....there could be.
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....there could be.
Insurance is becoming a luxury ...my 5 years old cars ...last all 5 years insurance premium went up while agreed value going down ...this year being the steepest increase ...thats the cost of kindness of previous Govt ...as AKL is the main contributor of car thefts and accidents etc which gets passed to all ...I reckon they should try to increase no claims bonuses to reward safer drivers and securer cars etc ...
I renewed mine about 3 months ago on my two year old DMAX. I couldn't believe it, no increase!
Maybe they have been ripping me for the last year who knows, but I locked it in real quick.
It's on full new replacement vehicle as well so no reduction in value insured.
Rising insurance premium is not going to help for the economy and householders. Up by over 30% in some parts of the country. Some will try to find other options.
Here’s a thought. Are higher rates stimulative? The US govt pays $2m per minute on its debt. With higher saving and deposit rates is there a wealth effect for those holdings lots of cash?
ASB offering Productivity Grants. Your business could get a share of $5 million in Productivity Grants when you take out business lending.
https://www.asb.co.nz/business-banking/productivity.html?fm=body:themes:asb-13843-business-productivity-homepage
Interesting report on Business productivity in New Zealand.
NZIER report to ASB February 2024
https://www.asb.co.nz/content/dam/as...22-02-2024.pdf
Business productivity in New Zealand. Assessing the drivers and barriers in the international context
• New Zealand’s productivity paradox is well documented and traversed. Despite improving economic growth, productivity growth has lagged that of the other small advanced economies (SAEs).1 Productivity in New Zealand is driven by increasing labour productivity, which has been driven by an increasing labour force.
• A number of factors have been found to contribute to New Zealand’s low productivity. Key factors are capital shallowness, or low investment in both tangible and intangible capital and R&D, and low rates of diffusion of technology and innovation and reallocation of resources from less productive to more productive uses. A low level of dynamic capability within businesses also reduces their absorptive capacity to adopt and implement new ideas or technologies.
• International examples from the Nordic economies, Ireland and Singapore, indicate that exposure to international competition and strong, stable domestic innovation clusters or ecosystems are important in encouraging businesses to innovate and grow. This promotes the diffusion of new ideas and reallocation of resources across the economy.
• Successive policies have not increased innovation in New Zealand. This is, in part, because New Zealand lacks the longstanding ecosystems of business, research institutions and government agencies that support innovation in other SAEs.
• The pressing issue for New Zealand businesses is to build their understanding and appetite for innovation and investment as an engine for growth and sustainability. Geographic distance is not a protection from the effects of digital disruption and international innovation.
• Our findings point to three key levers to driving productivity growth in New Zealand:
1 an innovation ecosystem involving businesses, research institutions and government agencies to collaborate more effectively to develop shared goals and plans;
2 exposure to international competition, such as through exporting, which motivates firms to innovate to compete more effectively;
3 minimal policy or regulatory obstacles when firms are motivated to innovate and scale.
• This provides a prime opportunity for banks to play their part in driving productivity growth by supporting businesses with financial investment in technology, innovation and developing export markets.
I'm doing my part through using a fintech to lower my exchange fees compared to ASB. :D
Taking into account the effect of inflation, the tax levied on fixed interest deposits/investments also becomes a wealth tax. It also pushes kiwis into seeking investments with higher capital gains.
Higher rates of fixed rate savings by individuals/households shouldn’t be a bad thing if it provides a pool of capital for businesses to borrow for their capital expansion. We need new tax shelters for individuals and major tax reform.
Jim Simons, billionaire quantitative investing pioneer who generated eye-popping returns, dies at 86
His flagship Medallion Fund enjoyed annual returns of 66% between 1988 to 2018
https://www.cnbc.com/2024/05/10/jim-...ies-at-86.html
probably the greastest trader of the time. who said traders cant make it big time.