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The economy posted solid growth in the September quarter, despite considerable global uncertainty, Finance Minister Bill English says.
Statistics New Zealand today confirmed gross domestic product (GDP) grew by 0.8 per cent in the September quarter. The economy has grown in nine out of the past 10 quarters. GDP grew by 1.9 per cent over the last year.
- Bill English
- Finance
IAG's agreement to purchase AMI Insurance, announced today, will strengthen the Canterbury insurance market and reduce the Crown's liability, Finance Minister Bill English says.
As part of the deal, the Crown will take over ownership of AMI Insurance’s Canterbury earthquake related claims.
"The part of AMI dealing with earthquake claims – along with its reinsurance for those events - will be retained as a new Crown company and will continue to manage AMI's customers' earthquake claims," Mr English says.
- Bill English
- Finance
The Government has confirmed the next steps in its mixed ownership programme to offer New Zealanders minority shareholdings in four state-owned energy companies and Air New Zealand.
Cabinet has agreed that Mighty River Power should be the first company prepared for an initial public offering (IPO), most likely in the third quarter of 2012, subject to market conditions, Finance Minister Bill English and State Owned Enterprises Minister Tony Ryall said today.
- Tony Ryall
- Bill English
- State Owned Enterprises
- Finance