Bay business breakfasters to get expert financial view

Financial commentator Bernard Hickey will talk on Hawke's Bay's weathering of macro-economic events at Napier City Council's Business Breakfast on September 11. Photo / File

The effect of the low dairy payout and falling New Zealand dollar on Hawke's Bay will be raised by top financial commentator Bernard Hickey at Napier City Council's quarterly Business Breakfast next month.

A regular commentator on television and radio, Mr Hickey is based in the Parliamentary Press Gallery in Wellington and publishes his own daily economic and political news email.

A financial journalist for 20 years, he has worked for Reuters, the FT Group and Fairfax Media in Wellington, Canberra, Sydney, London, Singapore and Auckland.

He was the managing editor of interest.co.nz from 2008 to 2012 and remains a contributor.

He will deliver his view of the national and regional economic outlook, including the latest on local economies, interest rates, house prices and Reserve Bank action.

A recent article of his was on the fall of the New Zealand dollar.

"The irony for cow cockies is that just down the road in the orchards and the shearing sheds, it feels as if it's boom time, or at least time for a quiet few celebratory beers after a long dry spell," he said.

Another recent article points out the hypocrisy of people criticising Auckland Council borrowing for inter-generational assets at favourable terms while they themselves are borrowing for housing. Central government was criticised for its reluctance to invest now for future generations through borrowing.

"The inter-generation scandal of the Government's decision to stop contributions to the New Zealand Superannuation Fund is a case in point," he said.

"It won't borrow at 3.3 per cent to contribute to a fund earning 10.3 per cent in its first 12 years, and then it has the gall to collect over NZ$4.7 billion of tax from the fund.

"Both Aucklanders and the Government should drop the two-faced approach to debt and invest in growth for future generations," he said.

The September 11 breakfast is open to the wider business community. Bookings for the Napier War Memorial Conference Centre event, in Napier's Marine Parade, can be made at napier.govt.nz/napier/whats-on/business-breakfast.