Every New Zealander at the moment is feeling the impact of the price of fuel.

It’s something Finance Minister Nicola Willis has mentioned time and time again.

She’s also made it incredibly clear that this government won’t make the same mistakes as the last – so, any financial assistance must be targeted, and temporary.

That’s why she’s announced extra support for low-to-middle-income families.

From April 7, about 143,000 working families with children will get an extra $50 a week through a boost to the in-work tax credit.

But, what else could the Government do? What about the rest of the population without kids who are also still struggling to make ends meet?

Today on The Front Page, Journalist and publisher of The Kākā, Bernard Hickey is with us to break down how a war about 15,000 kilometres away is affecting New Zealand’s economy, and New Zealanders’ wallets.

Follow The Front Page on iHeartRadio, Apple Podcasts, Spotify or wherever you get your podcasts.

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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The Finance Minister is confident she hasn't jumped the gun with her fuel relief package.

The Government's unveiled a temporary $50 weekly tax credit for about 143 thousand eligible lower-income families with children.

It will continue for a year, or until the price of 91 drops below $3 a litre for four weeks in a row.

Nicola Willis told Mike Hosking she has to prepare for a range of scenarios.

She says the conflict could be prolonged, and the supply chain disruption that's causing prices to rise could continue for some time.

Willis says she’s focusing on securing supply rather than providing support for businesses facing rising fuel prices.

When it comes to helping businesses, the Government is changing fuel rules so importers can bring in fuel refined to Australian standards.

She told Hosking it's essential the transport, manufacturing and agriculture sectors have enough fuel to keep going.

Willis says it would be wrong to artificially push down the price of diesel when —if the worst-case scenario plays out— we could be having to preserve our diesel supply.

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The NZ India Business Momentum report says India is fast becoming a top priority for kiwi businesses. From Mumbai - ANZ's Dhiraj Nim

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Garth Bray joins Ryan to talk business - thanks to Forsyth Barr

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Mo Singh from Craigs Investment Partners bring us the latest on global markets and the impact to oil prices and supply.

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The Reserve Bank Governor says the central bank is closely monitoring fuel prices, but won't rush into reacting.

Anna Breman says the Iran war is likely to lead to higher inflation and lower growth in the short term.

Breman says that's unlikely to make them hike the Official Cash Rate - but things could change if higher fuel prices pressure the economy.

Independent economist Cameron Bagrie says it's important to keep an eye on the 'second-round' effects from the conflict in order to determine future OCR changes.

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Finance Minister Nicola Willis has revealed plans are in place to unveil a package to help households with the cost of fuel.

She says more details will be revealed tomorrow, and she's worked with Inland Revenue and Treasury officials to develop this planned relief.

Willis explained that this plan won't go against the Government's fiscal strategy ahead of the upcoming election.

"We will be funding it from this year's Budget operating allowance...we are going to prioritise our Budget in order to be able to fund this in a temporary, timely and targeted way."

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The Green Party is offering its support to National to fast-track a fossil fuel relief package, bypasssing other parties with their combined 63 votes.

The proposal includes three months of free public transport, a windfall tax on fuel companies, and targeted payments for rural and low-income earners.

The Green Party co-leader Chloe Swarbrick told Kerre Woodham, "we have put a sensible and urgent fossil fuel crisis relief package on the table, and we're really willing and able to work with the National Party to make it happen."

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