April 15, 2021 | Fortnightly | Thursday Vol. 4 | Issue 3 | FREE www.indiannews.co.nz indiannews.nz indiannews_nz indiannewz theindiannews Ph: +64 9 846 8080 New Zealand's most trusted Indian media group, a member of New Zealand Media Council (NZMC) SERVICES - First Home/Investment Property Loans - Refinance/Top up/Business/Commercial Loans JUST ONE PLACE Ravi Mehta Rohit Takyar - Life/Trauma/Medical Insurance M: 021 181 0076 M: 021 172 8962 FOR ALL FINANCIAL SERVICES YOU NEED - TPD/Mortgage/Income Protection Mortgage Brokers Insurance Brokers Accountants Asset Finance Brokers - Business/Commercial Insurance HEAD OFFICE BRANCH OFFICE - Small to Medium Business Tax Returns 35 Morningside Drive, St. Lukes Level 1/203 Great South Road PROFESSIONAL - Rental Property Returns/LTC Setup Mt. 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April 15, 2021 3 New Zealand's most trusted Indian media group | The Indian News NZ NEWS Reserve Bank holds OCR at record low 0.25 percent he Reserve Bank has held the official cash It reaffirmed the $100 billion bond buying Trate (OCR) at a record low 0.25 percent, programme, which aims to keep interest rates as expected, and reaffirmed easy monetary low, and the funding for lending programme policies to support the economy through the (FLP) which offers low-interest finance to pandemic. banks for on-lending to businesses and It said the economy slowed over summer households. but had continued to improve, and still faced However, it said stronger inflation pressures an uncertain and uneven outlook. that have been recorded in business surveys "Economic uncertainty remains elevated were being driven in part by temporary factors and divergences in economic growth both such as supply chain disruptions and higher oil within and between countries are significant," prices, which they would discount. the Monetary Policy Committee (MPC) said in As part of its new instructions from the a statement. government, the MPC said it had looked at the "Short-term data continues to be highly effect of its policies on the housing market, variable as a result of the economic impacts of and accepted they were a factor driving house Covid-19. " prices higher. It said the central bank was still short of "Other factors are also influencing house reaching its targets of sustainable employment prices including: the impact of low global and inflation around 2 percent. interest rates on all asset prices, constrained housing supply and infrastructure, land use regulations, tax policies and the PRINCE PHILIP broader recovery in aggregate demand." It repeated the RBNZ's long-held 1921- 2021 view that monetary policy is targeted at inflation and employment. Funeral preparations are under way for Prince Philip, Queen Financial markets were little moved Elizabeth II's husband, who died on 9th April, Friday aged 99. by the statement. "We continue to expect the RBNZ will The ceremonial royal funeral will be held at St George's Chapel, in remain on hold until August 2022, with the grounds of Windsor Castle, at 15:00 BST on Saturday, 17 April. the balance of probabilities tilted to a later start than that."-RNZ Photo/ Getty Images Don’t dream it’s paid off - Live it now Mortgage Genius Plan designed to get you where you want to be financially! Home Loans Business Loans Commercial Loans Insurance Allow you to pay off your mortgage quicker without increasing loan instalment Build wealth faster Enable you to free up cash to purchase additional properties Disclosure Statement available free of cost Airport Oaks 09 255 5500 Manukau 09 263 5555 Henderson 09 836 5555 Tauranga 07 577 0011 www.indiannews.co.nz | indiannews.nz indiannews_nz indiannewz 4 April 15, 2021 NZ POLITICS David Seymour’s free speech Boosting small businesses tour mall businesses are not only the heart protected more than 1.8 million jobs, of our economy – they’re also the while the Resurgence Support Payment The world is currently facing greater S heart of our communities. They provide has helped businesses absorb one-off challenges than it has in decades, with “ important goods and services, as well as costs or cashflow troubles following alert a pandemic, a decline in democracy and great employment opportunities. They level changes. In just six weeks, close to geopolitical tensions on the rise. More know and love their locals. And after a 80,000 applications have been received for than ever, we need to unite New Zealand tough year, they need our support! resurgence support, and more than $195 behind good ideas, and that takes honest Friday, 9 April, is the first national Small million has already paid out. conversations about the challenges we Business Day. It’s an opportunity to show Interest-free loans, meanwhile, have face,” says ACT Leader David Seymour. your local spots some love. Is the lolly helped more than 100,000 small and “This is the worst possible time for the cake at the café on the corner a real treat? medium enterprises stay afloat, providing New Zealand Government to crack down Love having a chat to your neighbourhood more than $1.6 billion in funding so far. on free speech, but that’s exactly what its greengrocer? Perhaps there’s a nearby craft The vast majority of these loans have gone proposed hate speech laws would do. and will therefore stifle debate and breed brewery you’ve been meaning to check out, to firms with 10 or fewer staff. Businesses “With the public largely distracted by resentment. “This is obvious from the or a tailor who could stitch your favourite across the country and a wide range of COVID the Labour Government intends subjective nature of what Justice Minister jeans back into shape. sectors have benefitted, and many are changing free speech laws in a way Kris Faafoi and the Human Rights The past year has been challenging already repaying their loans because that has the potential to create terrible Commission say the new law will do. for all of us, including for the owners of our better-than-expected economic division and resentment in New Zealand “The Minister says it will criminalise and employees of the small businesses conditions. for decades to come, and ACT intends to speech that is ‘abusive, threatening and that keep Aotearoa running. There are These Government initiatives – stop it. incites hostility,’ while the commission around 530,000 of these businesses in New alongside business tax measures and “From this evening in Lower Hutt I’m says it will prohibit speech that is Zealand, representing 97% of all firms and targeted support for Māori enterprise – embarking on a tour of 13 centres across ‘threatening, abusive or insulting.’ over a quarter of the country’s GDP. have kept small businesses going and given the country to rally public support to “Where would the line be drawn? Our Government is committed to them momentum. But there’s more work maintain New Zealand’s traditions of free Citizens would be subject to ever- supporting Kiwi businesses and their to do and we’re committed to continuing speech. changing interpretations of what workers, so together we can continue to support Kiwi businesses, as together we “The Government is cynically constitutes this redefined criminal act. our strong economic recovery. Small move forward with our recovery. using the tragedy of 15 March 2019 in “The decision to prosecute will become businesses are at the centre of our COVID On Small Business Day, we’re Christchurch as a vehicle for pushing selective and arbitrary. People will not recovery plan. By helping them to rebuild encouraging everyone around New these changes through, with a Bill know they’ve committed a crime until and thrive, we support our communities Zealand to get out and support their that would change the incitement they’ve been convicted. and whānau, too. favourite local businesses. -LabourVoices provisions in the Human Rights Act to be “Democracy and the ability to have We’ve worked hard introduced to Parliament this year. civil and honest conversations is already to cushion the impact “I’m passionate about helping becoming imperilled, which is why this of COVID-related New Zealanders understand that the is the worst possible time to empower disruptions on these problem with hate speech laws is they’re lynch mobs who choose to take offence at businesses, with inconsistent with the principles of the ideas they don’t support. programmes like the rule of law and due process. “What “I am the first person to say we Wage Subsidy Scheme, constitutes hate speech is a matter of could all do better at being respectful the Resurgence Support subjective political opinion.