The Government's announced a $1.2 billion gas transition loan scheme – a big bet on keeping some of New Zealand’s most gas hungry businesses afloat.

Finance Minister Nicola Willis says the government will guarantee 80% of each loan, with about $48 million set aside to cover potential losses.

It’s being framed as a lifeline: help gas‑heavy manufacturers and processors stay open, protect jobs, and ease pressure on a shrinking and increasingly expensive fuel.

But behind the headlines, big questions remain.

Who really benefits, who foots the bill, and will any of this cost creep its way into your power bill or tax bill?

Today on The Front Page, journalist and publisher of The Kākā, Bernard Hickey is with us to unpack whether this scheme is an economic rescue mission, a political pivot, or something more complicated.

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You can read more about this and other stories in the New Zealand Herald, online at nzherald.co.nz, or tune in to news bulletins across the NZME network.

Host: Chelsea Daniels
Editor/Producer: Richard Martin
Producer: Jane Yee

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Thursday's Budget is being illed as 'grown-up' with no lolly scrambles under a cloud of tough choices ahead. But with rising mortgage costs and stubborn inflation, will the Government deliver something people can actually feel in their wallets? Liam Dann and Tamsyn Parker unpack what’s been revealed ahead of Budget day and what might still be hiding in the numbers.

Plus, are mortgage holders already trapped by rising rates, and is AI becoming a convenient excuse for job cuts?

The Economy of Everything is brought to you by NZ Herald in partnership with CMC Markets.

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ConsumerNZ's Jon Duffy tells Herald NOW Business why Kiwis feel better about KiwiSaver even as many are dipping into savings.

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Rural lending specialist Rabobank expects the 2026-27 dairy season to be another strong one for farmgate milk prices, but says rising inflation will take its toll.

After a string of strong Global Dairy Trade (GDT) auctions, Rabobank expects a robust opening milk price from dairy co-op Fonterra of $9.50 to $10.00 per kg of milksolids for the 2026-27 season.

However, the bank said the inflationary impacts of geopolitical disruption were likely to squeeze farmer margins in the new season.

The Country's Jamie Mackay explained further.

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An economist believes the Reserve Bank should raise the Official Cash Rate today to control inflation.

The bank will release its first Monetary Policy Statement since war broke out in the Middle East, with most expecting it to hold at 2.25% and not rise until September.

But Westpac Chief Economist Kelly Eckhold told Mike Hosking inflation was already at 3.1% before the war, and we'll likely spend time above 4% this year.

He says six years of this decade will have seen inflation over 3%.

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Paul Spain from Gorilla Technology on the $24 billion hi-tech industry.

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Business NZ says a new loan scheme to help businesses ditch gas is a necessary step.

This year's Budget funds up to $1.2 billion in guaranteed bank loans to help businesses transition to renewables.

Potential losses are accounted for with $48 million set aside.

Business NZ Advocacy Director Catherine Beard told Ryan Bridge it's still a loan business will need to pay back, but it will help.

She says the barrier for businesses trying to move away from gas is often capital expenditure, so they're in favour of lowering that hurdle.

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Conferences on our shores are driving up international delegation numbers, which have surged more than 50% annually.

According to Stats NZ, arrivals are near pre-Covid levels, with more than 16 thousand people coming in the first quarter.

International delegates contributed more than $54 million to the economy, with visitors spending an average $500 per day.

Business Canterbury CEO Leeann Watson told Ryan Bridge with last week's Air New Zealand expansion in Christchurch, there are more options.

She says having direct flights between Christchurch and Singapore, Perth and Tokyo, will make a big difference.

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