NZ pledges to unleash economic potential in ’25

New Zealand’s Prime Minister Christopher Luxon stated on Tuesday that the government will prioritise unleashing growth to increase incomes, support local businesses, and generate opportunities in 2025.

Luxon stated in his address to parliament that the government had taken difficult steps to reduce the cost of living and set the groundwork for a more robust economy, increased incomes, and greater opportunities for New Zealanders to succeed.

In 2025, the prime minister outlined priorities including fast-tracking comprehensive Resource Management Act reform, rewriting health and safety laws, expanding mining opportunities, and reducing red tape for farmers to grow their businesses.

Luxon noted positive indicators in 2024, including decreasing inflation, falling interest rates, rising wages outpacing inflation, and increasing business and consumer confidence.

Attribution: Xinhua

Subediting: Y.Yasser