Morning Edition: 23 May 2025

The Morning Edition of News Fix for 23 May 2025, straight from the Newstalk ZB newsroom - bringing you everything you need to know in news, politics, business, entertainment and sport.

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Episode Transcript

Speaker 1 (00:05):
Good morning. I'm never ready, Manu, and this is your
morning news fix for Friday, twenty third of May. In
this update, the budget's been tabled, Parliament's a urgency and
the reaction is coming in thick and fast, but it's
far from over for the government. Nikola Willis told Parliament
this was the No b's budget. Labour's leader Chris Hipkins

(00:26):
picked that up and ran with it, saying the budget
had no bread and shelter for vulnerable New Zealanders, but
the Finance Minister's banking on her Kiwi Saver changes being
a lifeline for the government's books in the not too
distant future, and people have until the end of next
month to get the more than five hundred dollars Kiwi
Save a contribution from the government. From July, the maximum

(00:48):
subsidy will have and anyone earning more than one hundred
and eighty thousand dollars won't be eligible at all. Default
employee and employer contributions will be phased up to four
percent over three years, and sixteen and seventeen year olds
can now access the scheme. PI fun CEO Anna Marie
Lockyer says the staged increases are important it's really important

(01:11):
for employers to plan for and also employees in terms
of their budgeting. A welcome surprise for businesses with the
new investment boost scheme rolled out in the budget. It
will immediately let businesses deduct twenty percent of the cost
of new assets, costing the government one point seven billion
dollars annually. The government estimates more investment in assets will

(01:33):
lift GDP by one percent over the next twenty years.
Deloitte partner Robin Walker says twenty percent as the sweet spot,
a really good trade off between doing enough to incentivize
people but not actually costing so much. To other news,
Donald Trump's massive domestic policy bill has narrowly passed in
the House, a significant win for the US President. A

(01:56):
dozen rebellious Republicans were threatening to tank the bill, but
ultimately Speaker Mike Johnson secure the votes needed for it
to pass by a single vote. The multi trillion dollar
piece of legislation, promising big tax breaks for Americans and
further defense spending to fund deportations, now heads to the Senate.
Auckland is a getting a window into money laundering. Artist

(02:18):
Jack Carden's giving away one hundred original artworks in his exhibition,
which challenges how values manipulated and protected in the art world.
The catch they can't be resold for less than ten
thousand dollars. Carden says the exhibitions and accessible form of
money laundering and mimics how the ultra wealthy inflate assets.

(02:38):
A charter flight to the Bluff Oyster and Food Festival
is a shell out in New Zealand announced a special
package for fans last November, including a return seat on
a charter flight from Auckland along with the ticket to
the festival tomorrow. In Sport, the Dolphins have dampened the
Bulldog's roaring start to the NRL League season, posting a
forty four to eight win amid Torrential race in the

(03:00):
round twelve opener. Former All Blanks captains Sam Kin will
be joined by Irelands Peter o'mary and Connor Murray in
the Barbarian side to play the spring Box in Cape
Town next month. Paris Olympian Kine Follows is missed out
by zero point three two of a second on qualifying
for the two hundred meters backstroke at the World Championships

(03:20):
in Singapore during July and August. I'm Nevaretti, Mardo and
that your latest news fix. We'll be back with the
next update at midday from the news Talk zb news room.