Gas industry could get far more than $200m if deals keep flowing
The $200 million announced in Thursday's Budget to allow the Government to buy a stake in new offshore gas fields could be just the start, Resources Minister Shane Jones told Newsroom.
With the first $200m set aside in a contingency fund while a Schedule 4 company or other structure is set up, Jones said he had the tentative agreement of acting Finance Minister Chris Bishop to boost it if more developers come seeking support.
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RNZ News
4 hours ago
- RNZ News
Government invests $13.5 million in bid to attract 72,000 more visitors to NZ
The government has announced another multi-million dollar funding boost for Tourism New Zealand in a bid to attract 72,000 more visitors to our shores. Tourism and Hospitality Minister Louise Upston said $13.5 million in funding would help to target the core markets of Australia, the United States and China over the next few years. "This investment is expected to generate around $300 million in spending, which is a very strong return on investment," she said. "International visitor numbers continue to climb and this boost will help drive further economic growth throughout the entire country." Less than two months ago, she announced a separate $13.5 million boost for Tourism New Zealand to fund marketing in the shorter term, with the aims of attracting an extra 23,000 international visitors by the end of March 2026 and bringing in an additional $100 million. The international visitor levy - which was nearly tripled last year - is covering the costs for both. "We know how important marketing is to attract visitors, with around 14 percent of international holiday visitors directly influenced by Tourism New Zealand's marketing activity," Upston said. "We want people to know New Zealand is open for business and we welcome visitors with open arms." She described the funding as the first investment in the government's Tourism Growth Roadmap , which outlines the initiatives to help the government and industry double the value of tourism exports by 2034. "We know how important marketing is to attract visitors, with around 14 percent of international holiday visitors directly influenced by Tourism New Zealand's marketing activity," Upston said. Last year, Tourism New Zealand unveiled an ambitious strategy to grow tourism by $5 billion by attracting more visitors outside of summer over four years. It aimed to grow international tourism spend by 8.7 percent, or an additional $900 million in the strategy's first year. February marked the largest number of American visitors that Aotearoa had ever recorded in a month. At tourism conference TRENZ last month, Tourism New Zealand chief executive René de Monchy said that had been buoyed by airlines opening up new routes, a tailwind of a strong American dollar and focused marketing, and the outlook for American visitors remained really positive. Sign up for Ngā Pitopito Kōrero , a daily newsletter curated by our editors and delivered straight to your inbox every weekday.
NZ Herald
4 hours ago
- NZ Herald
Government makes another investment into tourism marketing
The Government is pumping another $13.5 million into international tourism marketing, with the expectation it brings an extra 72,000 visitors to New Zealand. Prime Minister Christopher Luxon and Tourism Minister Louise Upston are expected to talk to media about the announcement at a 3.30pm press conference at Auckland International Airport. The money is on top of other investments into marketing announced earlier this year. Those were focused on increasing visitors between now and early 2026, while today's announcement is focused on arrivals in the years beyond that. Upston said today's funding – which comes from the International Visitor Conservation and Tourism Levy (IVL) - will be targeted towards core markets like Australia, the United States and China over the coming years. 'We know how important marketing is to attract visitors, with around 14% of international holiday visitors directly influenced by Tourism NZ's marketing activity,' she said. It's expected to deliver an extra 72,000 international visitors to NZ and generate about $300 million in spending, which the minister said was a 'very strong return on investment'. Upston said international visitor numbers continue to climb and this additional investment would help drive economic growth. 'Encouraging more visitors means more people staying in our hotels, eating in our cafés, spending in our shops and visiting our attractions. 'This creates jobs and drives economic growth. We want people to know New Zealand is open for business and we welcome visitors with open arms.' The minister said this is the first investment from the Government's yet-to-be-revealed Tourism Growth Roadmap. She said it will set out a 'series of Government initiatives and investments for the Government and industry to work together to double the value of tourism exports by 2034″. This is in addition to the $13.5 million announced by Upston in April for marketing as well as the 'Everyone Must Go' campaign to get Australians to New Zealand.
Scoop
7 hours ago
- Scoop
Federated Farmers Launches KiwiSaver Petition
Press Release – Federated Farmers Federated Farmers has launched this petition: to hold the Government accountable and send a clear message that its time to follow through on their promise. Federated Farmers has launched a nationwide petition calling on the Government to urgently change the KiwiSaver rules to help young farmers get their foot on the ladder. 'Accessing your KiwiSaver to buy your first farm, flock, herd or home has been an incredibly hot topic for farmers,' Federated Farmers dairy chair Richard McIntyre says. 'On the campaign trail of the 2023 election, Todd McClay stood up in front of young farmers in Morrinsville and made a promise that he would make it happen. 'I'm sure he had the best of intentions, but unfortunately farmers have been bitterly disappointed by the lack of action from the Government on the issue to date. 'That's why Federated Farmers has launched this petition: to hold the Government accountable and send a clear message that it's time to follow through on their promise.' The petition's launch has been timed to coincide with the National Fieldays, where thousands of farmers, industry leaders and politicians will gather at Mystery Creek. 'Politicians are always out in force at Fieldays, rubbing shoulders with farmers, and we really wanted to make sure KiwiSaver issues were a topic of conversation,' McIntyre says. 'Allowing young farmers to access their KiwiSaver to buy their first herd, home, farm or flock is the number one thing the Government could do to help our next generation of farmers. 'It would shave years of hard work and saving off their progression through the industry, and really turbocharge their farming careers. 'Why is the Government okay with that money being managed by stockbrokers and invested in Fortune 500 companies, but not by a farmer buying a herd to go sharemilking?' McIntyre says he can't see any reason the Government wouldn't throw their full support behind making this policy change happen. 'A lot of young urban people enter KiwiSaver because it's a good way to build a deposit for their first house. They're saving for a home early on – not for their retirement. 'We're asking for young farmers to have the same opportunity – a one-off withdrawal early in their careers to help them get ahead by purchasing their first home, farm, herd, or flock.' New Zealanders are encouraged to sign the petition online at or at Federated Farmers' Fieldays site D70.
