The Finance Minister says there's no bail-out on the cards for Air Zealand at this stage - as the conflict in the Middle East causes a surge in jet fuel prices.

The national carrier has already raised fares, and cancelled about 1100 upcoming flights.

Nicola Willis says she thinks there will be some shifts in airline patterns around the world - which will mean jet fuel remains available.

"And I think Air New Zealand has every opportunity to compete for customers, we now look like a very safe country compared to a lot of other destinations where people might have wanted to have a tourist experience three weeks ago."

LISTEN ABOVE

The Finance Minister says there's no bail-out on the cards for Air Zealand at this stage - as the conflict in the Middle East causes a surge in jet fuel prices.
The national carrier has already raised fares, and cancelled about 1100 upcoming flights.
Nicola Willis says she thinks there will be some shifts in airline patterns around the world - which will mean jet fuel remains available.
"And I think Air New Zealand has every opportunity to compete for customers, we now look like a very safe country compared to a lot of other destinations where people might have wanted to have a tourist experience three weeks ago."
LISTEN ABOVE

With a straight down the middle approach, Heather du Plessis-Allan Drive on Newstalk ZB delivers the very latest news and views to New Zealanders as they wrap up their day.

Heather du Plessis-Allan Drive

Nicola Willis: Finance Minister on the financial impact of the ongoing crisis in the Middle East

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/f9ef74c2-d32d-4834-b775-b40f00605926/transcript

There's growing concern about the impact of the Middle East conflict, and at least one major bank has forecasted increases to the OCR.

ANZ has revised its outlook, with forecasted increases to the OCR bringing rates up to 3 percent by October.

Associate Finance Minister Chris Bishop says skyrocketing fuel prices will have a flow-on effect on the New Zealand economy - and it's likely inflation will spike too.

"That's an unfortunate reality of global events...the forecast will properly come out with the Budget, that's the kind of next major event."

LISTEN ABOVE

There's growing concern about the impact of the Middle East conflict, and at least one major bank has forecasted increases to the OCR.
ANZ has revised its outlook, with forecasted increases to the OCR bringing rates up to 3 percent by October.
Associate Finance Minister Chris Bishop says skyrocketing fuel prices will have a flow-on effect on the New Zealand economy - and it's likely inflation will spike too.
"That's an unfortunate reality of global events...the forecast will properly come out with the Budget, that's the kind of next major event."
LISTEN ABOVE

Chris Bishop: Associate Finance Minister on the prospect of the OCR going up

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/3515ae83-038e-4989-be8a-b42b006fe894/transcript

Labour's leader is demanding clarity on spending commitments in the India free trade deal - and isn't sure whether the party will back it. 

The deal lives or dies on Labour's decision, with Coalition party NZ First refusing support. 

Chris Hipkins says he's concerned about a clause he claims requires Kiwi businesses to invest $30 billion in India over 15 years. 

He says he wants to see legal advice before making a final call. 

"If that is a binding commitment, that we have to spend $2 in India for every dollar we get back from India, then is that a deal we should be supporting? That's a very live question for us."

LISTEN ABOVE

Labour's leader is demanding clarity on spending commitments in the India free trade deal - and isn't sure whether the party will back it.&nbsp;
The deal lives or dies on Labour's decision, with Coalition party NZ First refusing support.&nbsp;
Chris Hipkins says he's concerned about a clause he claims requires Kiwi businesses to invest $30 billion in India over 15 years.&nbsp;
He says he wants to see legal advice before making a final call.&nbsp;
"If that is a binding commitment, that we have to spend $2 in India for every dollar we get back from India, then is that a deal we should be supporting? That's a very live question for us."
LISTEN ABOVE

Chris Hipkins: Labour leader says party waiting for legal advice before India trade deal decision

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/f0f1eace-557e-499a-b171-b42b0067b443/transcript

A warning Iran has more ways to inflict economic pain if war resumes with the US, other than in the Strait of Hormuz.

Donald Trump's threatening a navy blockade of the shipping lane from 2am NZT after talks in Pakistan have brought no deal.

Iran says military vessels approaching the Strait will be dealt with severely.

Reuters Middle East correspondent Alexander Cornwell says UAE and Saudi Arabian oil terminals could be at risk.

"The Iranians have proven that they have the capability of hitting both of these sites - and there is also the question of Yemen's Houthis and whether they will try, once again, to close or restrict the Red Sea."

LISTEN ABOVE

A warning Iran has more ways to inflict economic pain if war resumes with the US, other than in the Strait of Hormuz.
Donald Trump's threatening a navy blockade of the shipping lane from 2am NZT after talks in Pakistan have brought no deal.
Iran says military vessels approaching the Strait will be dealt with severely.
Reuters Middle East correspondent Alexander Cornwell says UAE and Saudi Arabian oil terminals could be at risk.
"The Iranians have proven that they have the capability of hitting both of these sites - and there is also the question of Yemen's Houthis and whether they will try, once again, to close or restrict the Red Sea."
LISTEN ABOVE

Alexander Cornwell: Reuters Middle East correspondent on Donald Trump threatening a navy blockade of the Strait of Hormuz

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/d3d73375-8b06-41f8-be08-b42b00635a33/transcript

Nicola Willis: Finance Minister on the financial impact of the ongoing crisis in the Middle East

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