Geotechnical Investigation

Additional geotechnical investigations will be undertaken in the river corridor from Monday 29th January. The works include drilling and probing the ground using geotechnical drill rigs and thrust machines to explore the ground up to 35m below the surface. 
The geotechnical investigations shown at the site locations on the map below will commence one at a time from Monday 29th January between 8am – 6pm through to March 2024. 
Duration at each location will vary subject to the ground conditions encountered. No work will be carried out on Friday or Saturday nights, or during public holidays. Each investigation location will be isolated from the public with fencing or barriers to ensure the safety of those enjoying the area, and the safety of the team completing the works.

Mixed Trends in CPI Inflation: Decline in Tradable Goods, Rise in Services and Rent

The latest data indicates a slowdown in CPI inflation in New Zealand. This decrease is primarily observed in tradable goods, with significant drops in petrol prices and a continued decline in food prices over recent months. Notably, food price inflation is at its lowest in two years. However, domestic prices such as services and non-tradable goods are still on the rise, though at a slower pace. The non-tradable component of the food price index and rent price inflation remain high, with the latter reaching a 15-year peak. This mixed trend suggests a nuanced inflationary environment, with varying impacts across different sectors.

Business Confidence on the Rise: Lower Costs and Optimism in Services and Building Sectors

Business sentiment in New Zealand has shown signs of improvement, particularly in the services and building sectors. According to the NZIER’s Quarterly Survey of Business Opinion for the December 2023 quarter, businesses are indicating a willingness to pass on lower costs to consumers. Key inflation indicators like average costs and expected selling prices have eased. Despite high levels of expected price increases among businesses, there is a notable decrease compared to early 2022. Business confidence has risen post-election, largely driven by optimism about future economic conditions rather than current activities. The construction sector, in particular, has shown increased optimism, with residential construction intentions turning positive for the first time in two years. The easing of labour shortages and an increase in employment also contribute to this positive outlook.

Inflation in New Zealand continues to decline, but the battle isn’t over yet

• New Zealand’s consumer price index rose at an annual rate of 4.7 percent during the December quarter, a fall from the 5.6 percent increase in the previous September quarter. Though this is still considerably higher than the Reserve Bank’s target of 2-3 percent, this indicates a declining trend in inflation which peaked in June 2022 at 7.2 percent.
• Digging into the data, domestic inflation came in stronger than many had expected, with housing and household utilities prices the largest contributors to inflation during the December quarter. Rents, construction costs and local council rates posted gains of 4.5 percent, 3.6 percent, and 9.8 percent respectively. The next largest contributor to annual inflation was food prices, although these did fall 1.2 percent in the December quarter as fresh produce supply recovered from weather-related disruption.

Australia tax news

• The Australian Government has announced changes(external link) to a series of already-legislated Stage 3 tax cuts. From 1 July 2024 the Albanese Labor Government will: reduce the 19 per cent tax rate to 16 per cent (for incomes between $18,200 and $45,000); reduce the 32.5 per cent tax rate to 30 per cent (for incomes between $45,000 and the new $135,000 threshold); increase the threshold at which the 37 per cent tax rate applies from $120,000 to $135,000; and increase the threshold at which the 45 per cent tax rate applies from $180,000 to $190,000. In explaining the Government’s decision, Australian Prime Minister Anthony Albanese noted that many Australians are still struggling from increases in the cost of living and that revisiting the policy was the responsible thing to do given changing economic conditions.

US economy continues to surge despite slow global growth 

• United States economic data released last week suggests that the United States economy has managed to pull off a remarkable “soft landing”, with the economy continuing to show strong growth while consumer prices continue to decline. Figures released by the United States Bureau of Economic Analysisshowed that the economy expanded at a rate of 3.3 percent during the final quarter of 2023, well-above market expectations of an increase of 2 percent. This growth was driven by strong growth in private consumption, government spending, business investment, residential investment, exports and inventories.
• For the whole of 2023, the United States economy grew by 2.5 percent, which made it a distinct outlier among developed economies that are continuing to struggle with higher-than-normal inflation and interest rates.

Europe News

• Last week the European Central Bank (ECB) held its key interest rate steady. However, accompanying communications suggested the possibility the ECB may start cutting interest rates as soon as the upcoming northern hemisphere’s spring. Recent economic growth indicators suggest a weak end to 2023 for the Eurozone and ECB noted risks to economic growth are tilted to the downside.
• Outside of this macroeconomic news, there were couple of announcements of note for New Zealand businesses in the past fortnight. On Wednesday, 24 January, the European Commission set out plans to bolster the European Union's (EU) economic security. The package includes a legislative proposal to tighten foreign investor screening and export controls. While the announcement does not impact New Zealand businesses directly, the move underscores the increasing primacy of security concerns over economic orthodoxy in one of New Zealand’s major trading partners (and one of the world’s largest economic blocs). It also underscores the increasing economic rivalry between the EU and China.
• Finally, on 15 January the EU concluded its review of 11 existing adequacy decisions that had been adopted under the EU data protection legislation that preceded the EU General Data Protection Regulation. The EU determined that New Zealand ensures an adequate level of protection for personal data transferred from the EU. As a result, data transfers from the EU to New Zealand can continue to take place without additional requirements. This is good news for ease-of-doing business and trade in the digital age, and helps ensure smooth cross-border data transfers. Only a small number of countries have achieved EU adequacy status, and this recognition is important for New Zealand in a global business environment. For more information please see the EU press release.

Sustainability Stimulus Grant | Upper Hutt City Council

Are you passionate about shaping a sustainable future for our community? The Sustainability Stimulus Grant is still open for applications, but not for long! This initiative, by Upper Hutt City Council, aims to bring to life projects that contribute to a greener, more sustainable Upper Hutt. Whether it's reducing waste, protecting our native species, or rejuvenating our native forests, your idea could be the next big step towards sustainability.

We at the Hutt Valley Chamber of Commerce encourage you to seize this opportunity. Check out some inspiring examples from previous grant recipients and imagine what your contribution could be! For more details and to apply before the 10 March deadline, drop an email to askus@uhcc.govt.nz, or simply call (04) 527 2169.

Toxic Algae Warning | Greater Wellington Regional Council

Toxic algae warnings remain in place for Te Awa Kairangi/Hutt River at and upstream of Silverstream Bridge. Levels are moderate.
Toxic algae is present in multiple locations throughout the region. It is a risk to both dogs and swimmers, particularly children. Dogs should be kept on leads and away from the water, and children should be supervised.
Toxic algae is deadly to dogs, and can make people sick. 
If you have been in contact with toxic algae and are feeling unwell ring Healthline 0800 611 116. If you think your dog has swallowed toxic algae, take it to the nearest vet immediately. You can check for updates on any of the sites we monitor on the LAWA website below. 

Regional Industrial Land Study

Wellington Regional Leadership Committee need to build a clear picture of the region’s industrial land requirements to determine how to best support job creation and a healthy regional economy. Industrial land has typically been the cheapest and the most at risk from land-use changes, such as from industrial to retail. This trend is placing existing sites under development pressure.

Industrial land in the region is located in areas vulnerable to natural hazards, so some existing sites may not be usable in future. Given planning to retain industrial land is usually done (if at all) at a local level, there is a current knowledge gap of strategic industrial land requirements at a regional-level. 

The Regional Economic Development Plan (REDP) highlights that our region has never undertaken a coordinated approach to industrial land use or taken a region-wide view on how and where to bring businesses into our region. This project is one of the initiatives outlined in the REDP.

The Future Development Strategy (the regions spatial plan) also identifies this project as a priority focus.  The Housing and Business Development Capacity Assessment (HBA) undertaken as part of the Future Development Strategy projected that the by Dec 2051, the region will require another 697 hectares of industrial land.  This is equivalent to more than double the area of the Seaview/Gracefield/Moera area in Lower Hutt.

Hurricanes announce Captains for 2024 Super Rugby Season

We're thrilled to announce that Brad Shields and Jackie Patea-Fereti will lead the Hurricanes teams into the 2024 Super Rugby Season. 

In a significant development, Jordie Barrett and Asafo Aumua will be announced as co-Captains.

These announcements mark a new era for the Hurricanes, filled with anticipation and high expectations for a the upcoming season.

Jump-Start Your Business in 2024 with Synthesis Marketing's Special Offer

Kick off the new year with Synthesis Marketing's exclusive free 1-hour planning session, available to the first five businesses that respond. Gain expert insights in marketing strategy, business development, and digital marketing to elevate your business. Contact them at info@synthesis.co.nz or call 04 528 6214 to seize this opportunity!

Air New Zealand | Chamber Deals

For businesses looking to leverage the vast array of offerings from Air New Zealand, there's good news. Air New Zealand has crafted a specialised Business Services page that outlines the multitude of options and programs available for businesses.

To find out more, click the button below!

Bunnings Trade | PowerPass Member Deal

Unlock a range of discounts and simplify the procurement of a huge range of products across our nationwide store network.
Bunnings Trade has partnered with NZ Chambers of Commerce to offer members access to the PowerPass membership program providing a range of exclusive benefits.

For any questions or queries, please feel free to email us at orgs@bunnings.co.nz.

Rove Rentals | Chamber Member Deal

Located in Wellington Region

From moving house to weekend getaways, Rove has got your transportation needs covered.  They are also van and truck rental specialists.

Ready to rent? Visit our website at www.roverentals.co.nz or give us a call on 04 560 4755 to reserve your vehicle. Experience the ROVE difference for yourself!

ROVE Rentals - Rent What You Need, When You Need It!

HVCC OFFER – 15% off base rental rate, all vehicles

HOW TO REDEEM OFFER – when booking online, use code “HVC15” | when booking via phone or email, please mention this offer and confirm you are a member of the Chamber of Commerce

Brendan Foot Supersite | Chamber Member Deal

Pre-order the Next-Gen Mitsubishi Triton for March Delivery

One of the top three utes in New Zealand, be one of the first to drive away the new Mitsubishi Triton from RSP $38,690 + ORC (GLX 2WD ) or $43,990 + ORC (GLX 4WD). This is the Triton’s first new model in nine years, offering a significant tech upgrade & improvements in driving & off-road performance, comfort, & safety. Pre-order now for March delivery with only $500 deposit & zero Clean Car Fee. Contact their Fleet Specialist, Gary, to see how he can help you with your fleet. Test drive from February. *Ts&Cs apply
 

Embroid Me| Chamber Member Deal

2degrees Business Mobile| Chamber Member Deal

Join us on an eligible business mobile plan and get 2 months free. As a Chamber member you’ll also get 15% off for the life of your plan. 

View Our Member Marketplace:

Get Our App: