New Zealand budget may mask weakness

2015 ◽  
Keyword(s):  
New Zealand ◽  
Public Hospital ◽  
Government Debt ◽  
Education Funding ◽  
Content Type ◽  
Developed Economies ◽  
The Government

Significance New Zealand's low government debt and fiscal stability mark it out among developed economies. Its economy is also one of the few growing firmly: 3.3% in 2014 and 2.8% likely in 2015. The government aims to bring debt below 20% of GDP by 2020-21. Impacts The economic impulse of the fiscal settings will remain mildly contractionary through most of the next four years. This will partly offset the Reserve Bank's accommodative stance. The Bank is under pressure to cut its official cash rate but is unlikely to at its next review on June 11. Expenditure controls are straining public hospital finances and education funding and may be loosened. The budget does not stimulate diversification of the economy from its dependence on primary produce exports and tourism.

Maintenance of public hospital buildings in Nigeria – an assessment of current practices and policy options

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Andrew Ebekozien ◽  
Okechukwu Saviour Dominic Duru ◽  
Okhatie Emmanuel Dako
Keyword(s):  
Health Care ◽  
Public Hospital ◽  
Practical Implication ◽  
Design Stage ◽  
Future Research ◽  
Policy Options ◽  
Content Type ◽  
Hospital Administrators ◽  
Automation Systems ◽  
The Government

Purpose The recent COVID-19 pandemic has exposed the declining conditions of many of the hospital buildings, especially in developing countries. Past studies have shown inadequate maintenance practices but how far regarding Nigerian public hospital buildings is yet to receive empirical research. This paper aims to investigate the underlying issues leading to inadequate maintenance practices and proffers policy options to improve Nigerian public hospital buildings via an unexplored dimension. Design/methodology/approach The study used a mixed research design method involving both qualitative and quantitative data. First, results from the qualitative phase were analysed and verified at the quantitative phase through a well-structured questionnaire, developed from the qualitative findings across hospital maintenance experts (work/maintenance department, health-care provider, design team and health-care building/service contractor) in Abuja, Lagos and Benin City. Findings Insufficient funds for maintenance works, absence of planned maintenance programmes, inadequately trained personnel, etc., emerged as the maintenance inadequacies in the public hospital buildings across the cities covered. The paper categorised the cause of inadequate maintenance practices of public hospital buildings into six groups: statutory requirements, design stage, construction stage, budget for maintenance task, managing maintenance unit activities and user’s perception regarding maintenance management. Research limitations/implications This paper is limited to maintenance practices of Nigerian public hospital buildings. Future research is needed to evaluate factors that will enhance outsourcing maintenance and the use of the 4th industrial revolution (building information modelling for refurbishment and building automation systems) amongst others in maintenance practices of public hospital buildings. Practical implications As part of the practical implication, the government and hospital administrators should make provision for adequate funding and accountability of annual maintenance budgetary allocation. Also, the government should establish a national maintenance policy for public infrastructure with an emphasis on preventive maintenance and contractor’s reputation, outstanding pedigree, technical and financial soundness during build maintenance contract award, etc., were recommended. Originality/value This paper reveals that the stakeholders, especially hospital administrators, policymakers and political office holders that are concern with maintenance budget, approval and disbursement concerning maintenance practices in public hospital buildings need to reawaken to her responsibility because of the inadequate implementation across the cities covered.

Monetary easing may quicken in Brazil this year

2017 ◽  
Keyword(s):  
Monetary Policy ◽  
Interest Rate ◽  
Interest Rates ◽  
Economic Recession ◽  
Government Debt ◽  
Domestic Demand ◽  
Private Debt ◽  
Content Type ◽  
Positive Effects ◽  
The Government

Significance At its first meeting of 2017, on January 10-11, the COPOM reduced the benchmark Selic interest rate to 13%. The 75-basis-point (bp) rate cut decision, the largest in nearly five years, accelerated the monetary easing cycle that started in October 2016. Economic recession has been relieving inflationary pressures and opening room for more intense cuts in interest rates. Impacts Further reductions of interest rates may contribute to controlling government debt. Private debt renegotiations at lower interest rates may facilitate a recovery in domestic demand and output. Any positive effects of monetary policy on activity may help contain popular dissatisfaction with the government.

New Zealand COVID-19 fightback prospects are positive

2020 ◽  
Keyword(s):  
New Zealand ◽  
Political Parties ◽  
Interest Rates ◽  
Financial Market ◽  
Media Coverage ◽  
Market Liquidity ◽  
Content Type ◽  
Reserve Bank ◽  
Global Demand ◽  
The Government

Significance The government has locked the country down for four weeks and legislated to borrow up 52 million dollars (30.7 million US dollars), equivalent to 17% of GDP. The Reserve Bank of New Zealand (RBNZ) is using several monetary policy tools to meet its inflation and employment targets, keep interest rates low and support financial market liquidity. Impacts Tourism, the largest export-earner, and high-earners logging and education, will suffer. Dairy, meat and horticultural exports will be shielded by continuing global demand, aided by a weak New Zealand dollar. The country heads into the COVID-19 crisis with low debt-to-GDP, but debt taken out now will take a future toll. Opposition and minor political parties will get reduced media coverage, while the September general election may be delayed.

scholarly journals An empirical examination of Green Star certification uptake and its relationship with BIM adoption in New Zealand

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Dat Tien Doan ◽  
Ali GhaffarianHoseini ◽  
Nicola Naismith ◽  
Amirhosein GhaffarianHoseini ◽  
Tongrui Zhang ◽  
...  
Keyword(s):  
New Zealand ◽  
Statistical Tests ◽  
Green Building ◽  
Building Performance ◽  
Performance Modelling ◽  
Empirical Examination ◽  
Content Type ◽  
Building Information ◽  
Potential Benefits ◽  
The Government

PurposeGreen building information modelling (BIM) has been highlighted as an essential topic owing to its potential benefits. However, both Green Star and BIM are still in their earlier stages in New Zealand. This paper aims to examine and evaluate the benefits, barriers/challenges and solutions for the integration of Green Star and BIM in New Zealand.Design/methodology/approachIn this paper, a total of 77 responses collected from construction professionals in New Zealand using questionnaires were analysed through descriptive and statistical tests.FindingsBuilding performance modelling used for Green Star assessment can be implemented using BIM; this was highlighted as the most significant benefit of the integration. Whereas, the most significant barrier preventing the integration of Green Star and BIM was the fact they are two completely separate processes. Regarding the solutions for the integration, showcasing BIM-Green Star benchmark projects was considered as the most effective solution amongst a range of eight provided.Originality/valueThe research provided insights into Green Star–BIM integration in New Zealand. By evaluating the significance of the benefits, barriers/challenges and solutions for the integration, this research could be used as a guideline for Green Star and BIM development by New Zealand Green Building Council (NZGBC), the Government and construction practitioners in New Zealand. Specifically, the results here could be valuable inputs for Green Star manuals and the New Zealand BIM handbook.

New Zealand coalition’s fortunes rest on 2019 moves

2018 ◽  
Keyword(s):  
New Zealand ◽  
Public Support ◽  
Capital Gains ◽  
National Party ◽  
Content Type ◽  
The Government

Significance The coalition reaches this anniversary amid strong fiscal and economic prospects for New Zealand and with firm public support. Impacts The government’s social and environment initiatives are likely to concern businesses further. The National party will take some time to rebuild itself as an effective opposition. If Labour leads the government post-2020, new taxes could come including on the environment and capital gains.

Fostering the development of Oman’s knowledge economy pillars through ICT

2020 ◽  
Vol 50 (4) ◽  
pp. 691-714
Author(s):  
Kamla Ali Al-Busaidi
Keyword(s):  
Knowledge Economy ◽  
Economic Value ◽  
National Level ◽  
Developed Countries ◽  
Information And Communications Technology ◽  
Economic Diversification ◽  
Firm Level ◽  
Content Type ◽  
Developed Economies ◽  
The Government

Purpose Information and communications technology (ICT) is the driving force and key enabler of a knowledge economy. The purpose of this study is to identify the critical ICT indicators that foster the development of the knowledge economy and its main pillars (education, innovation and economic and institutional regimes) in Oman. Design/methodology/approach The study used a qualitative approach and conducted four Delphi studies on four groups of experts (ICT experts, educators, innovation experts and economists) in Oman. Findings The results indicated that the most commonly top-listed ICT indicators of a boost in the country’s knowledge economy are related to the national level (total research and development expenditure on ICT, ICT patents as a percentage of national total and ICT as an overall priority for the government), firm level (the proportion of businesses using the internet, the proportion of businesses using computers and the proportion of businesses with a Web presence), and inhabitant level (mobile phone subscribers per 100 inhabitants, internet subscribers per 100 inhabitants and personal computers per 100 inhabitants). Originality/value ICT is the driving pillar of a knowledge economy. The literature indicated that most of the ICTs for development studies are conducted in developed countries; hence, there is a great need for investigations in the context of less developed economies such as Oman. This study can provide insights for the country on how to develop and exploit ICT to boost the development of the overall knowledge economy and its pillars and to provide guidance for exploiting ICT to gain economic value. Oman’s vision for 2020 and 2040 aims at economic diversification; the knowledge economy is a critical aspect of the country’s economic diversification. In addition, the literature indicated that the relationship between ICT and development is still not clear; hence, this study provided some insights into the context of knowledge economy development.

High US government debt does not itself raise risks

2021 ◽  
Keyword(s):  
Economic Growth ◽  
Financial Markets ◽  
Interest Rates ◽  
Federal Reserve ◽  
Government Debt ◽  
Business Investment ◽  
Content Type ◽  
Us Government ◽  
Deficit Spending ◽  
The Government

Significance Some economists are suggesting that, over the longer term, this could cause financial markets to stop buying US debt and charge prohibitively high rates, and cause the dollar to crash. Other economists argue that more deficit spending could fuel output and so keep relative debt levels in check. Impacts The government retirement trust funds will continue to be major buyers of government debt. In the recovery and beyond, financing the debt could raise private borrowing costs, reduce business investment and slow economic growth. High and rising debt might constrain policymakers in their ability to respond to unforeseen events. A higher debt path that boosts interest rates would give the Federal Reserve more flexibility in implementing monetary policy.

Small parties are key to averting El Salvador default

2016 ◽  
Keyword(s):  
El Salvador ◽  
Government Debt ◽  
Fiscal Crisis ◽  
Content Type ◽  
International Mediation ◽  
Governance Effectiveness ◽  
State Finance ◽  
The Government

Subject Fiscal crisis in El Salvador. Significance On October 13, ratings agency Standard & Poor's downgraded El Salvador's rating to B from B+, citing a "deterioration in our assessment of El Salvador's institutional and governance effectiveness". This followed international and domestic warnings about El Salvador's fiscal situation, which is raising fears of default. With the government and the opposition locked in a stand-off, a fiscal deal currently looks unlikely without international mediation. Impacts El Salvador's financial struggles may weigh on security spending, particularly its 'El Salvador seguro' plan. Government debt is likely to trend upwards even following the eventual resolution of the fiscal crisis. Protests by healthcare and education workers demanding salary and benefit increases will add to state finance pressure.

New Zealand budget will help government for now

2018 ◽  
Keyword(s):  
New Zealand ◽  
South Pacific ◽  
Foreign Affairs ◽  
Content Type ◽  
Fiscal Management ◽  
Island States ◽  
Fiscal Restraint ◽  
Pacific Island States ◽  
The Government ◽  
Combat Climate Change

Significance The coalition has been in office since October 2017 under Prime Minister Jacinda Ardern. This budget combines fiscal restraint with increased social, foreign affairs and aid spending and infrastructure investment. The government will produce two further budgets before its current term ends. Impacts The budget will support Wellington’s efforts to increase its diplomatic presence in and aid to South Pacific island states. In increasing its diplomatic presence in the South Pacific, New Zealand will vie with China for influence, and try to combat climate change. Effective fiscal management will reinforce New Zealand’s financial capacity to manage environmental and economic difficulties.

The establishment of savings banks in colonial New Zealand 1840-1907

2016 ◽  
Vol 22 (4) ◽  
pp. 371-388 ◽  
Author(s):  
Andrew Cardow ◽  
William Robert Wilson
Keyword(s):  
New Zealand ◽  
Alternative Source ◽  
Content Type ◽  
Working Classes ◽  
Savings Banks ◽  
Savings Bank ◽  
Private Savings ◽  
The Government ◽  
Balance Set ◽  
The Uk

Purpose This paper aims to highlight the reasons for the establishment of savings banks in New Zealand, with a primary thesis being that savings banks in New Zealand were intended to operate in a similar way to those in the UK. That is, to provide banking services to the working classes and supply revenue to a cash-strapped government. Savings banks were reasonably successful in meeting the needs of their depositors but provided little revenue to the government. This gives rise to a secondary thesis that, when the Government was presented with the opportunity to establish the Post Office Savings Bank (POSB), they did so with revenue in mind. Design/methodology/approach Contemporaneous scholarly discussion along with newspaper, primary sourced bank and government archives builds an interpretation of why savings banks were established in New Zealand. This interpretation is presented in the form of a narrative, which tells the story of the rise of private savings banks in New Zealand and their eventual stagnation when the POSB was introduced. Findings Savings banks in New Zealand were initiated by Governor Grey primarily to provide an alternative source of development funding. New Zealand savings banks, initially modelled on UK and New South Wales variants, also appear to have been designed to meet the needs of the working classes, with deposits limited to £50 a year and a maximum balance set of £100 in total. However, as the requirement to invest in Government debt was removed from their founding legislation, they mainly provided mortgages to their local communities. To some extent, this situation was remedied in 1867 when the POSB was established, as it was required to invest as directed by the Government. Originality/value The narrative highlights the importance of savings banks and the POSB to both the people and government of New Zealand. This research adds to the discussion surrounding the purpose of savings banks and details the contributions made by both savings banks and the POSB in colonial New Zealand. As previous publications were in the main commissioned by various savings banks, this work provides an independent academic analysis of the first savings banks in colonial New Zealand in the period from the signing of the Treaty of Waitangi in 1840 until New Zealand became a dominion in 1907.

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