July 2, 2024 • 8 mins
The PM address at this morning's at the Primary Industries Summit was about "how the Government will turn the dial to support the growth and prosperity of the primary sector".
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Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:00):
Day two of the Primary Industry Summer to this morning
in Wellington, Prime Minister Christopher lux and his topic should
he choose to accept that what she did was supporting
growth and prosperity in the primary sector. Prime Minister, what
sort of reception did you get from the fans at
the conference?
Speaker 2 (00:16):
Oh, I think people are really apprecious.
Speaker 3 (00:18):
They've got a government that's backing farming and primary industries now,
and you know, there's nothing more important to New Zealand's
future success than a successful, growing primary industry sector. So
you know, my message to them, which I've spoken to
similar forums across the country, is to zaylock, We've got
a great country. We're off track at the moment, but
we'll get it sorted. We've no got a short term
(00:39):
challenge to get interest rates down so that we can
get things growing. But we've also got this massive potential
living in this part of the world with all the
opportunities that are around us in the Indo Pacific region,
and so you know, but a key part of that
and the lead piece has to be success in primary
industry sector. So you know, that was really our conversation
and talking a little bit about why it's so crucial.
(00:59):
But more importantly, you know, what are we trying to
do with the government, and what we're doing is you know,
making sure we get rid of the red tape. We're
growing trade, we're opening up technology and investment.
Speaker 1 (01:09):
Ultimately, the great quote from yesterday's show was from your
Trade and Agriculture Minister Todd McLay who said, I want
to get Wellington out of farming. Good quote.
Speaker 2 (01:19):
Yeah, well, it's how we feel. It's how we feel.
Speaker 3 (01:21):
I mean, as I said to the team today, you know,
it's about us working with each other rather than our
government doing things to the sector.
Speaker 2 (01:29):
Right.
Speaker 3 (01:30):
And I'm sure we won't agree on everything, but you know,
vast majority we should be very aligned because the solutions
to the challenges we've got and the solutions to the
massive opportunities that we have will come from the sector,
not from Willington.
Speaker 1 (01:41):
Now, I note that the dignitaries political dignitaries there. We've
mentioned Todd McLay, Mark Patterson from New Zealand. First there
ag guy excuse me, Andrew Hoggard, the ag guy for
Act Rachel Brookings. She was sitting on my table from Labor.
Joe Luxton was there as well, but no representation from
the Greens or to part What does that say about
(02:02):
their connection or lack of with agriculture and the primary sector.
Speaker 3 (02:07):
Well, I mean that's really a question you have to
ask then rather than be talk for them. But all
I can talk to is my own party and our
coalition government and say that you know what we are.
We're going to back back.
Speaker 2 (02:17):
Agriculture because when you look.
Speaker 3 (02:18):
At what it does for our economy, the size of it,
it's eighty percent of all our goods exported. It's massive,
and so you know we get that growing. That's a
big part of the growth a New Zealand desperately needs.
Speaker 1 (02:30):
Well, I've got some of the keynote points from your
speech this morning. You talked about inflation coming down, intrast
rates remaining high, but they've peaked. We all know they've peaked,
but we just want them to drop, and we're just
getting more and more bad news on the economic front.
Could we perhaps get a drop in the ocr before
the end of the year simply because the economy is tanking?
Speaker 3 (02:51):
Well again, what I mean, there's lots of you know,
there's lots of economists with lots of views.
Speaker 2 (02:54):
What we've got to do is focus.
Speaker 3 (02:56):
On what we can control, and what we can control
is government spending and getting what's called fiscal settings right,
Adrian or on the reserve band, get what's called the
monetary settings right. And what we know is that we
have to get inflash back below three percent. The good
news is that we're inflation has come down from seven
to four percent. The four castes that by the end
of the year it will be at three, and I
(03:16):
would expect them very quickly. We will have interest rate
cuts and that will be important because that will be
obviously luring costs on people and enabling people to invest
and grow an economy and to grow employment.
Speaker 2 (03:27):
So you know, we have to go back.
Speaker 3 (03:29):
Unfortunately, given the situation we've inherit in the hangover, we
now have through understanding basic economics, which is, if you
spend a lot of money in government spending, that drives
domestic inflation, that drives interest rates, that puts the economy
into recession, that risk creating unemployment. And so we're fixing
the core problem. And so yeah, we all want to
see I want to see inflation down at three because
then we've got to get interest rates lowered immediately. And
(03:52):
that's what I would expect.
Speaker 1 (03:54):
The government to set an ambitious goal to double the
value of our exports in the next ten years. Is
that an one realistic goal? Can you, for instance, and
Dearie's the biggest act in town, can you afford to
double the value of dairy exports? Aren't we at peak cow?
It was interesting that Ray Smith from MPI is suggested
or inferred that maybe we're not at peak cow. How
(04:15):
does that work?
Speaker 3 (04:17):
Well, I mean we want to grow and I think
we can. You know, we've built this whole sector and
the reason we're the best in the world at it
is because for one hundred and fifty years we've continually
embraced technology and innovation and by doing that, we've actually
continually improved productivity in the sector and that's why we
are the best in the world at it. There's a
lot of lessons to other sectors to take from the
(04:37):
sector into the economy as well.
Speaker 2 (04:39):
So look, maybe it's a very bold.
Speaker 3 (04:41):
Ambition yet we want to.
Speaker 2 (04:42):
Double the value of our exports, but we have to have.
Speaker 3 (04:45):
A bold ambition and we want to focus that because
what that has meant in the first seven months is
that you know, Winston Peters is out seeing the world.
I'm out seeing the world. Todd mcclay's doing the same thing,
because we're all realizing we're a training nation. We're five
million people in the South paste ohould that needs to
deal with eight billion people in one hundred and tinety
five countries, and one and four of our dobs are
(05:05):
tied to trade. And those companies that export actually pay
higher salaries and wages to their employees and those that don't.
So really, we have to set some big ambition and
we sit in a.
Speaker 2 (05:15):
Really exciting bug in a part of the world where
you're standing all across.
Speaker 3 (05:18):
The Indo Pacific region, countries that are actually growing their
middle classes, that are desperate for New Zealand products and services.
Food securities are major major issue that comes up in
all of my one on one conversations with Southeast Asian
political leaders, and so I think we've got a massive opportunity.
And by setting a goal like that, we're changing our
mindset to say we are going to have some ambition,
(05:39):
we are going to have some aspiration, we are going
to celebrate excellence, and we're damn well going to go
out and hunt in the world and actually make it
come together.
Speaker 2 (05:45):
So that's why that goal's there. So yep, we can
discuss the target, but we can go to.
Speaker 1 (05:50):
Something about okay, just a couple to quickly finish on.
You touched on agricultural emissions. The cynics and the critics
would say, you're merely this is the current merely kicking
the can down the road.
Speaker 3 (06:04):
Now I disagree. You know, what we're saying very clearly
is we've got a dilemma. We've got the most carbon
efficient farmers in the world shutting our own farms down
and our production down to send it to a less
carbon efficient country that ends up worsening global greenhouse gas
emissions is bad.
Speaker 2 (06:18):
Equally, we have.
Speaker 3 (06:19):
A strong commitment to delivering on our twenty net zero
twenty fifty goals, and we know that agricultural missions are
half of our program. But the key to all of
that is technology and innovation. And that's why we are
pushing on with our ge laws that were and biotech
laws that enable us to have some of the tools
and technologies that other farmers have around the world that
(06:39):
we don't have in New Zealand.
Speaker 2 (06:41):
And if that.
Speaker 3 (06:41):
Improves our productivity and efficiency and also lowers our missions,
those two things don't.
Speaker 2 (06:46):
Have to be mutually exclusive if.
Speaker 3 (06:48):
You reframe it and think about it in a different way.
Speaker 1 (06:50):
Hey, all of us have hobbies. Mine's golf, which I
don't do very well. You're also studying American presidents. You
would I don't know how you go on that you
would have watched with great interest. I know you would
have without even asking you the Biden Trump debate. How
in a weird, bizarre sort of way, how exciting is
(07:10):
American politics at the moment.
Speaker 2 (07:13):
Oh, look, I'm not going to comment on that. I
know you can't for American people to work through.
Speaker 3 (07:19):
But my job is to work with whoever the American
people selected their leader, as I work with any country
and their leader, and make sure I'm advancing New Zealand's
national interests. So that's partly why I'm heading to the
US next week, is to spend time building those relationships.
Speaker 2 (07:35):
Across the political leadership across the US.
Speaker 3 (07:38):
It's also a chance to meet many European leaders because
I've been invited as part of the IP four into
Pacific four countries to do are partners of NATO, to
a NATO meeting. And it's also chanced me to talk
to big US investors about what why New Zealand's a
great place to invest in as well.
Speaker 1 (07:54):
Do you get to meet Biden?
Speaker 3 (07:56):
I suspect we will meet because he's hosting US and
the IP four and an after meeting, so I'm sure
we'll meet either on the margins at the meeting and
have an opportunities have a chat.
Speaker 1 (08:06):
Well you wake them up before you have that meeting.
Christopher Lux and thank you very much for your time
today on the country and thanks for taking time out
to address the primary sector in Wellington this morning.
Speaker 2 (08:16):
Pleasure Jamie. Good to be with you as all weys
Day two of the Primary Industry Summer to this morning
in Wellington, Prime Minister Christopher lux and his topic should
he choose to accept that what she did was supporting
growth and prosperity in the primary sector. Prime Minister, what
sort of reception did you get from the fans at
the conference?
Speaker 2 (00:16):
Oh, I think people are really apprecious.
Speaker 3 (00:18):
They've got a government that's backing farming and primary industries now,
and you know, there's nothing more important to New Zealand's
future success than a successful, growing primary industry sector. So
you know, my message to them, which I've spoken to
similar forums across the country, is to zaylock, We've got
a great country. We're off track at the moment, but
we'll get it sorted. We've no got a short term
(00:39):
challenge to get interest rates down so that we can
get things growing. But we've also got this massive potential
living in this part of the world with all the
opportunities that are around us in the Indo Pacific region,
and so you know, but a key part of that
and the lead piece has to be success in primary
industry sector. So you know, that was really our conversation
and talking a little bit about why it's so crucial.
(00:59):
But more importantly, you know, what are we trying to
do with the government, and what we're doing is you know,
making sure we get rid of the red tape. We're
growing trade, we're opening up technology and investment.
Speaker 1 (01:09):
Ultimately, the great quote from yesterday's show was from your
Trade and Agriculture Minister Todd McLay who said, I want
to get Wellington out of farming. Good quote.
Speaker 2 (01:19):
Yeah, well, it's how we feel. It's how we feel.
Speaker 3 (01:21):
I mean, as I said to the team today, you know,
it's about us working with each other rather than our
government doing things to the sector.
Speaker 2 (01:29):
Right.
Speaker 3 (01:30):
And I'm sure we won't agree on everything, but you know,
vast majority we should be very aligned because the solutions
to the challenges we've got and the solutions to the
massive opportunities that we have will come from the sector,
not from Willington.
Speaker 1 (01:41):
Now, I note that the dignitaries political dignitaries there. We've
mentioned Todd McLay, Mark Patterson from New Zealand. First there
ag guy excuse me, Andrew Hoggard, the ag guy for
Act Rachel Brookings. She was sitting on my table from Labor.
Joe Luxton was there as well, but no representation from
the Greens or to part What does that say about
(02:02):
their connection or lack of with agriculture and the primary sector.
Speaker 3 (02:07):
Well, I mean that's really a question you have to
ask then rather than be talk for them. But all
I can talk to is my own party and our
coalition government and say that you know what we are.
We're going to back back.
Speaker 2 (02:17):
Agriculture because when you look.
Speaker 3 (02:18):
At what it does for our economy, the size of it,
it's eighty percent of all our goods exported. It's massive,
and so you know we get that growing. That's a
big part of the growth a New Zealand desperately needs.
Speaker 1 (02:30):
Well, I've got some of the keynote points from your
speech this morning. You talked about inflation coming down, intrast
rates remaining high, but they've peaked. We all know they've peaked,
but we just want them to drop, and we're just
getting more and more bad news on the economic front.
Could we perhaps get a drop in the ocr before
the end of the year simply because the economy is tanking?
Speaker 3 (02:51):
Well again, what I mean, there's lots of you know,
there's lots of economists with lots of views.
Speaker 2 (02:54):
What we've got to do is focus.
Speaker 3 (02:56):
On what we can control, and what we can control
is government spending and getting what's called fiscal settings right,
Adrian or on the reserve band, get what's called the
monetary settings right. And what we know is that we
have to get inflash back below three percent. The good
news is that we're inflation has come down from seven
to four percent. The four castes that by the end
of the year it will be at three, and I
(03:16):
would expect them very quickly. We will have interest rate
cuts and that will be important because that will be
obviously luring costs on people and enabling people to invest
and grow an economy and to grow employment.
Speaker 2 (03:27):
So you know, we have to go back.
Speaker 3 (03:29):
Unfortunately, given the situation we've inherit in the hangover, we
now have through understanding basic economics, which is, if you
spend a lot of money in government spending, that drives
domestic inflation, that drives interest rates, that puts the economy
into recession, that risk creating unemployment. And so we're fixing
the core problem. And so yeah, we all want to
see I want to see inflation down at three because
then we've got to get interest rates lowered immediately. And
(03:52):
that's what I would expect.
Speaker 1 (03:54):
The government to set an ambitious goal to double the
value of our exports in the next ten years. Is
that an one realistic goal? Can you, for instance, and
Dearie's the biggest act in town, can you afford to
double the value of dairy exports? Aren't we at peak cow?
It was interesting that Ray Smith from MPI is suggested
or inferred that maybe we're not at peak cow. How
(04:15):
does that work?
Speaker 3 (04:17):
Well, I mean we want to grow and I think
we can. You know, we've built this whole sector and
the reason we're the best in the world at it
is because for one hundred and fifty years we've continually
embraced technology and innovation and by doing that, we've actually
continually improved productivity in the sector and that's why we
are the best in the world at it. There's a
lot of lessons to other sectors to take from the
(04:37):
sector into the economy as well.
Speaker 2 (04:39):
So look, maybe it's a very bold.
Speaker 3 (04:41):
Ambition yet we want to.
Speaker 2 (04:42):
Double the value of our exports, but we have to have.
Speaker 3 (04:45):
A bold ambition and we want to focus that because
what that has meant in the first seven months is
that you know, Winston Peters is out seeing the world.
I'm out seeing the world. Todd mcclay's doing the same thing,
because we're all realizing we're a training nation. We're five
million people in the South paste ohould that needs to
deal with eight billion people in one hundred and tinety
five countries, and one and four of our dobs are
(05:05):
tied to trade. And those companies that export actually pay
higher salaries and wages to their employees and those that don't.
So really, we have to set some big ambition and
we sit in a.
Speaker 2 (05:15):
Really exciting bug in a part of the world where
you're standing all across.
Speaker 3 (05:18):
The Indo Pacific region, countries that are actually growing their
middle classes, that are desperate for New Zealand products and services.
Food securities are major major issue that comes up in
all of my one on one conversations with Southeast Asian
political leaders, and so I think we've got a massive opportunity.
And by setting a goal like that, we're changing our
mindset to say we are going to have some ambition,
(05:39):
we are going to have some aspiration, we are going
to celebrate excellence, and we're damn well going to go
out and hunt in the world and actually make it
come together.
Speaker 2 (05:45):
So that's why that goal's there. So yep, we can
discuss the target, but we can go to.
Speaker 1 (05:50):
Something about okay, just a couple to quickly finish on.
You touched on agricultural emissions. The cynics and the critics
would say, you're merely this is the current merely kicking
the can down the road.
Speaker 3 (06:04):
Now I disagree. You know, what we're saying very clearly
is we've got a dilemma. We've got the most carbon
efficient farmers in the world shutting our own farms down
and our production down to send it to a less
carbon efficient country that ends up worsening global greenhouse gas
emissions is bad.
Speaker 2 (06:18):
Equally, we have.
Speaker 3 (06:19):
A strong commitment to delivering on our twenty net zero
twenty fifty goals, and we know that agricultural missions are
half of our program. But the key to all of
that is technology and innovation. And that's why we are
pushing on with our ge laws that were and biotech
laws that enable us to have some of the tools
and technologies that other farmers have around the world that
(06:39):
we don't have in New Zealand.
Speaker 2 (06:41):
And if that.
Speaker 3 (06:41):
Improves our productivity and efficiency and also lowers our missions,
those two things don't.
Speaker 2 (06:46):
Have to be mutually exclusive if.
Speaker 3 (06:48):
You reframe it and think about it in a different way.
Speaker 1 (06:50):
Hey, all of us have hobbies. Mine's golf, which I
don't do very well. You're also studying American presidents. You
would I don't know how you go on that you
would have watched with great interest. I know you would
have without even asking you the Biden Trump debate. How
in a weird, bizarre sort of way, how exciting is
(07:10):
American politics at the moment.
Speaker 2 (07:13):
Oh, look, I'm not going to comment on that. I
know you can't for American people to work through.
Speaker 3 (07:19):
But my job is to work with whoever the American
people selected their leader, as I work with any country
and their leader, and make sure I'm advancing New Zealand's
national interests. So that's partly why I'm heading to the
US next week, is to spend time building those relationships.
Speaker 2 (07:35):
Across the political leadership across the US.
Speaker 3 (07:38):
It's also a chance to meet many European leaders because
I've been invited as part of the IP four into
Pacific four countries to do are partners of NATO, to
a NATO meeting. And it's also chanced me to talk
to big US investors about what why New Zealand's a
great place to invest in as well.
Speaker 1 (07:54):
Do you get to meet Biden?
Speaker 3 (07:56):
I suspect we will meet because he's hosting US and
the IP four and an after meeting, so I'm sure
we'll meet either on the margins at the meeting and
have an opportunities have a chat.
Speaker 1 (08:06):
Well you wake them up before you have that meeting.
Christopher Lux and thank you very much for your time
today on the country and thanks for taking time out
to address the primary sector in Wellington this morning.
Speaker 2 (08:16):
Pleasure Jamie. Good to be with you as all weys
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