Plant-based bubble bursts
OPINION: Talking about plant-based food: “Chicken-free chicken” start-up Sunfed has had its valuation slashed to zero by major investor Blackbird Ventures, and its products are no longer available in supermarkets.
But coming changes in the rules create a conundrum for employers, like dairy farmers, who are already struggling to find good staff. New Zealanders living in Aus will soon have access to Australian citizenship and its benefits, after four years - a major change to immigration rules that adds to the long list of benefits of moving to Aus.
In the last five or so ears, the median wage gap has gone from Australians earning $17,400 more to $23,400 more. The cost of living in Australia is lower, interest rates are 1.5-2% lower. Housing is cheaper. They can't play rugby, but a young emigrant could probably overlook that.
Westpac predicts that, while inflation in NZ will come down later this year, wage inflation will buck the positive trend and remain high due to high employment and a tight labour market. Best of luck to those youngsters who jump the ditch. The rest of us need to think about how we make NZ a place with better prospects for them to stay.
