Latest news with #RoadUserCharges
NZ Herald
5 days ago
- Business
- NZ Herald
NZX steady as Eroad rallies on road user charge changes
'Of course, we have an earnings season starting next week, so you tend to see volumes a little lighter as people await the company announcements and guidance especially,' Sullivan said. 'US markets were positive, even though India has been hit with a higher tariff level than initially quoted. Our interest rates are buoying the market more than geopolitical instability and tariffs.' On the NZX, Eroad rallied by 26.42% today after the Government unveiled a raft of changes to the country's Road User Charges system in preparation for 3.5 million vehicles becoming liable for the charges. As has previously been signalled, the current Fuel Excise Duty is expected to be abolished in the coming years, with all vehicles moving to Road User Charges (RUCs). Eroad's share price lifted 42c to $2.01 after 3.1 million shares changed hands on turnover of $5.9m. 'Obviously they're seen as a potential frontrunner for being able to offer a solution in that area. Material uplift in volume and share price and their market cap would put them up as a NZX 50 constituent as well, so the potential to eventually be included in NZX indices.' Elsewhere, Radius Healthcare shares rose 3.90% to $0.40 on high volume of 10.4 million shares after it announced an upgrade to its projected underlying earnings before interest and tax. Sullivan said Radius doesn't seem to be able to put a foot wrong at the moment, noting its share price rose 22% in July, 22% in June and 25% in April. Chorus also had another positive day, with its share price lifting 1.21% or 11c to $9.20. Contact Energy, meanwhile, fell 0.76% to $9.10 after $11.1m in turnover was traded. US markets Wall Street stocks rose on Wednesday local time, with Apple and most other large tech companies rallying as markets largely shrugged off US President Donald Trump's latest tariff hikes. Apple piled on more than 5% after White House officials said the tech giant plans an additional US$100 billion ($168b) in capital spending in the United States. Amazon and Google parent Alphabet were among the other large tech names that also rose. 'By standing up and publicly announcing a domestic investment with President Trump, it reduces the likelihood of Trump imposing new tariff burdens on Apple,' said FHN Financial's Chris Low. The Dow Jones Industrial Average finished up 0.2% at 44,193.12. The broad-based S&P 500 gained 0.7% to 6,345.06, while the tech-rich Nasdaq Composite Index climbed 1.2% to 21,169.42, less than 10 points from an all-time record. Trump ordered an additional 25% tariff on Indian goods. The levy, which is expected to come into force in three weeks, is due to New Delhi's continued purchase of Russian oil. – Additional reporting AFP Tom Raynel is a multimedia business journalist for the Herald, covering small business, retail and tourism.
Scoop
5 days ago
- Automotive
- Scoop
NZ Trucking Association Backs Move Towards Single Road User Charges System
Press Release – NZ Trucking Association With the cost of roading maintenance and investment rapidly rising, the current model is no longer sustainable. The Association says a wholesale fix is needed to ensure all road users contribute fairly to the upkeep of the countrys road network. The New Zealand Trucking Association (NTA) has welcomed the announcement by Transport Minister Chris Bishop to move towards a single, unified system for collecting revenue for the National Land Transport Fund (NLTF), based on Road User Charges (RUC). 'This is a common-sense and necessary shift,' says NZ Trucking Association CEO David Boyce. 'New Zealand's fuel excise model is outdated and failing to meet the needs of our transport system. As more vehicles transition to new technology, including electric and alternative fuels, fuel excise revenue continues to decline, leaving an ever-widening gap between the cost of maintaining our roads and the funds available to do so.' With the cost of roading maintenance and investment rapidly rising, the current model is no longer sustainable. The Association says a wholesale fix is needed to ensure all road users contribute fairly to the upkeep of the country's road network. 'Road User Charges are a proven, transparent way to ensure users pay based on the actual wear and tear they place on the network. Expanding RUC to all vehicle types is the fairest and most efficient way to secure long-term, sustainable funding,' says Boyce. 'All road users benefit from safe and reliable roads; it's only right that all users contribute to the cost.' The New Zealand Trucking Association supports the Government's direction and notes that this shift is not political, it is essential, and would need to happen regardless of which party holds power. 'Road funding isn't a party issue. It's a national issue,' says Boyce. 'The longer we delay, the worse the state of our roads will become. This is about protecting the future of our transport system.' The Association also supports the use of digital innovation to streamline the RUC system, making it easier and more efficient for operators and private motorists alike. The NZ Trucking Association looks forward to continuing its collaboration with Government officials and other stakeholders to support this transition and ensure the new system delivers fairness, efficiency, and sustainability for all New Zealand road users.
Scoop
6 days ago
- Business
- Scoop
Privatising Road User Charges Risks Higher Costs For Drivers
The Government's plan to privatise the collection of Road User Charges, at the same time as moving all vehicles on to the system, risks adding to the cost of living for New Zealanders, the PSA says. Fleur Fitzsimons, National Secretary for the Public Service Association Te Pūkenga Here Tikanga Mahi says "it is concerning that the Government is moving to privatise a key government role - revenue collection - without presenting a clear, evidenced justification. "Administration fees on Road User Charges are already low, about 1% of the revenue collected, and do not make a profit for NZTA. Putting RUC in the hands of private companies, who will need to make a profit on the transactions, is a recipe for higher fees for drivers." "Ramping up driving costs at a time when the Government is failing to control inflation makes no sense. This is another example of the Government's reckless focus on privatising provision of public services, even if it increases costs to New Zealanders. "As we have seen time and again, privatisation means less accountability to the public and Parliament. It will result in less public control over how much drivers are charged. "Privatisation is a problem masquerading as a solution. The only people who will see any benefit from this scheme are the corporates who take their cut to gather the tax," says Fitzsimons.
