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May 22, 2012
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More New Zealanders support than oppose a capital gains tax, a policy which is dividing the country by income, occupation—
and unsurprisingly, property ownership. The first nationwide poll conducted since Labour’s policy announcement
finds 40.9 percent support the party’s capital gains tax proposal with
34.1 percent in opposition. While homeowners were almost evenly split on the idea, more than 60 percent of farm owners and business managers/executives opposed it. The self-employed weren’t fans either, with nearly half indicating their disapproval.
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Despite commodity prices taking a dip, farmers are more confident now than they were at the beginning of the year: a new survey shows a bright outlook for farm productivity and profitability for the 12 months ahead. Taken at the beginning of the 2011/12 season, the latest Federated Farmers Farm Confidence Survey shows a net 50.4 percent of farmers expect to increase production over the coming 12 months. Optimism about profitability was also up for all industry groups, although the increase for dairy farmers was smaller than for meat, grain and fibre farmers.
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The Financial Markets Authority has added to its leadership team,
appointing three new staff to support chief executive Sean Hughes. Established in May, the FMA consolidated the functions of the now-defunct Securities Commission and
Government Actuary, as well as other functions of the Ministry of Economic Development. Hughes says the appointees bring a wealth of expertise which the FMA will draw on
as it develops its role further.
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Long live the Kiwi wine industry, and
the craft beer sector is booming, but right
now, spirits are rising.
From limoncello to gin to stuff you’ve
never heard of, a barful of spirits from all
around the country have launched in recent
years. And they’re not half bad: most of
them have nabbed prizes at international
competitions and are making inroads into
international export.
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The majority of shareholders in Charlie’s Group have moved to accept
Japanese drink giant Asahi’s takeover bid of 44 cents a share. In a letter to shareholders accompanying the offer document sent on
July 21, the Charlie’s board unanimously recommended they accept the
proposal for all of their shares. Chairman Ted van Arkel says the cash offer is at the top end of
advisory firm Grant Samuel’s valuation range, and is among the key figures who has submitted his approval to date.
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