Budget changes, Marsden Point and Ikea – The Front Page

From empty lots to massive store openings, we unpack 2025's biggest stories in business. Photo / Corey Fleming

From empty lots to massive store openings, tariff panic to budget belt-tightening.

This week, The Front Page has revisited some of the year’s biggest stories in business.

Here’s what we found out.

Unpacking Budget 2025

In May, the coalition Government unveiled its second Budget.

Over $20 billion in savings had been found over the next four years, more than half from controversial changes to our pay equity scheme.

There were changes to KiwiSaver contributions, means-testing for support for parents and a major new tax incentive for businesses.

Finance Minister Nicola Willis said that it was a “responsible Budget”, while Labour called it an “austerity Budget” that leaves women out and is stealing from our kids.

Herald business editor-at-large Liam Dann joined The Front Page to break down what all of this actually means for Kiwis’ wallets.

Is Auckland dying?

In August, NZ Herald property editor Anne Gibson asked: “Is Auckland dying?”

Auckland is home to roughly a third of the entire country’s population and is predicted to grow even bigger in the coming years.

The City of Sails is, by far, the largest contributor to New Zealand’s economic output, generating about 40% of gross domestic product, or GDP.

But walk down many of the inner-city streets and you’ll see vacant lots – with a lot of potential.

The Front Page discussed what can be done to get developers moving on empty spaces – some of which have been desolate for decades.

Marsden Point’s potential

Marsden Point operated as New Zealand’s only oil refinery for nearly 60 years.

At its peak in the 80s, it employed about 1700 people. When it was closed in 2022, nearly 240 people lost their jobs.

Run by Channel Infrastructure, the site now operates as New Zealand’s largest fuel import terminal, storing and distributing 40% of the country’s fuel.

This year, a slew of ministers visited the site, with NZ First in particular floating the idea of introducing our first Special Economic Zone to help pump investment into the site, and life into the Northland economy.

Massey University professor emeritus of sustainable energy and climate mitigation Ralph Sims joined The Front Page to discuss the site’s potential.

Channel Infrastructure CEO Rob Buchanan took us through the future of Marsden Point.

Is the Grinch stealing Christmas?

“What if Christmas”, he thought, “doesn’t come from a store?”

The Grinch mused as he transformed from being bitter and isolated to realising that the celebration is about community and relationships, rather than material things.

So it does seem a little ironic that his face now adorns scores of matching pyjama sets and baubles.

While St Nick once held the title of the most Christmassy Christmas character, in recent years, a battle between red and green has spawned.

SAE Creative Media Institute academic dean Dr Lorna Piatti-Farnell joined The Front Page ahead of the silly season to talk about the Grinch takeover.

Costco ... then Ikea... then?

Upon the announcement of the official opening date for Auckland’s Ikea store in September, The Front Page asked: What next?

The new Sylvia Park site in Auckland is one of the company’s largest in the Southern Hemisphere – about the size of three rugby fields.

So why do we get so excited about international brands setting up on our shores? And is there enough appetite for Ikea to succeed where others haven’t?

Quantum Jump CEO and marketing expert Ben Goodale joined us to explain the hype around one of the world’s leading retailers coming to our shores.

On location at Ikea

It was the moment anyone looking for a conveniently packaged, Swedish-designed kitchen cabinet was waiting for.

We brought Quantum Jump CEO and marketing expert Ben Goodale along with us to get a sneak peek at the new store and spoke to Ikea’s country communication manager about the specifics of how the team chose to market Ikea to Kiwis.

We also made NZ Herald business reporter Tom Raynell participate in a flatpack challenge.

The Front Page is a daily news podcast from the New Zealand Herald, available to listen to every weekday from 5am. The podcast is presented by Chelsea Daniels, an Auckland-based journalist with a background in world news and crime/justice reporting who joined NZME in 2016.

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