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Author: Admin | 2025-04-28
Kennedy observed."The deterioration in the fiscal position means the government now has fewer levers to pull to stabilise growth and places more of the burden on monetary policy."Those passages in Michael's piece about the forecast deterioration in New Zealand's deficits bring to mind something interesting.When Tony Abbott won the 2013 federal election in Australia, he told voters: "You can't fix the economy unless you fix the budget."But in 2020, Coalition treasurer Josh Frydenberg told voters: "You can't fix the budget until you fix the economy."Which one applies to New Zealand right now? Which one applies to Australia?Key Event19 Dec, 3:48amThu 19 Dec 2024 at 3:48amANZ chief executive to forgo multi-million-dollar bonusIn ANZ's annual general meeting today, nearly 40% of the bank's shareholders voted against its executive pay scheme, which is much higher than the 25% required to defeat the resolution.And almost 50% voted against a resolution about the long-term pay package of the bank's chief executive Shayne Elliot.In response, ANZ chairman Paul O'Sullivan said that strong investor reaction had been noted."We received majority support from shareholders to grant our CEO his long-term variable remuneration, however a substantial proportion of shareholders voted against the resolution," Mr O'Sullivan said."In recognition of shareholder views, to limit the impact on the Bank and to allow it to move forward, Shayne has decided to forfeit this year's long-term variable remuneration."You can see the votes in the table below:Here's how Reuters reported on the AGM:The CEO of Australia's No. 4 bank ANZ gave up a long-term
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