ACC wants to administer inflation at more than double the RBNZ’s target rate

ACC levies are set to rise at more than double the inflation rate targeted by the RBNZ. Photo: Lynn Grieveson

Kia ora. Long stories short, here’s my top six things to note in Aotearoa’s political economy around housing, climate and poverty on Thursday, September 12:

1. The state-owned monopoly for accident insurance wants to administer price hikes over the next three years at more than double the middle of the Reserve Bank’s target band for inflation.

2. David Seymour’s new anti-red-tape ministry is now four times the size of the Productivity Commission it replaced and has spent $400,000 on consultants in six months, Andrea Vance reported for The Post-$$$ this morning.

3. In solutions news, the Electricity Authority has tweaked its wholesale market rules to try to cap the price at $500/Mwhr.

4. In Quote of the Day, Shane Jones lists the exporters threatening to pull out of New Zealand because of high energy prices.

5. In our Chart of the day, the United States is now producing 50% more oil than Saudi Arabia.

6. In our Climate graphic of the day, a new global survey has found 69% of people believe earth is close to triggering its climate and ecological tipping points.

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(There is more detail, analysis and links to documents below the paywall fold and in the podcast above for paying subscribers.)

The Top Six on Thursday, September 12

1. ACC proposes fee hikes double inflation target