Latest news with #budget2025
Yahoo
2 days ago
- Business
- Yahoo
See what Independence city council members will discuss in June 2 meeting
The Independence City Council is meeting on Monday, June 2 at 6:00 p.m. in council chambers at City Hall, located at 111 E. Maple Ave. in Independence. You can attend in person or watch an online livestream of the meeting through the city's Youtube channel. The agenda can be found online ahead of the meeting, which will include a public hearing on the city's proposed 2025-2026 budget and a public hearing on the city's development ordinance related to rules on motor vehicle repair. Residents do not have to sign up ahead of time to speak at a public hearing, but will be asked to limit their comments to the topic of the hearing. Members of the public can make comments on other agenda items of the meeting in person. You can register to comment in person or by calling (816) 325-7010 before 6 p.m. Monday. A proposal to require fingerprint-based criminal background checks for private security guards citywide A ban on metal detectors and 'treasure hunting' in city parks An ordinance dismantling the city's tourism commission, which was established in December 2024. After the main agenda, councilmembers may go into a closed session to discuss ongoing legal actions involving the city.
RNZ News
4 days ago
- Business
- RNZ News
Government's health boost less than claimed, expert says
Nicola Willis and Simeon Brown at Wellington Hospital on Wednesday. Photo: RNZ / Samuel Rillstone A leading health systems expert is questioning the Government's claim of "record investment" in the public system, saying the real increase to the health budget this year is half of what the government claims. Health Minister Simeon Brown and Finance Minister Nicola Willis have said the $31 billion allocation for health in Budget 2025 represented an operating funding increase of 7.4 percent - or nearly $2 billion - year on year. The two ministers donned hard hats and high-vis vests for a site visit at Wellington Regional Hospital on Wednesday, where they announced details of a further $100 million investment in its ongoing upgrade. Speaking to media following the tour, Brown said Health NZ had also had a $1.4 billion uplift in operating funding this year - the second instalment of a $16.6 billion cost-pressure boost over four years. "It's a significant uplift to allow them to invest in the front-line workforce required to give New Zealanders and timely and quality healthcare they need," Brown said. The government's investment in health far outstripped either population growth or inflation, the Finance Minister added. "For context, that operational funding uplift was more than 7 percent over what it's been, which even on a population basis is more than 6 percent," Willis said. "So, we're ensuring that funding is going in at a far faster rate than either population growth or inflation." In response to RNZ's request for a detailed breakdown of the percentage increase, Brown's office later said the figure of 6.2 percent was "based on Treasury's annual growth rates set out in Budget Economic and Fiscal Update 2025, and the nominal Vote Health operating spend for Budget 2025". Nicola Willis and Simeon Brown at Wellington Hospital. Photo: RNZ / Samuel Rillstone However, Auckland University health policy Professor Tim Tenbensel said, according to his calculations, the $31 billion allocated for health in the Budget was only 3.6 percent more than what was actually spent last year. "So, we're pretty much treading water at best, or rather sinking a little, in this budget," Prof Tenbensel said. Furthermore, operational funding last year only increased about 1.2 percent in real terms. "And the reason for that is because a lot of the money for this financial year's Budget in health was soaked up to remediate the underpayment of staff under the Holidays Act," he said. "So, that might help to explain the reality of people in the sector wasn't matching some of the things said by government." Tenbensel said the Government's oft-quoted claim of a $16 billion boost to Health NZ's bottom-line was "a bit like your boss giving you a $3000 payrise each year for four years and then claiming your pay has gone up by $30,000 over that time, not $12,000". The trick was to keep adding on the previous year's increase as "new money", ignoring the fact that it would have been eaten up by inflation. "It's a very creative ploy that one, so I think we need to see it for what it is," he said. "All governments do this sort of thing, but in the scheme of things, this one is pretty brazen." Dumping pay equity claims, including for primary care nurses, saved the Government about $420 million in health, which mostly paid for the near $500 million investment in digital health, after hours and urgent care in the Budget, he said.
RNZ News
4 days ago
- Business
- RNZ News
'Look at the plan for growth' - Pacific peoples minister on NZ budget
Science, Innovation and Technology Minister Dr Shane Reti. Photo: RNZ / Marika Khabazi New Zealand's Pacific peoples minister says Pasifika people should see themselves in the Government's 2025 budget. It comes amid disappointment in the financial plan from several quarters, including from a Tongan Auckland community leader and from the opposition's Pacific peoples spokesperson, Carmel Sepuloni. The Budget included a funding cut for the Ministry for Pacific Peoples (MPP) of nearly NZ$36 million over the next four years - equating to $9m annually - and the closing of the Tauola Business Fund which will save $3.5m a year. But Dr Shane Reti told Pacific Waves the benefits set to come from the Budget will also benefit Pasifika in Aotearoa. Asked what he would say to people who are still reluctant or still doubtful about what this budget can deliver for Pacific peoples, Reti said: "I think what I'd say to them is look at the plan for growth. "It is an economic growth agenda. As inflation comes down, cost of living improves. Pasifika people benefit from that," he said. "As inflation comes down, interest rates come down; mortgage rates come down. Therefore it's an easier pathway into housing - that's got to benefit Pasifika people. "And the extra 240,000 jobs, Pasifika people will participate in that. "So I would anticipate that Pasifika see themselves in this budget. It is an economic growth agenda and Pasifika people will benefit from economic growth." Dr Reti said he has "complete confidence" that MPP will still be able to deliver its core services. "We need to understand that any reductions in budget are spread out over four years. "Our Toloa scholarships used to be completely managed - that is that alignment between applicants and the mission for the Toloa fund used to be managed by MPP. That is now outsourced to a specialist agency who, more effective and more efficiently is able to help us find the 300 people roughly that we're looking to support each year through the Toloa STEM scholarships. So that's an example of MPP becoming more effective, more efficient and better using the funding that it does have." On Wednesday, Dr Reti announced NZ$1 million over four years for the Auckland Pacific Wardens Trust. The funding is for established wardens in Auckland and South Waikato but Reti said he would like to see the initiative expand to other parts of the country. Reti said Pacific Wardens are a trusted and vital presence in communities.
CTV News
6 days ago
- Business
- CTV News
Investors brace for record Canadian government debt issuance as budget delayed
The Bank of Canada is seen in Ottawa, on Wednesday, April 16, 2025. (THE CANADIAN PRESS/Justin Tang) Canada's government debt issuance is expected to surpass a pandemic-era record high this fiscal year, which could raise borrowing costs and add to calls for the ruling Liberal Party to be more transparent on its spending plans. Prime Minister Mark Carney has said his government, which retained power in last month's general election, will present a budget in the fall. The budget is typically tabled by April, the first month of the fiscal year. With debt issuance running high, some analysts and investors worry the budget could reveal a surprise increase in government spending for the current fiscal year, resulting in increased bond issuance that needs to be absorbed by the market in a shorter space of time. Canada sends about 75 per cent of its exports to the United States so its fiscal outlook is particularly uncertain as the U.S. wages a global trade war. Still, analysts can estimate Canada's borrowing needs for 2025-26 by taking the government's forecasted financial requirement in a December economic update, adjusting it for increased spending in the Liberal Party's campaign platform and adding maturing debt. The estimate comes to C$628 billion ($457.26 billion), according to Reuters calculations. That would exceed 2020-21 debt issuance of C$593 billion, and mean an even greater increase in the net supply of debt after much of the pandemic-era debt was purchased by the Bank of Canada to support the economy. Bond maturities are historically high as some of the additional debt load accumulated during the pandemic comes due, while deficit spending remains elevated and the government began last year purchasing mortgage-related bonds to help lower the cost of housing. Investors tend to demand higher returns for the risk of providing larger loans. 'We do think that this will have an impact on Government of Canada bond yields,' said Andrew Kelvin, head of Canadian and global rates strategy at TD Securities. He forecast a steeper yield curve in Canada, where long-term borrowing costs rise faster than short-term rates, and debt issuance of C$645 billion this fiscal year. His supply estimate anticipates lower economic growth than used in the Liberal platform. 'Whatever is going to be in the budget, the more time the market has to process it, the easier it is for the market to digest that supply,' Kelvin said. The Canadian 10-year yield has already climbed more than 50 basis points from its trough in April to 3.31 per cent, tracking a move in U.S. yields as a worsening fiscal outlook for the United States raises concerns about demand for U.S. government debt. The 10-year yield remains low by historic standards, but is trading 63 basis points above the 2-year rate, which is nearly the largest gap since November 2021. While fiscal policy is a concern for long-term investors, the Bank of Canada's interest rate-cutting campaign has helped anchor short-term rates. Investors have said that Carney's experience as a central banker is reassuring, but the long wait for a budget is unwelcome. 'It raises questions about transparency and contributes to greater economic and fiscal uncertainty,' said Joshua Grundleger, director, sovereigns at Fitch Ratings. 'It would be helpful for markets to have a clear sense of which aspects of the party platform will be implemented and what the ultimate impact will be on deficits, debt and the taxpayer,' Grundleger said. Canada's debt is popular with foreign investors but that demand cannot be taken for granted, analysts said. The Canadian dollar accounts for only a small share of foreign exchange reserves held by central banks. 'Markets need greater clarity sooner on debt issuance plans,' Derek Holt, head of capital markets economics at Scotiabank, said in a note. 'If you're going to do (the) fall, make it September.'
Yahoo
24-05-2025
- Business
- Yahoo
Broadway budget: No tax hike but water/sewer fees rising
BROADWAY — Residents of Broadway will not have an increase in property taxes this year, but the rate for water and sewer service is rising by 10%, according to Town Manager John Godfrey. He presented the proposed budget for fiscal year 2025-26 at a meeting of the Broadway commissioners Monday. The overall total for the proposed budget is $1,910,424. That includes $1,374,603 in the general fund and $535,821 in the utility fund, Godfrey said. The tax rate will remain at 46 cents per $100 of property value, which 'is adequate to meet our needs,' Godfrey said. He is proposing a 10% increase in water and sewer rates to help meet expenses with an 'aging water and wastewater system.' A 3% convenience fee will be charged to customers who pay their bill with credit cards, Godfrey said. 'The fee is only charged to assist in covering the cost of the convenience of using a card and preventing the town from absorbing processing fees charged by credit card companies. Customers are welcome to pay by bank draft, cash, check or money order,' he said. The budget also includes a 3% cost of living raise for employees and an anticipated increase in attorney's fees as the town's longtime counsel, Jimmy Love, is retiring at the end of June. Sanitation fees will increase by $1.55, Godfrey said. 'There have been discrepancies on the number of carts in town, and we completed an audit this past year to rectify that issue,' he said. The rate increase will allow the town to continue with cart service and the pickup of bulk trash.
