Labour govt 2020-23

[Logen Ninefingers]

‘Up to 260 jobs may go at Victoria University to address massive $33 million deficit. Staff at the Victoria University of Wellington (VUW) have been told to brace for job cuts as the University strives to cut costs even further.

An email to staff from vice-chancellor Nic Smith, seen by the Herald, said VUW is forecasting a deficit of $33 million this year and as a result, costs must be cut.’

[Logen Ninefingers]

‘Sanford plans to sell most of its North Island inshore wildcatch fishing rights to iwi-owned rival Moana New Zealand, and close its Auckland processing plant.

Sanford was evaluating the future of its Wynyard Quarter processing site in Auckland’s CBD, an area that has undergone significant change and is now very residential.

More than 100 staff would be impacted if the deal goes ahead.

Reidie met with staff in the processing facility on Monday morning and talked through future employment possibilities.’

[blackcap]

‘Up to 260 jobs may go at Victoria University to address massive $33 million deficit. Staff at the Victoria University of Wellington (VUW) have been told to brace for job cuts as the University strives to cut costs even further.

An email to staff from vice-chancellor Nic Smith, seen by the Herald, said VUW is forecasting a deficit of $33 million this year and as a result, costs must be cut.’

That is probably a good thing. The quicker these woke institutions get gutted, the better.

[Logen Ninefingers]

That is probably a good thing. The quicker these woke institutions get gutted, the better.

Not good for the property ponzi though….

[Logen Ninefingers]

‘Breaking news: Reserve Bank raises Official Cash Rate to 5.5%’

Homeowners should blame Labour’s budget blow-out shocker & ‘open borders’ mass immigration stupidity.

[nztx]

‘Breaking news: Reserve Bank raises Official Cash Rate to 5.5%’

Homeowners should blame Labour’s budget blow-out shocker & ‘open borders’ mass immigration stupidity.

And what further can be expected when Robbo starts tossing election treats out from his bag Willy Nilly very soon ?

Can almost guarantee which sectors / hand tied participants in this dopey game with ORR-SOME gliding around with the long handled butterfly net soon afterwards are going to be missed out of all the fun and action ..

[nztx]

https://www.nzherald.co.nz/business/...MFZ6NYZLGBWB4/

Retail sales down, signs of ‘stark’ year for Kiwi households

[nztx]

https://www.nzherald.co.nz/business/...LTKKA6GN2RNFE/

Richard Prebble: Mass immigration - Labour’s biggest U-turn will swamp our infrastructure

Enjoy the road trip folks .. lots more large pot holes coming up

but hey .. if the lights go out no-one will be any the wiser on who fell in ..

[Logen Ninefingers]

For those who may have been doubting that Orr is anything but an erstwhile Labour lackey -

‘Willis questioned how the former could be the case given the Treasury was forecasting government spending as a proportion of GDP was expected to rise from 32.5% of GDP to the higher level of 33% of GDP in the next financial year.

Orr appeared to briefly stumble at times as he checked data, but reiterated that the forecasts showed government spending falling in real terms as a proportion of GDP overall during its forecast period, which currently runs to June 2026.’

[nztx]

https://www.nzherald.co.nz/kahu/peak...OGDBGCR2K64AY/

Peak OCR pain: Auckland couple working four jobs to pay mortgage

A South Auckland couple working four jobs between them to pay their mortgage say they are contemplating moving to Australia after the latest Official Cash Rate (OCR) rise.

“We would have no other option but to migrate to another country,” Sunny Saharan, 37, and his wife Pooja Saharan, 34, said, telling the Herald they are short $450 every week.

The Reserve Bank (RBNZ) raised the OCR by 25 basis points to 5.5 per cent yesterday – and in a surprising move, said this was the OCR’s peak and anticipated cuts from late next year.

Economists and mortgage brokers were taken aback by the forecasts, given prior expectations were for a peak OCR of 6 per cent, with lower-than-expected forecast rates signalling a potential reprieve for homeowners.

Within minutes of the announcement, ASB lifted its interest rates. Its Housing Variable rate will move from 8.39 per cent to 8.64 per cent while the Orbit home loan rate moves from 8.49 per cent to 8.74 per cent.

The Saharans said their mortgage is unaffordable and if rates don’t drop when their current interest rate of 6.7 per cent expires next year they will leave the country.

The pair are juggling monthly $4500 mortgage repayments with raising their 1-year-old, Summer, and simply trying to survive.

Lots more of this suffering will be happening across the land - courtesy of Labour's incompetent economic policies