But it does nothing to close the widening per capita income gap with Australia, says Alexander in his Budget overview in his weekly economic overview.

However, the ASB’s economic team says the cost cutting allows much swifter return to operating surplus than initially expected, in its succinct overview of the budget.

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Trade Me announces leadership transition

Trade Me CEO Anders Skoe has announced he will step down at the end of September. He will be replaced by Kul Singh Kargil, previously Real Estate Australia Group’s chief commercial and marketing officer.

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