New Zealand PM takes pay cut as virus hits economy

WELLINGTON - New Zealand Prime Minister Jacinda Ardern announced Wednesday she would take a 20 percent pay cut in a symbolic act of solidarity with people struggling financially during the coronavirus pandemic.

Ardern said her personal salary, those of her fellow ministers and of top public servants would be slashed by a fifth for six months.

The move will see Ardern's annual pay fall to NZ$376,000 ($227,865) from around NZ$470,000, costing her about NZ$47,000 over the 6-month period.

"While it in itself won't shift the government's overall fiscal position, it is about leadership," she told reporters.

"This was always just going to be an acknowledgement of the hit that many New Zealanders will be taking at the moment."

The center-left leader said the cut would not be implemented across the public service.

"Many people in our public sector are frontline essential workers -- nurses, police, healthcare professionals," Ardern said.

"We are not suggesting pay cuts here, nor would New Zealanders find that appropriate."

New Zealand is in the midst of a four-week COVID-19 lockdown that has paralyzes the economy, with thousands of jobs losses already announced.


Economic modelling released by the Treasury department this week predicted unemployment -- currently about 4.0 percent -- could soar to almost 26 percent in a worst-case scenario.

Ardern said her wage cut was a small contribution to easing pay inequalities in society.

"If ever there was a time to close the gap between different positions, it's now," she said.

"This is where we can take action which is why we have."

Opposition leader Simon Bridges said that he would also take a 20 percent pay cut.

Agence France-Presse

Finance Minister English named as New Zealand prime minister

WELLINGTON - New Zealand Finance Minister Bill English was confirmed as the country's new prime minister on Monday, as expected, a week after John Key announced his surprise resignation after eight years in the role.

English, who was the sole contender for the job, announced Social Housing Minister Paula Bennett as the deputy leader, following a special caucus meeting of the ruling centre-right National Party.

English, who will be sworn in later in the day, has already lined up senior cabinet minister Steven Joyce, the minister for economic development, to replace him in the finance ministry.

He is expected to announce further cabinet changes in the coming weeks and has also signalled a "stocktake" on policy.

"I am both excited and humbled by this opportunity," English, who comes from a conservative, Catholic family in New Zealand's south, told reporters after the meeting.

English, who 13 years ago oversaw a disastrous election loss for the National Party to the centre-left Labour Party, takes the reins of a country in good economic shape compared to much of the developed world.

On Monday, Moody's said it expects New Zealand to remain among the fastest growing of triple-A rated economies.

English has held several ministerial posts across education, health and finance since he joined parliament in 1990.

As finance minister, his key policies included moves to partly privatize several state-owned energy firms and Air New Zealand, cutting personal tax and corporate tax rates and increasing the goods and services tax. (Reporting by Swati Pandey and Charlotte Greenfield; Editing by Richard Pullin)

source: news.abs-cbn.com

Prime Minister Key: More opportunities for Pinoys in NZ

New Zealand Prime Minister John Key said they are increasing opportunities for Filipino students to study in New Zealand.

Key, who is in the Philippines for the Asia Pacific Economic Cooperation (APEC) meetings, said New Zealand's demand for Filipino workers particularly in the construction and health care industry also continues.


As flights from the Philippines to New Zealand to start next month, Key believes this will bolster tourism between both countries.

Meanwhile, Key is hoping other member-economies of APEC, including the Philippines, would join Trans-Pacific Partnership Agreement (TPP).

A champion of free trade, Key said joining the TPP produced good results for their country and the nations they signed the agreement with.

source: www.abs-cbnnews.com

New Zealand PM hopes other APEC members will join TPP

MANILA – New Zealand Prime Minister John Key attests that joining the Trans-Pacific Partnership (TPP) has been good for his country.

A champion of free trade, Key hopes the remaining members of APEC, including the Philippines, would also join TPP.

"I think there'll be a little bit of backslapping that goes on because of TPP being completed and I suspect for the other sort of nine other economies or countries that aren't members of TPP but are members of APEC, I suspect they'll be looking at thinking, should they possibly come in as it's an opportunity for them," Key told ABS-CBN's Ces Drilon in an exclusive interview.

"From the New Zealand's point of view, I think we take the view of the more the merrier...We'd be more than happy for other countries to come in," he added.

Meanwhile, Key said there are now more opportunities for students as well as Filipino workers in New Zealand, particularly in the construction and health care industry.

Currently, there are 40,000 Filipinos living in New Zealand.

Flights from the Philippines to New Zealand will also start next month, which Key believes will bolster tourism between both countries.

source: www.abs-cbnnews.com