The Finance Minister has called Wellington City Council a 'shambles'.

The City Council is having to look at its 10 year budget again after a vote last week to reverse its airport shares sale.

It’s having to find cuts as the decision leaves a gap estimated to be worth hundreds of millions.

Nicola Willis says the Local Government Minister’s watching the situation closely.

"There are a number of options that he has - you often hear people talking about a commissioner, but there are things other than a commissioner that he can do."

LISTEN ABOVE

The Finance Minister has called Wellington City Council a 'shambles'.
The City Council is having to look at its 10 year budget again after a vote last week to reverse its airport shares sale.
It’s having to find cuts as the decision leaves a gap estimated to be worth hundreds of millions.
Nicola Willis says the Local Government Minister’s watching the situation closely.
"There are a number of options that he has - you often hear people talking about a commissioner, but there are things other than a commissioner that he can do."
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 says the Government will be keeping an eye on Wellington Council's financial situation

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/8604b535-7d1f-4a52-8650-b20900691d97/transcript

 A public inquiry is to begin later in Salisbury, England, to examine how a woman was killed in a 2018 poisoning blamed on Russian agents.

44-year-old Dawn Sturgess died after spraying herself with Novichok - the same chemical weapon used to target a former Russian spy four months earlier.

UK correspondent Gavin Grey says the inquiry will examine the circumstances leading up to the death and establish where the responsibility for the incident lies. 

LISTEN ABOVE

&nbsp;A public inquiry is to begin later in Salisbury, England, to examine how a woman was killed in a 2018 poisoning blamed on Russian agents.
44-year-old Dawn Sturgess died after spraying herself with Novichok - the same chemical weapon used to target a former Russian spy four months earlier.
UK correspondent Gavin Grey says the inquiry will examine the circumstances leading up to the death and establish where the responsibility for the incident lies.&nbsp;
LISTEN ABOVE

Gavin Grey: UK correspondent on the inquiry into the poisoning of woman killed by nerve agent

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/b1b786ea-0867-4923-b1c3-b209007b88aa/transcript

Over in China, officials have outlined plans to further stimulate the economy amid an ongoing downturn.

China's Ministry of Finance announced that China would issue special sovereign bonds to recapitalise its largest state owned banks.

It would also allow local Governments to use RMB 2.3 trn of local Government special bonds to buy unsold homes.

Harbour Asset Management's Shane Solly explains what this development might mean for the markets.

LISTEN ABOVE

Over in China, officials have outlined plans to further stimulate the economy amid an ongoing downturn.
China's Ministry of Finance announced that China would issue special sovereign bonds to recapitalise its largest state owned banks.
It would also allow local Governments to use RMB 2.3 trn of local Government special bonds to buy unsold homes.
Harbour Asset Management's Shane Solly explains what this development might mean for the markets.
LISTEN ABOVE

Shane Solly: Harbour Asset Management spokesperson on China's efforts to stimulate its economy

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/b8e56c1a-f323-4095-99c1-b2090078ec25/transcript

One Kiwi investor believes more New Zealand businesses should be putting money aside in order to expand internationally.

Phase One CEO Mahesh Muralidhar says this would boost the nation's GDP and add to the economy.

He says Kiwis have plenty of entrepreneurial ability - but they lack the ability to see scale like their international counterparts. 

"The same entrepreneur, the same university student in the US or in India has the same level of skills as anyone in New Zealand - but they see scale and we don't. We have to go out of our way to start thinking globally from day one."

LISTEN ABOVE

One Kiwi investor believes more New Zealand businesses should be putting money aside in order to expand internationally.
Phase One CEO Mahesh Muralidhar says this would boost the nation's GDP and add to the economy.
He says Kiwis have plenty of entrepreneurial ability - but they lack the ability to see scale like their international counterparts.&nbsp;
"The same entrepreneur, the same university student in the US or in India has the same level of skills as anyone in New Zealand - but they see scale and we don't. We have to go out of our way to start thinking globally from day one."
LISTEN ABOVE

Mahesh Muralidhar: Phase One CEO says New Zealand businesses should save money to expand overseas

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/d39c7ea9-5e19-4f95-a54b-b2090072bcea/transcript

Nicola Willis: Finance Minister says the Government will be keeping an eye on Wellington Council's financial situation

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