Experts give an economic update
Free event will focus on cost of living and social wellbeing for Kā piti residents, firms
Kāpiti Coast District Council are hosting Infometrics’ chief executive and principal economist Brad Olsen for a free post-Budget Kā piti Economic Update at Southward Car Museum tomorrow from 5pm.
Mayor Janet Holborow said an economy designed for the wellbeing of people and place is the focus of the event.
“The cost of living, high interest rates, inflation, and affordable housing are just some of the many factors that determine our overall economic and social wellbeing.
“Ensuring people can make a living in our district is one of council’s top priorities.
“The timing of the Kā piti Economic Update event allows for post-Budget discussions and an opportunity to understand how Budget announcements may improve or impact our district’s economy.
“The event will be an informative session for the business community and those interested in the district’s economic wellbeing.
“Brad Olsen is one of New Zealand’s leading economic commentators, so we’re fortunate to have him.”
Infometrics chief executive and principal economist and Kāpiti Economic Update’s keynote speaker Brad Olsen said the 2023 Budget has provided more funding to support community outcomes but, like household budgets, money is tight and there’s a careful balance to be struck between doing enough to invest in the future but not doing too much to stoke inflation.
“The Kāpiti Coast economy remains resilient and a small boost from
tourism has helped the local economy weather economic headwinds so far.
“Infometrics provisional estimates show that the Kāpiti Coast economy grew 2.7 per cent over the year to
March 2023, ahead of 1.9 per cent growth across the Wellington Region and just a touch behind national growth of 2.9 per cent.
“However, rising interest rates will see the economic mood sour in 2023, with weakening consumer spending and a cooling housing market indicating that Kāpiti won’t be immune from these headwinds.”
Following Brad’s discussion on the district’s growing economy and future indicators, he will be joined by Gareth Hughes of the Wellbeing Economy Alliance, Kāpiti Coast District Councillor Sophie Handford, and Kāpiti Economic Development Kotahitanga Board member Russell Spratt for a discussion on the wellbeing economy and how it fits into the future of New Zealand.
There will be light refreshments before and after the formalities to allow the audience to network with the speakers and fellow attendees.
The Kāpiti Economic Update is a free event, however spaces are limited.