New Zealand Prime Minister John Key’s re-election with his party’s biggest mandate in 60 years will strengthen a government push for free-market policies as he pursues welfare cuts and asset sales to balance the budget.
Paul Ward imagined retiring in his “dream home” on Christchurch’s landmark river, the Avon, where he watched his two children grow up. Instead he’s selling his five-bedroom house to the government so it can be demolished along with half the suburb.
New Zealand central bank Governor Alan Bollard will probably hold interest rates at a record low tomorrow as inflation slows and a European debt crisis threatens the nation’s recovery from a February earthquake.
More migrants left New Zealand than arrived for the seventh month in the past eight, extending the biggest exodus in a decade, after residents were uprooted by an earthquake in the South Island city of Christchurch.