davies calculated the outcome for someone investing $25 a week over 45 years at just over $58,000, without any investment returns. If they received an after-tax and after-fee return of 4.5 percent, compounding weekly, they would grow their investment to $189,785. Adjusting for inflation, both in the weekly contribution and the future value of the investment, the investor would end up with about $160,000. 'The allure of Lotto is that big win and the hope that comes along with it,' Davies said. 'That's why people do it, but if you start to do the maths, it often doesn't stack up quite so well. 'The thing about compounding interest is that it does take a long time for small amounts to build up, but once they do build up, that's when you start to see the real benefit. 'Over 45 years, it's not until you get to the final 20 years that you see the real effects of compounding start to play out. 'That's part of the human condition – we're maybe more tuned to the short-term dopamine hit than the long-term one.' Over a long time horizon, he said most investments should perform, 'but when you're only dealing with small numbers at the beginning, it's hard to see that result at the end'. Hatch managing director Waimarie Marks said she knew people who spent a lot more than $25 a week on Lotto. 'I think it's because it's a habit they can't break,' she said. 'Although there is so much literature out there about the benefits of investing and compounding growth etc, the 'hit' of potentially striking big likely draws them in. 'I will say, though, an upside of Lotto is the good work this money can do in the community.' Koura KiwiSaver founder Rupert Carlyon said a big win was more alluring than a slow and steady return. 'Even though you know that it is a one-in-38 million chance of winning, you think maybe you will be that person. 'It's the same as a capital gains tax. Most people would benefit from it, yet it still polls negatively, because people think that one day they will benefit from a capital gain that they want to have tax free. 'Lotto are currently going through a process where they add an extra number. This will reduce the odds and allows them to offer bigger prizes. 'Their research is showing them that bigger prizes will mean more tickets sold. Unfortunately, it is human psychology. 'We love big numbers and love to believe we will be the lucky ones, despite what the logic says.' Fisher Funds chief executive Ana-Marie Lockyer, said it was behavioural economics. 'You only need to watch Lotto's latest TV ads to understand it isn't just about the money – it's about your dreams coming true overnight. 'The prospect of winning millions offers an immediate emotional payoff that saving or investing can't match, even though the odds of a big win are extremely low. 'Gambling a relatively small amount each week feels harmless and the occasional small win keeps people going back for more. 'Saving or investing, on the other hand, doesn't offer the same excitement, because the payoff is usually a long way off, and it's seen as complex and only for wealthy people. 'Most people don't realise investing $25 a week into a balanced KiwiSaver fund earning 3.5 percent a year for 10 years could add up to $15,500. 'We need to change those perceptions, so investing is seen as the best way of achieving those same dreams.'
RNZ News
5 hours ago
- RNZ News
Wellington council's planned sludge minimisation plant faces increased costs
An artist's impression of the new sludge minimisation facility at Moa Point. Photo: Supplied / Wellington City Council Wellington City Council's sludge minimisation plant, which is expected to be completed by next year, is facing increased costs. On Friday morning several councillors confirmed to RNZ they had been made aware of a budget blow-out during a public-excluded session last week. On Friday afternoon Wellington City Council said elected members had been given a preliminary briefing about the challenges faced with building the new Te Whare Wai Para Nuku sludge minimisation facility currently under construction at Moa Point, with several factors driving increased costs to complete the project. The project is expected to be built to a $428 million budget. Initially up to $400m was raised for its construction, with a levy introduced to ratepayers in August last year to fund the the facility without affecting council funding for other important infrastructure and community projects. The levy will be collected for a period of 33 years commencing 1 July 2024. A council spokesperson said while staff were still investigating the situation, several key themes that were driving increased costs to complete the project had emerged. "These include a later practical completion date than anticipated, changes in design, identification of historical costs which weren't originally included, and re-assessment of risks with the pathway and process for commissioning the plant," the spokesperson said. A more detailed report on cost and funding implications will be outlined to elected members in a briefing on Thursday 14 August. The matter will also be considered at the council's long-term plan finance and performance committee on Wednesday 20 August. Sign up for Ngā Pitopito Kōrero , a daily newsletter curated by our editors and delivered straight to your inbox every weekday.
