Cost of living payment NZ

2022 - 7 - 30

Post cover — Image courtesy of "Newshub"

Cost of living payment explainer: When your money will turn up ... (Newshub)

Kiwis will find their money directed to their bank account if they earn $70,000 or less and are not entitled to receive the Winter Energy Payment. The payment ...

Economist: 60% of cost-of-living payment already eaten by inflation (Mortgage Professional America)

The scheme wouldn't make much of a difference to Kiwis, one financial adviser says.

It may have been better to give people on lower incomes a more meaningful payment rather than spreading the available funds so thinly. “For people who are at the top end of the income cut-off, it verges on being insulting,” Koh told Stuff. “At that level of income, it is about 0.6% of after-tax income, yet we have inflation of over 7% and a massive increase in people's mortgage repayments due to higher interest rates. The payment came out to about $27 a week.

Roughly 2.1-million New Zealanders will wake up with a little extra ... (NZCity)

The payment will be made automatically into people's bank accounts and recipients are urged to check Inland Revenue has their correct details. Revenue Minister ...

Roughly 2.1-million New Zealanders will wake up with a little extra cash in their pocket tomorrow 31 July 2022 Roughly 2.1-million New Zealanders will wake up with a little extra cash in their pocket tomorrow

Veges, nappies and a warm coat: Cost of living payment will be ... (Stuff.co.nz)

Eligible Kiwis will start to receive their first $116 Government payment on Monday. For many, it's a drop in the bucket and already spent.

I’m sure that the petrol companies and grocery companies are making a good living out of us whilst we’re suffering.” “You know, food, nappies, pretty much the essentials for my son.” And those articles are free. Meanwhile, Etu Tokotaua will be spending some of the money on a meal out with his friend. “I’m finding I’m actually struggling at the moment just to be at work to support my family, I have to be at work everyday so that we can have that roof over our head and be able to get the food that my baby needs.” She thought she should be eligible for the payment which she’d spend on the basics: “probably fruit and vegetables to be honest”.

Prime Minister Jacinda Ardern says a reduction in spending having ... (New Zealand Herald)

On Q+A she said global causes and factors were instead driving inflation.

"You'll see that we've tried to be agile to the circumstances we see and we'll continue to see what impacts these are having on New Zealanders and do what we can, we have a way to go with getting the food costs down which is another big project for us." "The opposition coming at us and saying that their response would be to see a reduction, that is a reduction in education, health care, law and order – very much where those significant investments have been about maintaining and growing services New Zealand relies on." "The responsibility we have is to help New Zealanders get through it and that's where you'll see that we've been so squarely focused on where we can take that pressure off. "The advice that we got from Treasury is that because it was time limited and targeted would lessen the potential impact on inflation," she said. She said the government has a willingness to do what is needed to take the pressure off Kiwis and would continue to do so if inflation continued to rise. Prime Minister Jacinda Ardern has said she'd be prepared to take an "honest" look into the drivers of inflation in New Zealand but reiterated that the country is in company with the rest of the world.

Ardern rejects claim Govt spending making inflation worse (1 News)

It comes ahead of the first instalment of the $350 cost of living support payment.

If it's costing more to transport goods and services, that has a knock-on effect. "The opposition coming at us and saying that their response would be to see a reduction in investment - that is a reduction in education, healthcare, law and order." "What we also know is that fuel costs knock on to other parts of the cost of living.