John Key, the Prime Minister and Tourism Minister of New Zealand, will soon announce an increase in funding for small tourism centres that attract large number of visitors.

The Prime Minister of New Zealand, John Key has said that the government is planning to introduce a land tax on offshore owners of homes in the country.

In a joint announcement, earlier this week, Prime Minister John Key and the international film director James Cameron established that the next three Avatar movies will be filmed in New Zealand, and the production would qualify for a tax rebate of 25 percent.

Earthquake Recovery Minister Gerry Brownlee says, by this time next year, the change to Christchurch's central city will be hard to believe.

Today Prime Minister John Key, Brownlee and Health Minister Tony Ryall attended the launch of the metro sport facility with Roger Sutton, Canterbury Earthquake Recovery Authority chief executive, Warwick Isaacs, Christchurch Central Development Unit director and city councillors.

The New Zealand government's plan to upgrade the country's predominantly slow Internet service is facing some difficulty after accountants established the fact that the main contractor has come across some financial problems.

However, Prime Minister John Key said that the schedule for the ultra-fast broadband rollout will not be changed, despite a report saying Chorus is not delivering on its contracts.

This year in October, The Reserve Bank introduced new rules to control riskier loans to just 10% of new lending to protect the financial system in case of a blow to the economy.

The central bank said there has been considerable fall in mortgage lending to those with small deposits, but it is still too early to know whether it has deliberated an overvalued housing market.