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Finance Minister Nicola Willis said today New Zealand and Australia had agreed officials would continue to engage regularly on the fuel crisis. Willis, who met Australian Treasurer Jim Chalmers in Brisbane today, said it would include looking at fuel market conditions, supply chain developments, price pressures and financial system resilience. There would also be ongoing coordination between the two countries to ensure markets, banks and relevant agencies were well prepared for geopolitical and economic shocks. “New Zealand and Australia are working closely together to manage the impacts of global events on our economies and on household budgets,” Willis said. That meant policies that were timely, temporary and targeted, rather than ones which would add to inflation and create long-term fiscal costs, she said. Willis said the meeting with Chalmers also focused on lifting growth and productivity through closer economic integration.
