Welcome to the year of growth, as pointed out by the Prime Minister Christopher Luxon yesterday, and that economic growth and the economic recovery of New Zealand has been placed firmly into Nicola Willis's lap. Nicola the Finance minister. She is now though also the new Minister for Economic Growth in addition to being Finance. Chris Luxon says twenty twenty five is all about going for growth, and Nichola is the one to do it, and Nikola joins, who Now, Congratulations Nicola and happy new Year.

Welcome to the year of growth, as pointed out by the Prime Minister Christopher Luxon yesterday, and that economic growth and the economic recovery of New Zealand has been placed firmly into Nicola Willis's lap. Nicola the Finance minister. She is now though also the new Minister for Economic Growth in addition to being Finance. Chris Luxon says twenty twenty five is all about going for growth, and Nichola is the one to do it, and Nikola joins, who Now, Congratulations Nicola and happy new Year.

Thanks Andrew, Happy new year to you too. And this is going to be the year in which we drive growth to the New Zealand economy forward. That is the way we can afford all of the things New Zealanders deserve now, job, veter incomes, investment in our public services.

Thanks Andrew, Happy new year to you too. And this is going to be the year in which we drive growth to the New Zealand economy forward. That is the way we can afford all of the things New Zealanders deserve now, job, veter incomes, investment in our public services.

Let's talk about this new portfolio. So economic development now becomes economic growth and it goes from Melissa Lee's hands to yours. Why wasn't in your hands right from the get go?

Let's talk about this new portfolio. So economic development now becomes economic growth and it goes from Melissa Lee's hands to yours. Why wasn't in your hands right from the get go?

Well, traditionally these two portfolios finance are and what has been previously called economic development haven't been held by the same minister. What the PMS identified is given how important growth is to our agenda. He wants me driving that across government. So in this portfolio, I will lead the Ministry for Business, Innovation and Employment. Yes, and through that role, I will be making sure that we're responding to businesses, industries, small business owners about what they need to have the confidence to be investing, to be hiring, to be innovating. And there are a lot of things we can do to reform New Zealand to remove the barriers to all of those. Talk about that now progressing a big agenda, but there's more to do.

Well, traditionally these two portfolios finance are and what has been previously called economic development haven't been held by the same minister. What the PMS identified is given how important growth is to our agenda. He wants me driving that across government. So in this portfolio, I will lead the Ministry for Business, Innovation and Employment. Yes, and through that role, I will be making sure that we're responding to businesses, industries, small business owners about what they need to have the confidence to be investing, to be hiring, to be innovating. And there are a lot of things we can do to reform New Zealand to remove the barriers to all of those. Talk about that now progressing a big agenda, but there's more to do.

We'll talk about that. But MB was created by Stephen Joyce who was the Minister of Finance as well, and it is a big unit full of a lot of big brains who work on economic development in many cases, and you are starting to use their forecast as well as Treasury more and more and again I come back to the question it just beggars belief that the two were separated in the first place.

We'll talk about that. But MB was created by Stephen Joyce who was the Minister of Finance as well, and it is a big unit full of a lot of big brains who work on economic development in many cases, and you are starting to use their forecast as well as Treasury more and more and again I come back to the question it just beggars belief that the two were separated in the first place.

Well, look, MB does things that are very specific to particular sectors. So they're looking at the whole immigration area, they look at the science and innovation area, regulation, employment law, so it's a broad span whereas Treasury's focus is more on the big picture of what are we doing to manage the books, ensure that inflation and interest rates are in the right place, and those questions of where we allocate funding and the budget and across our various public services. So they are distinct roles. There are a huge scope for MB The point for me is, let's make sure we're prioritizing that work properly. We're doing the things that will really shift the dial, and we're doing them at pace, and we're being responsive to the people who will actually create growth, which in the end won't be a government minister, and it'll be every entrepreneur who decides to invest in that next step. It all we every exporter who says let's take on a new market. It'll be every manufacturer who says, let's buy that next piece of machinery. Where both comes from.

Well, look, MB does things that are very specific to particular sectors. So they're looking at the whole immigration area, they look at the science and innovation area, regulation, employment law, so it's a broad span whereas Treasury's focus is more on the big picture of what are we doing to manage the books, ensure that inflation and interest rates are in the right place, and those questions of where we allocate funding and the budget and across our various public services. So they are distinct roles. There are a huge scope for MB The point for me is, let's make sure we're prioritizing that work properly. We're doing the things that will really shift the dial, and we're doing them at pace, and we're being responsive to the people who will actually create growth, which in the end won't be a government minister, and it'll be every entrepreneur who decides to invest in that next step. It all we every exporter who says let's take on a new market. It'll be every manufacturer who says, let's buy that next piece of machinery. Where both comes from.

I understand that all let's talk about growth and let's talk about productivity. Because Roger Partridge from the New Zealand Initiative, but an article in the Herald last week. Did you read it?

I understand that all let's talk about growth and let's talk about productivity. Because Roger Partridge from the New Zealand Initiative, but an article in the Herald last week. Did you read it?

I did. I thought it was a good article.

I did. I thought it was a good article.

And he points out that New Zealand ranks near the top of per capita resources and assets. But New Zealand ranks seventh globally for average private adult wealth. This is all great, but we are only ranked twenty second in the OECD for GDP per capita. So in other words, where's all the money going. We've got it, but it's not going into productivity, that's right.

And he points out that New Zealand ranks near the top of per capita resources and assets. But New Zealand ranks seventh globally for average private adult wealth. This is all great, but we are only ranked twenty second in the OECD for GDP per capita. So in other words, where's all the money going. We've got it, but it's not going into productivity, that's right.

So actually our fundamentals are good. We are a wealthy country when you think about our natural resources, our talent, our capability. The problem is, for actually decades, we've done badly on what people call productivity, which is how much we produce for an hour of work. How people work hard, they work big hours, but we don't get enough value out of that, and that's because our economy hasn't been as efficient as it needs to be. The question for us is.

So actually our fundamentals are good. We are a wealthy country when you think about our natural resources, our talent, our capability. The problem is, for actually decades, we've done badly on what people call productivity, which is how much we produce for an hour of work. How people work hard, they work big hours, but we don't get enough value out of that, and that's because our economy hasn't been as efficient as it needs to be. The question for us is.

New Zealanders take their wealth and they invested in bricks and watar because the residential market has been so profitable for them, and then that's locked up money, you know, and you've met it even easier for investors to lock up money which should be going into businesses to expand.

New Zealanders take their wealth and they invested in bricks and watar because the residential market has been so profitable for them, and then that's locked up money, you know, and you've met it even easier for investors to lock up money which should be going into businesses to expand.

Well, I'd argue that actually we will continue to need rental properties available so that we have stabilization and rents in New Zealand. But you're right, I do want to see more investment and our industries and our export exporters because they're the ones actually making us a living in the world. And when you talk to farmers, when you talk to people in the digital services industries, they say for them to make those investments, they need to feel that in New Zealand, they're not going to face too much red tape. They can get skilled workers, that they've got good trading relationships that if they want to access capital, that is funding from other parts of the world, that that investment can come in, that we have a good science and innovation system to support them. So those are the sorts of issues we have to get into. The nitty gritty of it is actually an area that is about the detail of each of those areas. And as a government, we've been driving reform across the resource management system so people can get a consent. We're looking to cut through the red tape and the Health and Safety Act. We've been doing things with employment law, but there is more to.

Well, I'd argue that actually we will continue to need rental properties available so that we have stabilization and rents in New Zealand. But you're right, I do want to see more investment and our industries and our export exporters because they're the ones actually making us a living in the world. And when you talk to farmers, when you talk to people in the digital services industries, they say for them to make those investments, they need to feel that in New Zealand, they're not going to face too much red tape. They can get skilled workers, that they've got good trading relationships that if they want to access capital, that is funding from other parts of the world, that that investment can come in, that we have a good science and innovation system to support them. So those are the sorts of issues we have to get into. The nitty gritty of it is actually an area that is about the detail of each of those areas. And as a government, we've been driving reform across the resource management system so people can get a consent. We're looking to cut through the red tape and the Health and Safety Act. We've been doing things with employment law, but there is more to.

Do Roger and Roger also talks about five hundred billion dollars worth of Crown held assets that he believes locks up the capital. He believes we need to get into asset recycling, just like New South Wales have done over the last decade. Do you agree.

Do Roger and Roger also talks about five hundred billion dollars worth of Crown held assets that he believes locks up the capital. He believes we need to get into asset recycling, just like New South Wales have done over the last decade. Do you agree.

I agree that we need to manage the significant assets that the government owns much much better. When you look across the Tessman Sydney Melbourne. Part of what has allowed them to have much more advanced transport systems is that they have embraced public private partners. They've allowed new mechanisms for funding major public transport projects and major roads. And that's exactly the reforms that we put in last year with our National Infrastructure Agency now open for business and we are actively seeking investment from partners around the world to do a better job of delivering that infrastructure.

I agree that we need to manage the significant assets that the government owns much much better. When you look across the Tessman Sydney Melbourne. Part of what has allowed them to have much more advanced transport systems is that they have embraced public private partners. They've allowed new mechanisms for funding major public transport projects and major roads. And that's exactly the reforms that we put in last year with our National Infrastructure Agency now open for business and we are actively seeking investment from partners around the world to do a better job of delivering that infrastructure.

Well, because when you talk about asset recycling, that's just a new politically correct term for a little bit of privatization and that actually causes some willy wobbles, which and I know that causes willy wobbles because Christopher Luxon in his campaigns, we're saying we're not going to be doing this sort of stuff. So in a way you said we will.

Well, because when you talk about asset recycling, that's just a new politically correct term for a little bit of privatization and that actually causes some willy wobbles, which and I know that causes willy wobbles because Christopher Luxon in his campaigns, we're saying we're not going to be doing this sort of stuff. So in a way you said we will.

Well, what I've said is the first step is to manage our existing assets better. The second step is to make sure that when we're creating new assets, new roads, new hospitals, that we're doing that much more efficiently. And then down the line are potentially at the election we should have a conversation in New Zealand about our investments in the right place. Are these things that we would rather have than some of the things we currently have. That's a conversation for down the line. But first step, manage what we've got a lot better and deliver the new things we're committed to much more efficiently.

Well, what I've said is the first step is to manage our existing assets better. The second step is to make sure that when we're creating new assets, new roads, new hospitals, that we're doing that much more efficiently. And then down the line are potentially at the election we should have a conversation in New Zealand about our investments in the right place. Are these things that we would rather have than some of the things we currently have. That's a conversation for down the line. But first step, manage what we've got a lot better and deliver the new things we're committed to much more efficiently.

Now I apologize, but this is it has to be said. Labor Minister Stuart Nash has written an opinion piece today in newsroom. I don't know if you've read it or not, and then it and I quote for those who have not read it. There is a term circulating amongst the business community around the country. It's called being Willist. Being Willis happens to senior businessmen and women who attend meetings with the Finance Minister Nicola Willis and leave having received a lecture on how to run a business and what they should do to be successful. Despite the fact that Nicola Willis has not been in the business sector apart from one job at Fonterra. What do you make of what Stuart's has written?

Now I apologize, but this is it has to be said. Labor Minister Stuart Nash has written an opinion piece today in newsroom. I don't know if you've read it or not, and then it and I quote for those who have not read it. There is a term circulating amongst the business community around the country. It's called being Willist. Being Willis happens to senior businessmen and women who attend meetings with the Finance Minister Nicola Willis and leave having received a lecture on how to run a business and what they should do to be successful. Despite the fact that Nicola Willis has not been in the business sector apart from one job at Fonterra. What do you make of what Stuart's has written?

Well, I was so cross when I read that, because it's so far from what I say to business audiences and such a false depiction of my role at Fonterra that I actually rang Stuart today to ask him where he's coming from. Fortunately, he hasn't picked up my call yet, So if you're listening, Stu, give me a call, because one of the first things I say to business audiences wherever I am in the country is it's not the government who should tell you how to run your business. You know how to do it better than we do. Our job is to create the conditions in which you can succeed. And I'll also defend myself. At Fonterra, I had a range of roles including trade strategy with some of our critical trading partners around the world, deploying our commercial strategy, and ultimately running an operational unit with farms and waste management. So his characterization of my experience is wrong. We all make mistakes, Jue, so you are open to correct that one, all right.

Well, I was so cross when I read that, because it's so far from what I say to business audiences and such a false depiction of my role at Fonterra that I actually rang Stuart today to ask him where he's coming from. Fortunately, he hasn't picked up my call yet, So if you're listening, Stu, give me a call, because one of the first things I say to business audiences wherever I am in the country is it's not the government who should tell you how to run your business. You know how to do it better than we do. Our job is to create the conditions in which you can succeed. And I'll also defend myself. At Fonterra, I had a range of roles including trade strategy with some of our critical trading partners around the world, deploying our commercial strategy, and ultimately running an operational unit with farms and waste management. So his characterization of my experience is wrong. We all make mistakes, Jue, so you are open to correct that one, all right.

Now, Look, you've just hid the visitor Levy from thirty five dollars to one hundred bucks per traveler counselors and of course the Department of Conservation want that money. They feel it's being sucked up into the consolidated fund or some slush fund somewhere. Are you going to give councils and dock more to manage our our assets that are stressed by tourism.

Now, Look, you've just hid the visitor Levy from thirty five dollars to one hundred bucks per traveler counselors and of course the Department of Conservation want that money. They feel it's being sucked up into the consolidated fund or some slush fund somewhere. Are you going to give councils and dock more to manage our our assets that are stressed by tourism.

Yes. Our view is that having more international visitors come to New Zealand is the really good thing, and I'm delighted that the numbers for our foreign visitors through December and January are the highest I've been in five years. That does create pressure both on our conservation estate, our national parks and the infrastructure needed to support those visitors, and it creates pressure in our regions in terms of what tourists coming in require. So we haven't made as our cabinet decisions yet on what we will do specifically with that additional revenue, but our intention is to support both conservation activity and to support tourism and to keep that pump going so that we keep attracting tourists and the money they bring to our businesses, our retailers, our hospitality providers.

Yes. Our view is that having more international visitors come to New Zealand is the really good thing, and I'm delighted that the numbers for our foreign visitors through December and January are the highest I've been in five years. That does create pressure both on our conservation estate, our national parks and the infrastructure needed to support those visitors, and it creates pressure in our regions in terms of what tourists coming in require. So we haven't made as our cabinet decisions yet on what we will do specifically with that additional revenue, but our intention is to support both conservation activity and to support tourism and to keep that pump going so that we keep attracting tourists and the money they bring to our businesses, our retailers, our hospitality providers.

Now and as I said at the beginning of the program of New Zealand certainly has a mojo at the moment. I mean you see what happened on this past weekend. Everywhere, everybody's out, everybody's making things happen entrepreneurially. We're up for it, mate. A year of growth is what we all want. Nicola, I thank you so much for your time today. That is Nicola Willis, the Finance Minister.

Now and as I said at the beginning of the program of New Zealand certainly has a mojo at the moment. I mean you see what happened on this past weekend. Everywhere, everybody's out, everybody's making things happen entrepreneurially. We're up for it, mate. A year of growth is what we all want. Nicola, I thank you so much for your time today. That is Nicola Willis, the Finance Minister.

For more from Hither Duplessy Allen Drive. Listen live to news talks it'd be from four pm weekdays, or follow the podcast on iHeartRadio.

For more from Hither Duplessy Allen Drive. Listen live to news talks it'd be from four pm weekdays, or follow the podcast on iHeartRadio.