Category: Business

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Government science cuts take New Zealand even further backward

Source: Council of Trade Unions – CTU

NZCTU Te Kauae Kaimahi President Richard Wagstaff is deeply concerned about the future of investment in science, following the latest announcement of another 60 jobs cuts at Environmental Science and Research (ESR). The Government has now axed more than 500 jobs in the public science sector.

“The Government doesn’t seem to believe in the value of science and isn’t interested in making the investment required. Instead, it is taking us backwards and slashing funding in favour of tax cuts for landlords and tobacco companies,” said Wagstaff.
 
“We should be increasing investment in science and properly funding Crown Research Institutes (CRIs) and universities. New Zealand is only spending about half the OECD average on science and research and development (R&D) already.
 
“It’s well known that countries that invest a higher proportion of GDP directly in R&D (both private and public) see greater returns economically, socially and environmentally.
 
“The decision to make these cuts has been made even though the report of the Science System Advisory Group report is due out shortly, which demonstrates the lack of commitment there is to listen to the evidence on the importance of science investment.
 
‘The Government talks about the need to tackle our poor productivity performance, and the need for a longer-term plan to arrest our decline, but their actions continue to take us in the opposite direction.
 
“It’s time we had a serious conversation about science, and we urgently need a government that is prepared to have that conversation and not just bury it’s head in the sand,” said Wagstaff.
 
Note:
The CTU and several affiliated unions are member organisations of the Save Science Coalition. The Save Science Coalition released a report in July this year about the cuts to science funding and staffing so far, which can be found here. The group is now working on an update to this report, to account for the ongoing cuts we are seeing at GNS, ESR and elsewhere. The report will contain more detailed numbers and information and is expected to be released before the end of the year.

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Monthly Employment Data shows weakness in economy

Source: Council of Trade Unions – CTU

Monthly employment data released today by Statistics New Zealand showed our continuing labour market weakness, and particularly challenging conditions for young working people, said NZCTU Te Kauae Kaimahi Economist Craig Renney.

“There are 21,000 fewer filled jobs than this time last year, and the fall has been led by those starting out in work. There are 25,000 fewer jobs being filled by people aged 15-24 than a year ago. This data shows that right now, it’s a hard place to find work for young people.”

“On an annual basis, weakness in the labour market was particularly evident in Auckland (down 10,500 filled jobs) and Wellington (down 3,000). The number of filled jobs fell 2% in Southland, 1.7% in Taranaki, and 1.1% in Manawatū-Whanganui. This data won’t yet reflect the significant layoffs in places like the Smithfields Timaru site or Winstone Pulp International in Ruapehu.”

“Annually, construction seems to be the most adversely affected sector, with a loss of more than 10,000 filled jobs. Accommodation and food services have 7,000 fewer filled jobs, and manufacturing sees nearly 6,000 fewer filled jobs. Administration and support services sees 7,000 fewer filled jobs. Private sector employers seem to be losing staff quickly in this labour market.”

Renney said, “The pressure is also applying to earnings. Annually, accrued earnings rose 0.8%, the slowest September rate since this series began in 2019. Here, unemployment is forecast to rise further to 5.5% in the near future, while job growth in the US and the UK is ahead of forecasts, and Australia put on an additional 47,500 jobs last month.”  

“This data shows that the labour market needs a plan, one that focusses on helping people into good, long-term work. Yet the government is doing the opposite – making work more insecure, taking away essential investment, and it has no employment plan, except more sanctions. There are things we could be doing to manage the pain being felt for working people right now. But the government is choosing not to deliver them.”

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New app set to slash merchant payment fees and transform how NZers manage their money

Source: BNZ statements

Imagine running a bustling café where every transaction not only saves you money on fees, but also automatically updates your loyalty programme, provides smart sales insights, and even puts you on the map for potential new customers.

Meanwhile, your regulars can pay their brunch bill without even bringing a wallet, quickly send their share of the brunch tab to friends, manage their bank accounts, loyalty cards and gift vouchers seamlessly in one place, and easily track their daily flat white habits.

Soon this will be the reality for New Zealand businesses and their customers with the launch of Payap – the country’s first digital wallet and Point of Sale (POS) app compatible with all New Zealand banks.

Leveraging the power of open banking, Payap offers a new lower cost, contactless way to pay and get paid. Payap makes transactions effortless: users simply scan QR codes dynamically generated on an EFTPOS terminal, enabling instant cash transfers directly from their bank account. It also provides a low-cost ecommerce solution, making it easy and affordable for businesses to accept payments online.

     

With Payap’s 0.39% payment acceptance rate, a retail business turning over $100,000 monthly could save up to $7,320 annually compared to the average 1% merchant service fee reported by the Commerce Commission. For ecommerce businesses, Payap’s 0.59% fee is approximately 80% cheaper than the percentage fees charged by some other providers.

  • Businesses using Payap also have access to a suite of powerful features, including:
  • The ability to create and manage loyalty programmes, making it easy to reward customers and build brand loyalty
  • Enhanced visibility over transactions and the ability to manage discounts and refunds through a dedicated portal
  • Increased visibility with Payap’s ‘store finder’ map, showcasing location, business details, and available offers to app users
  • Use existing hardware – Payap is supported by all leading EFTPOS providers

For consumers, Payap brings together all your accounts from New Zealand banks, as well as loyalty, and even gift cards in one easy-to-use digital wallet. It allows seamless payments from any linked account and offers a range of features that simplify money management:

  • Manage your bank accounts, loyalty, and gift cards in one place
  • Split a payment across multiple sources, combining different bank accounts, debit cards, or gift card balances, all managed seamlessly within Payap
  • Easily split bills or manage shared expenses with friends with peer-to-peer payments
  • Log all your receipts in one place and get smart insights to gain a clear view of your spending patterns
  • Level up your loyalty, with rewards automatically applied during transactions

      

Powered by New Zealand fintech Centrapay and backed by BNZ, Payap is now available for business sign-ups ahead of the March 2025 consumer launch. The onboarding process is quick and free, and businesses are encouraged to register their interest. Payap is available to all businesses regardless of who they bank with.

“Payap is the country’s first comprehensive digital payment service that leverages the power of open banking to fill a clear gap in the New Zealand market,” says Centrapay CEO Greg Beehre.

“We’re excited to introduce this innovative solution that will transform how businesses accept payments and how we manage our money.”

BNZ Executive Customer Products and Services, Karna Luke, says the potential Payap offers to both businesses and consumers is impressive.

“Our team is working closely with our business customers to onboard them before the consumer launch, and we expect thousands of businesses to be on the platform on day one when their customers start using the app.

“Payap is designed to benefit businesses across Aotearoa, and we welcome all interested businesses – from small street vendors to enterprise retailers and everything in between – to get in touch with us to explore how it can enhance their payment system and customer experience.”

Core payments, acceptance and rewards features will be available at launch, with additional capabilities like peer-to-peer payments being rolled out progressively throughout 2025.

Businesses interested in learning more about Payap can visit www.payap.com or www.bnz.co.nz/payap

The post New app set to slash merchant payment fees and transform how NZers manage their money appeared first on BNZ Debrief.

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Plant elicitors – a vaccine for plants? (BDIS)

Source: Plant and Food New Zealand – Press Release/Statement:

Headline: Plant elicitors – a vaccine for plants? (BDIS)

Plant elicitors have huge potential to help protect New Zealand crops from disease. Acting much like a vaccine, these elicitors allow plants to defend themselves better against disease. Coming from a biological source like seaweed, they offer a more ecologically friendly crop protection option, too.
This week James Sainsbury from our Ruakura site speaks to Dr Joel Vanneste about his research on the recently Ministry of Business, Innovation and Employment-funded, 5-year project on plant elicitors led by Dr Marie Magnuson and Chris Glasson from Waikato University. Listen along to learn more about plant elicitors and how they could help manage plant diseases, whether in crops or our native trees. To view our catalogue of podcasts, including extra links on some podcasts, please go to our Scigest page: www.plantandfood.com/scigest

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NZCTU alarmed at further cuts to WorkSafe

Source: Council of Trade Unions – CTU

WorkSafe’s announcement that it is planning even further restructuring and cuts just months after losing 15% of its staff has alarmed the NZCTU Te Kauae Kaimahi.

“Our health and safety regulator is a critical component of our health and safety system, and we know it already has an undercooked capacity to deliver on its role,” said NZCTU President Richard Wagstaff.

“Taking more people out to save money to pay for tax cuts is short-term thinking that will have long term consequences for the health and safety of New Zealand workers.

“WorkSafe is now set up to fail. They have stripped down the organisation to its bare bones, throwing whatever they can to the so called ‘front line’ inspectorate, knowing full well that without a well-resourced support function, the inspectorate will be less effective. 

“Everyone in New Zealand has the right to expect a safe workplace and to be able to come home safely to their family at the end of the day. Sadly, these cuts will mean more workers will be at-risk.

“This announcement is all smoke and mirrors. The fact remains that WorkSafe, remains well short of the numbers of inspectors the agency once had when it was created in 2013. At that time, we had 8.4 inspectors per 100 thousand workers (similar to Australia) and now it has been run down to 6.3 – a level we last saw when the Pike River disaster occurred.

“Compounding this problem is the lack of support, and the expectation in this latest proposal for inspectors to pick up more administrative and other functions on top of their day job. This makes a mockery of the claims to move resources to the front line.

“These proposals signal a further shift away from protecting workers from risks to their health and safety and towards a focus to responding to harm. WorkSafe has had to shrink away from its proper role to fit the budget.

“Our health and safety system relies on an effective regulator. This latest announcement demonstrates yet again that health and safety is just not a priority for the Government,” said Wagstaff.

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New Zealand insolvencies rise as voluntary administration gains popularity

Source: Press Release Service – Press Release/Statement:

Headline: New Zealand insolvencies rise as voluntary administration gains popularity

Latest business insolvency data has revealed the highest single-quarter figure since 2016, but an increasing number of Kiwi business owners are exploring alternatives to liquidation for survival.

The post New Zealand insolvencies rise as voluntary administration gains popularity first appeared on PR.co.nz.

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