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The Government announces huge boost to NZDF spending, US tariffs causing a financial bloodbath, and ways to save when money is tight.
The Government has revealed it will pump billions into the Defence Force as it releases its long-awaited defence capability plan this afternoon.
Around $12 billion has been committed over the next four years – including $9 billion of new spending.
The announcement means the country's spending on defence will increase from just over 1% of GDP to more than 2% in the next eight years.
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New Zealand's stock market took a big hit, falling 3% since it opened at 10am. The Australian sharemarket was a sea of red with shares plunging more than 6% at the opening bell, while Japan's Nikkei fell by more than 8% shortly after it opened.
"Sometimes you have to take medicine to fix something," said the US President in response to concerns about the global market fall.
The White House says more than 50 countries targeted by the new tariffs have reached out to begin negotiations over the import taxes.
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Ten crews from Anzac, Christchurch City, Woolston, Spreydon, Wigram and Redwood are currently in attendance at the blaze on Maces Rd, Bromley.
"If the smoke is impacting your property, please close all doors and windows," a Fire and Emergency spokesperson said.
Smoke from a large controlled burn in Christchurch's northeast drifted over parts of the city earlier today.
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The closure, first announced last year, will see buses replace trains over the school holidays between April 12 and 27.
Rail workers will be focused on maintenance, renewal, and upgrade projects, according to KiwiRail, which will help support the opening of the City Rail Link project next year.
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Following a $29 million allocation in the most recent Budget to address outstanding tax debts, the department has provided an update on the progress of its enhanced compliance work.
Around $600 million in additional tax that should have been declared was found in the 3600 audits opened between July and December 2024, increased by 50% compared with the same time last year.
"We’ve had a strong focus on the largest businesses in New Zealand and it’s worth noting that half of that additional tax came from less than 10 audits," said segment lead for significant enterprises Tony Morris.
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It’s the type of economy right now where the advice to “just spend less than you earn” feels about as useful as a chocolate teapot.
We’re already cutting back, questioning every Uber ride, and giving side-eye to the power bill.
Frances Cook has some tips on simple ways to save, even when money is tight.
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