July 29, 2024 • 6 mins
We catch up with the Minister of Agriculture and Trade as he catches his breath after recent trade trips around the globe including the G7 in Italy, the UAE and India. We also ask why, if the Nats are such a farmer-friendly government, why are farmers are so down in the dumps?
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Episode Transcript
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Speaker 1 (00:00):
Todd McClay is the Minister of Agriculture and Trade. We
catch him on a rare visit to New Zealand, basically
because he's been on a plane selling our wares around
the world. I want to start Todd with yesterday's story,
and we talked to Wayne Langford, president of Federated Farmers
about this one, the latest farmer confidence survey. Even though
you guys claim to be farmer friendly, why are farmers
(00:23):
so down on the dumps?
Speaker 2 (00:25):
Yeah, Jamie, Okay, thanks having me on. It is very
concerning and the reason I guess I'm most concerned is
behind those numbers of hard working men and women in
rural New Zealand who are doing it hard. I think
it's a combination of things. At the moment, we've got
very soft commodity prices around the world. Geopolitics means that
freights and stuff overseas is a lot more costly and
(00:46):
harder as well. But here at home, I reckon the
number one thing is around banking inflation and interest rates,
and that's just cutting into you know, farm profits. You
know it's actually the same for every single New Zealand
interest rates to hire and you're having to give much
more money to the bank. I'll tell you if there
was something in there though, that has changed in the
(01:07):
survey from a number that have been doing And when
you look at the things that farmers the most concerned
or worried about, cost of regulations or the weight of regulations,
and uncertainly about climate change has gone down much less
worried about that. I guess that's because we've started to
do a lot of important work in this area. And
I'm going to say that I think it is going
(01:28):
to take a little bit of time until you know
the changes that the Coalition government are making flow through
the one being delivered and to start having a real
effect upon a farm. But if you think about it,
in the last seven or eight months since reform, the
government ag out of the ups were disbanded. Here walk recinoa,
a review of you know, of the science and targets
and meta and against additional warming. The fresh water farm
(01:48):
planed work has started and going on very very quickly.
We've started the replacement of the national policies date with
fresh water, a banking review, particularly folks of rule banking,
and the list goes on and on. So we're doing
the hard yards in the work. But I'm just going
to say to the hard working focus on New Zealand,
it's going to take a little bit of time that
to flow through and inflation whilst it's on its way down,
(02:09):
it's going to take a little bit longer until his
interest rates start to track down fully.
Speaker 1 (02:13):
Do you fully support Federated Farmer's call for the banking inquiry?
Speaker 2 (02:18):
Yeah? I do, most certainly. I do, although saying we
need a wider review of all banking, but a particular
focus of course on rural banking. It's very very important
for two reasons. One to the bottom of exactly what's
happening there, and you know there are a lot of
valid concerns and the farmers I meet around their relationship
(02:39):
with the banks. But two week and work at what's
going on and see what changes, if any, are needed.
And so our most influential committee in Parliament, the Finance
and Expenditure Committee, along with the Prime Minister's Committee, will
head up the rural part of this review, and I
would just encourage all of those that have an interest,
particularly the bank to front up the committee, be really
(03:01):
open and talk about how we can get the balance
right so that bankers do the job they need to do.
But that the you know, rural in Zenna has known,
not only backed, it can grow and you know do
what it always does help the country pay off debt.
Speaker 1 (03:15):
Okay, Todd McClay, Minister of Agriculture and Trade with us,
can you give me some airpoints for Christmas? And I
say that Todd, because you've been in Italy, India and
the and the UAE. You've been everywhere man, and you're
going back to India. It seems to me that you've
formed a bit of a bond with there. What is
he the Minister of.
Speaker 2 (03:36):
Help me out here for Commerce and Trade?
Speaker 1 (03:39):
Yes, Commerce and Trade, A Minister Coyle.
Speaker 2 (03:43):
Yeah, that's right. Well look Chris Lax was very clear
he wants us out on the world stage hustling on
behalf of New Zealand as well as at home, you know,
doing our work and delivering for everyday Kiwis and for
our farmers. You know, we're an export nation. Eighty percent
of all the goods we sell Overseas come from World
Jean and actually we have to have really good market
access around the world so our farmers are not only
(04:05):
treated fairly, they get to compete and India is a
very big part of that. You know, we spoke a
few months ago when I was in China, which is
a very important eclumnigration relationship for US. But the government
has an ad strategy China and other parts of the world,
and that includes India, you know, with about one point
four billion consumers there and middle class consumers who want
(04:27):
to buy more. We don't have a trade deal with them.
Australia does, and so I think I've now had four
meetings in the last seven months with the Indian Trade Minister.
I'm up there again, as you said, early next month
and doing an agriculture visit. Actually are going to look
at a lot of agriculture there and there'll be at
least two more later this year of engagement at a
(04:47):
Prime minister will be visiting. So we're putting every single
effort into strengthening that relationship. Australia have a free trade agreement.
We need one too, and we're pulling out all the stops.
Speaker 1 (04:56):
Hey, perhaps just to finish on a light to note
a lighter note, aren't you glad you're no longer a
backbench and you're up the front there are being a
hard hitting minister for the government, Poor old Suess read
main one of your new National MPs, and I'm hoping
to speak to another one a week bit later in
the show in Miles Anderson, poor old Sues had to
get up and ask this patsy question in Parliament to you,
(05:18):
what more is the government doing to support the rural economy?
Aren't you glad you don't have to do that?
Speaker 2 (05:24):
Todd Well, I was never good at reading out questions
and so it's probably good for everybody that I'm not
a backbencher anymore. But sus in the entire rural team
is doing exceptionally well. She's really really hard working, she's
very very smart, she's representing her electorate. Well. I mean,
I'm very proud that we've got the strongest team and
government with four ministers in the agg space the New
(05:47):
Zealand has ever had. But if I look at the
National Party and act the New Zealand first, but in
this case the National Party representing farmers, representing rural New
Zealand and the rural electorates, we are as strong as
ever been. We walk work really well together collectively and
I think that's part of the reason that the field
days or if I'm out and about the country. Although
(06:08):
there's a lot of concern around the economy in thiss rates,
farmers are feeling better because they do feel fine and
who've got the government's on there side, understands who's going
to work as hard as they can to make your
life better for them?
Speaker 1 (06:19):
Yeah, minds you. It's a bit like the All Blacks
playing Georgia. There's not much opposition on the other side
of the house.
Speaker 2 (06:24):
George is not that bad.
Speaker 1 (06:26):
No, actually I probably used the wrong example. Has you
a gander got a rugby team? I don't know anyhow,
I'm being unkind Todd McLay thank you very much for
your time.
Speaker 2 (06:35):
Hey, great to talk to Jamie. Thank you
Todd McClay is the Minister of Agriculture and Trade. We
catch him on a rare visit to New Zealand, basically
because he's been on a plane selling our wares around
the world. I want to start Todd with yesterday's story,
and we talked to Wayne Langford, president of Federated Farmers
about this one, the latest farmer confidence survey. Even though
you guys claim to be farmer friendly, why are farmers
(00:23):
so down on the dumps?
Speaker 2 (00:25):
Yeah, Jamie, Okay, thanks having me on. It is very
concerning and the reason I guess I'm most concerned is
behind those numbers of hard working men and women in
rural New Zealand who are doing it hard. I think
it's a combination of things. At the moment, we've got
very soft commodity prices around the world. Geopolitics means that
freights and stuff overseas is a lot more costly and
(00:46):
harder as well. But here at home, I reckon the
number one thing is around banking inflation and interest rates,
and that's just cutting into you know, farm profits. You
know it's actually the same for every single New Zealand
interest rates to hire and you're having to give much
more money to the bank. I'll tell you if there
was something in there though, that has changed in the
(01:07):
survey from a number that have been doing And when
you look at the things that farmers the most concerned
or worried about, cost of regulations or the weight of regulations,
and uncertainly about climate change has gone down much less
worried about that. I guess that's because we've started to
do a lot of important work in this area. And
I'm going to say that I think it is going
(01:28):
to take a little bit of time until you know
the changes that the Coalition government are making flow through
the one being delivered and to start having a real
effect upon a farm. But if you think about it,
in the last seven or eight months since reform, the
government ag out of the ups were disbanded. Here walk recinoa,
a review of you know, of the science and targets
and meta and against additional warming. The fresh water farm
(01:48):
planed work has started and going on very very quickly.
We've started the replacement of the national policies date with
fresh water, a banking review, particularly folks of rule banking,
and the list goes on and on. So we're doing
the hard yards in the work. But I'm just going
to say to the hard working focus on New Zealand,
it's going to take a little bit of time that
to flow through and inflation whilst it's on its way down,
(02:09):
it's going to take a little bit longer until his
interest rates start to track down fully.
Speaker 1 (02:13):
Do you fully support Federated Farmer's call for the banking inquiry?
Speaker 2 (02:18):
Yeah? I do, most certainly. I do, although saying we
need a wider review of all banking, but a particular
focus of course on rural banking. It's very very important
for two reasons. One to the bottom of exactly what's
happening there, and you know there are a lot of
valid concerns and the farmers I meet around their relationship
(02:39):
with the banks. But two week and work at what's
going on and see what changes, if any, are needed.
And so our most influential committee in Parliament, the Finance
and Expenditure Committee, along with the Prime Minister's Committee, will
head up the rural part of this review, and I
would just encourage all of those that have an interest,
particularly the bank to front up the committee, be really
(03:01):
open and talk about how we can get the balance
right so that bankers do the job they need to do.
But that the you know, rural in Zenna has known,
not only backed, it can grow and you know do
what it always does help the country pay off debt.
Speaker 1 (03:15):
Okay, Todd McClay, Minister of Agriculture and Trade with us,
can you give me some airpoints for Christmas? And I
say that Todd, because you've been in Italy, India and
the and the UAE. You've been everywhere man, and you're
going back to India. It seems to me that you've
formed a bit of a bond with there. What is
he the Minister of.
Speaker 2 (03:36):
Help me out here for Commerce and Trade?
Speaker 1 (03:39):
Yes, Commerce and Trade, A Minister Coyle.
Speaker 2 (03:43):
Yeah, that's right. Well look Chris Lax was very clear
he wants us out on the world stage hustling on
behalf of New Zealand as well as at home, you know,
doing our work and delivering for everyday Kiwis and for
our farmers. You know, we're an export nation. Eighty percent
of all the goods we sell Overseas come from World
Jean and actually we have to have really good market
access around the world so our farmers are not only
(04:05):
treated fairly, they get to compete and India is a
very big part of that. You know, we spoke a
few months ago when I was in China, which is
a very important eclumnigration relationship for US. But the government
has an ad strategy China and other parts of the world,
and that includes India, you know, with about one point
four billion consumers there and middle class consumers who want
(04:27):
to buy more. We don't have a trade deal with them.
Australia does, and so I think I've now had four
meetings in the last seven months with the Indian Trade Minister.
I'm up there again, as you said, early next month
and doing an agriculture visit. Actually are going to look
at a lot of agriculture there and there'll be at
least two more later this year of engagement at a
(04:47):
Prime minister will be visiting. So we're putting every single
effort into strengthening that relationship. Australia have a free trade agreement.
We need one too, and we're pulling out all the stops.
Speaker 1 (04:56):
Hey, perhaps just to finish on a light to note
a lighter note, aren't you glad you're no longer a
backbench and you're up the front there are being a
hard hitting minister for the government, Poor old Suess read
main one of your new National MPs, and I'm hoping
to speak to another one a week bit later in
the show in Miles Anderson, poor old Sues had to
get up and ask this patsy question in Parliament to you,
(05:18):
what more is the government doing to support the rural economy?
Aren't you glad you don't have to do that?
Speaker 2 (05:24):
Todd Well, I was never good at reading out questions
and so it's probably good for everybody that I'm not
a backbencher anymore. But sus in the entire rural team
is doing exceptionally well. She's really really hard working, she's
very very smart, she's representing her electorate. Well. I mean,
I'm very proud that we've got the strongest team and
government with four ministers in the agg space the New
(05:47):
Zealand has ever had. But if I look at the
National Party and act the New Zealand first, but in
this case the National Party representing farmers, representing rural New
Zealand and the rural electorates, we are as strong as
ever been. We walk work really well together collectively and
I think that's part of the reason that the field
days or if I'm out and about the country. Although
(06:08):
there's a lot of concern around the economy in thiss rates,
farmers are feeling better because they do feel fine and
who've got the government's on there side, understands who's going
to work as hard as they can to make your
life better for them?
Speaker 1 (06:19):
Yeah, minds you. It's a bit like the All Blacks
playing Georgia. There's not much opposition on the other side
of the house.
Speaker 2 (06:24):
George is not that bad.
Speaker 1 (06:26):
No, actually I probably used the wrong example. Has you
a gander got a rugby team? I don't know anyhow,
I'm being unkind Todd McLay thank you very much for
your time.
Speaker 2 (06:35):
Hey, great to talk to Jamie. Thank you
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