More
cuts tipped in discretionary spending
A quarterly consumer credit expectations survey by the agency has found half of respondents are worried about their current financial situation.
1
August, 2012
Dun
& Bradstreet's data shows people plan to spend less because of
ongoing economic uncertainty both here and in the Eurozone.
New
Zealand general manager John Scott says 66% of people say they are
less likely to buy non-essential items.
Respondents
say they are less likely to buy non-essential items which until now
have resisted recessionary pressures, such as beauty treatments and
new mobile phone contracts.
The
survey indicates that families are increasingly vulnerable.
It
says 56% of those with children are concerned about their current
financial situation, 7% above the national average and 13% above the
figure for couples with no children.
At
the same time, more than a third of families surveyed think they'll
have difficulties meeting their credit commitments, as compared to
24% of childless couples.
Provincial rugby revenues falling
A financial review of the 14 ITM Cup rugby unions suggests falling revenues are threatening the future of the game.
1
August, 2012
The
review, carried out by Deloitte, shows their collective revenues have
dropped nearly 20% over the last five years.
The
review says a total loss of $16 million since 2007 is largely due to
a reduction in match-related revenue, such as gate takings and
hospitality.
New
Zealand Rugby Union chief executive Steve Tew says that is no
surprise and unions are adjusting their behaviour accordingly.
Deloitte
partner Grant Jarrold of Christchurch says the falling revenues are
threatening the game's future.
He
says if the unions cannot survive, then the development of rugby at
the grass roots will struggle.
The
Rugby Players Association says a business approach is needed to turn
around the fortunes of the provincial sides.
Chief
executive Rob Nichol told Morning Report that teams need to get
people back through the turnstiles, as revenues were hit last year by
fans saving money for World Cup tickets.
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