National
GDP expected to grow by 5%
Friday 8 June 2012 | Published in National
Gross domestic product (GDP) is expected to grow 5 percent this year, driven primarily by a projected increase in tourist numbers. The economy grew moderately in 2009/2010 after contracting in 2008/2009, but the Ministry of Finance and Economic Management (MFEM) expects higher growth going forward. Nominal growth, which does not take into account the effect […]
Trade deficit
Friday 8 June 2012 | Published in National
Imports continue to exceed exports, resulting in a negative trade balance of $103.7 million. The Budget reveals that about 58 cents is leaking out of the economy for every $1 spent in the Cook Islands, primarily because of the country’s heavy reliance on imports to meet local demand. Last year imports cost the country $105.7 […]
Deposits increase despite new tax
Friday 8 June 2012 | Published in National
There was no major outflow of capital after the government announced its intention to enact a withholding tax. Overall deposits have in fact increased from $186 million in December last year to $192 – an increase of 3.2 percent. ”There was a lot of concern that we would see hordes of people moving money out […]
Revenue and savings up
Friday 8 June 2012 | Published in National
Both revenue and savings are up from last year. Total revenue has increased by 3 percent, meaning that currently government is collecting around $158.2 million (including aid). Taxation comprises 58 percent of revenue, grants from other governments make up 30 percent and the remainder is from sources such as sales of goods and services, dividends, […]
Expenditure up 2% to $131.5m
Friday 8 June 2012 | Published in National
Expenditure is expected to increase by 2 percent to $131.5 million this financial year. The bulk of the increase is the result of government’s commitment to underwrite Air New Zealand flights – a cost of $12.5 million and $13.6 million for this year and next, respectively, which exceeds projected forecasts of $8 million and $10 […]
$3m more from taxation increase
Friday 8 June 2012 | Published in National
Taxation has increased by an estimated 3.4 percent – increasing government’s revenue by $3 million this financial year. From direct taxation government is estimated to be collecting $38.7 million. The increase is being driven primarily by the withholding tax, the full effects of which become palpable during this financial year. Taxes are expected to increase […]
New openness with Budget
Thursday 7 June 2012 | Published in National
Media are attending a ‘budget lockup’ this morning at the Ministry of Finance and Economic Management. Ahead of Minister of Finance Mark Brown’s Budget speech, scheduled for 1pm in Parliament House, media will have a chance to pore over the details of all three budget books. Officials will be on hand to answer questions from […]
New Budget has a surplus balance
Thursday 7 June 2012 | Published in National
The 2012-13 Budget will be a milestone in the reporting of the country’s finances. For the first time, the Budget will be presented in the Government Financial Statistics (GFS) format which is a standard approach to the presentation of public finances by many governments, including those of Australia and New Zealand. In announcing the change […]
Tereora students working hard
Thursday 7 June 2012 | Published in National
Queen’s Birthday weekend was not a holiday for all on the island. Year 11 commerce students at Tereora College, and their teacher Jerry Spooner, gave away their day of relaxing to instead focus on some revision. Spooner, accounting teacher at the school, said the aim of the day was to cover certain topics that the […]
Policeman charged
Thursday 7 June 2012 | Published in Crime
A policeman will appear in court today on charges of careless driving following a crash on Saturday morning involving a police vehicle and a parked car. Police report that at 4.23am on Saturday, a mobile police patrol carrying three officers collided with an unoccupied parked vehicle on the main road at Kavera. Both vehicles were […]
'Choice is in your hands'
Thursday 7 June 2012 | Published in Crime
Justice of the Peace Carmen Temata presided over the following cases in the High Court last Thursday: Travel Engu – faced a charge of breach of community service. Engu had failed to report to community services on three occasions and failed to offer an excuse. It was his fourth appearance for breach of community service […]
Turtle research reinforcements
Thursday 7 June 2012 | Published in Environment
Fresh off of their Palmerston sea turtle research expedition, the Cook Islands Turtle Project (CITP) – a project of Pacific Islands Conservation Initiative (PICI) – is excited to welcome two new volunteers to the team. Phil and Nerissa Bradshaw have come on board to run sea turtle research for the southern group – and they’ve […]
Use reusable bags!
Thursday 7 June 2012 | Published in Environment
In the spirit of National Environment Week, the National Environment Service (NES) is encouraging people to tote their groceries in reusable bags. Two shop owners have been obliging and on board with NES’ efforts to phase out plastic bags for months now, and in return have received 100 reusable bags apiece to sell to customers. […]
Fizzy drinks, alcohol going up
Thursday 7 June 2012 | Published in Local
Government is increasing levies on sweetened drinks and alcohol. The forthcoming Budget, due to be tabled this afternoon in Parliament, reflects a 15 percent increase on sweetened drinks and alcoholic drinks, though levies on low-alcohol beers will rise by just 5 percent. Such increases will be effectual from August 1. Minister of Finance Mark Brown […]
Drumming up ticket sales for Miss Cook Islands
Thursday 7 June 2012 | Published in Local
Miss Cook Islands tickets for tonight’s pageant were selling fast yesterday thanks to the beautiful Maine Tapairu Joyana Meyer, Pai Chambers and Maine Kuki Airani Engara Gosselin. If you missed out on buying tickets from the lovely ladies yesterday – they are still for sale at the Tatslotto shop in Avarua and at the Pearl […]
Nassau fundraiser
Thursday 7 June 2012 | Published in National
The northern group island of Nassau is set to have its first Cook Islands Christian Church ministers in many years when minister-in-training Casey Poila and wife Piva head to the island in mid June. To help cover the cost of relocating to the tiny island – the couple and their Takamoa Theological College family will […]
New scam for Cooks
Thursday 7 June 2012 | Published in National
Businesses beware – there is a new credit card scam out to defraud you. Westpac Cook Islands is warning its customers of a new scam that has been seen around the Pacific, New Zealand and Australia in the past few years. The scam involves an email being sent to businesses, primarily in the hospitality and […]
Big day on the River Thames
Thursday 7 June 2012 | Published in National
Avarua Harbour Sea Scout Jason Potoru rowed with a Kiwi youth crew down the Thames River in London as part of the Queen’s Diamond Jubilee Pageant. Deep Sea Scout leader Ron Bird reports from London. Sunday (June 3) dawned overcast but fine as the New Zealand youth crew, which included Avarua Harbour Sea Scout Jason […]
Current cold snap not the last
Thursday 7 June 2012 | Published in National
The Cook Islands Meteorological Service has recorded a low of 16°C on two mornings this week. On Saturday and yesterday, the office recorded 16°C – bringing the average temperature for the last two weeks to between 19 and 24°C. The lowest June temperature on record in the last five years is 15.5°C, which was documented […]
New customs legislation ready
Thursday 7 June 2012 | Published in National
New customs legislation will be tabled in parliament next week. Following is a background explanation provided by Finance Minister Mark Brown: The Cook Islands customs legislation is 99 years old. Back before World War I, there were no such things as cell phones, commercial airlines, the internet, and all the other modern technology available today. […]
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