May 17, 2026 • 11 mins
Chris Luxon is firing back at Winston Peters over his latest comments about immigration.
The New Zealand First Leader has been accusing his Coalition partners National and Act of being too slow on immigration.
The Prime Minister and National Leader says he feels like there's a bit of anti-immigration cos-playing going on, whereby some politicians pretend to be Donald Trump, Nigel Farage or Marine Le Pen.
He told Mike Hosking that the remarks by Peters are an example of that.
Luxon says New Zealand doesn't have uncontrolled immigration, while the US has 13 to 14 million illegal immigrants.
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Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:00):
It's Monday morning. The Prime Minister is in the studio
Chrystal b Lux and good morning to you. Mike. How
I go to the end, I'm very well the announcement
coming today, I'm sure you don't want to preview it
too much of the primary the resources, the classrooms and stuff.
Does that come? Is there money attached to this, because
at two point one billion you don't have much left.
Speaker 2 (00:17):
Yeah, Look, it's part of our pre budget announcements on education.
We've actually done a very good job of finding wasteful
money and actually redeploying it. You know, if you think
about the cost of those classrooms at one point two
million dollars when we started, we've got that down to
six hundred thousand. That means you've got more money. So
there's been quite a good program of work actually in
education about identifying back off for savings and then getting
(00:37):
it forward deployed into the teachers.
Speaker 1 (00:40):
So what do we get today, Is it literally more resource?
Speaker 2 (00:42):
Yeah, well we'll talk about that later on this afternoon.
You would have seen this morning. You know, we've had
some good encouraging, initially encouraging results on our maths program.
We've put a whole new structured mathematics program in place
in the last year and a half that's more like
a Singaporean or Australian approach to teaching maths. Teachers have
done an amazing job actually getting that into classrooms and
(01:04):
our kids seem to be responding to it pretty well,
which is good.
Speaker 1 (01:06):
The social cohesion thing that you talked about it you
speak to last week, what is that about when it
comes to immigrant.
Speaker 2 (01:12):
It's just essentially saying look as well, Actually, I was
trying to say something a bit broader than there's been some.
Speaker 1 (01:18):
Momentarily like Winston had got to you.
Speaker 2 (01:20):
There is the opposite of what I'm trying to say
very clearly in you and I've had this chat before,
is Look, if you think about social cohesion, we take
it for granted that there's going to be social trust
and social cohesion in New Zealand to each other and
with our institutions around the world. It's a major problem
and there's actually some rising pressures on it here in
New Zealand as well. I think if you're going to
be driving broad national security and making His Zealand stronger
(01:41):
and more secure, you need need that to be in
good shape. The point I was trying to make was Look,
our immigration system is amooks have done an amazing job.
They shouldn't be vilified to come here. They work damn hard,
they do an incredible job. But the reason it works
in New Zealand is because we've got a smart, targeted
and fair immigration system. And I think there's a bit
of anti immigration sort of cosplay going on where some
politicians are pretending to be Trump or Farage or the
(02:02):
pen because we don't have those uncontrolled well, I think, yeah,
for exactly, we don't have uncontrolled or illegal immigration in
this country. I lived in the US for eight years.
There's thirteen to fourteen million illegal immigrants inside the US today.
In the UK, you know, they get about one hundred
and fifteen people a day coming over illegally in small
(02:23):
boats alone. There's probably a million folk inside the UK
that they think are illegal. Go look at Germany. They
had a million asylum seekers coming in a single year,
So we haven't had that problem of illegal and uncontrolled migration. Equally,
look at Canada. They failed to link their immigration policy
to their economic story and ultimately to their infrastructure capacity,
(02:43):
and they've had to revisit all of their settings as well,
we have tightened up our settings. Over the last two years.
We've gone from when we started one hundred and thirty
thousand net migration now to twenty five thousand. We've gone
from seventy percent low skill to seventy percent high skilled.
And all I signaling was we're going to continue to
make sure that's has integrity by being.
Speaker 1 (03:03):
Well, we got the numbers last week is twenty five
thousand ish net gain about right.
Speaker 2 (03:07):
It's been about thirty one thousand average from two thousand
and two to twenty twenty five from memory, So we're
getting it's about right because it's you know, that's the
sort of in that vicinity. We can handle that. And
everything's linked to our green list of where we've got
job shortages. And that's why I've reacted so strongly to
the Indian FTA claims about you know, it's just a
massive immigration companies. Now that's not true. Even so, if
(03:30):
you're going to have a conversation immigration, get bounded on
the facts and know exactly what we have.
Speaker 1 (03:35):
Even if you listened to Winston, which I did yesterday
in a speech, even if everything he says is true
in terms of the people coming in from the It
doesn't strike me as a problem. It's ten to twenty
thousand people on, which is not the end of the field.
Speaker 2 (03:46):
Look at Canada, which previously had an immigration policy, but
in the last you know, probably six seven years, lost
the plot on it, didn't keep it linked to its
economic challenge. That's when you lose it. And that's at
twenty five thousand net migration, and with average thirty one thousand,
that's been about right. We can build the houses, we
can actually make sure that we've got the vacancies that
(04:07):
we have in the economy field, while also knowing we've
got to get our people off unemployment, out of welfare
and to work as well. So you know, I think
we've done a very good job of balancing all of that.
And as I keep saying, we've got a smart, fear
targeted system.
Speaker 1 (04:20):
The White Tangy Tribunal came out with yet another one
of their reports on treaty clauses. This is with education.
You'll I'm assuming going to do nothing with it on
education Treaty causes within the education system and the adherence
to the treaty within education.
Speaker 2 (04:38):
Oh look, honestly, I'm over that conversation. You know, our schools, fine,
and they need to be five any of you paying
for them? Well, the White Tanga Tribunal, Yeah, well why.
Speaker 1 (04:47):
Why are you paying for them to come out with
yet more of this that you're going to go, oh,
I'm over this. Well, they're entitled to come out with
their views. Yeah, yeah, said, but you're funding them.
Speaker 2 (04:55):
We're not. We're not making schools. You know, say that
they've got a primary responsible don't one of the treaty?
Their primary response is get.
Speaker 1 (05:01):
Kids to school. Well, most people would agree with you.
And you continue to find the White Tankage Tribunal to
the tune of tens of millions of dollars a year
that you don't have to come out with stuff you
know you're going.
Speaker 2 (05:10):
Well, there is there is a bigger question, as I've
said before about the White Tangia Tribunal, which we'll have
to look at, which is actually what is its role
going forward? Whether you are pro the White Tangier Tribunal
or a get it. The reality is both sides would
say post treaty settlements which were increasingly get just breaking through,
what is the future of that?
Speaker 1 (05:27):
So I've asked you about this before and you sort
of this strikes me as something similar to the social
media reform, which struck me as you're not being overly
enthusiastic about it, just sort of can we talk about
that one? No, we can't. Well we can if you
are generalization, if you are, if you ask me properly.
On the White Tangage Tribunal, this seems to be one
of those things you're kicking down the road. What work
(05:48):
is it? Where's Tarmaar on this? He's been at this
for two years?
Speaker 2 (05:51):
Yeah? Look, I mean the White Tangi Tribunal has had
a role well established in New Zealand. Whether you like
it or don't know, that's been the role that it's
had for a long time. It started ready with treaty settlement,
some even bit before.
Speaker 1 (06:01):
But we're done.
Speaker 2 (06:01):
But well we're not completely done. We've got a few
we're getting we're getting almost done.
Speaker 1 (06:05):
Why aren't we more done? Because they're writing clauses about
what you're doing in education? You just write stuff to us.
I know that. But you're funding them to do this crap.
Speaker 2 (06:13):
Well yes, but I have to. But we've got a
responsibility given how they've been set up. And all I'm
saying to you is that we have to ask a
pretty big question. When we do it, we have to really.
Speaker 1 (06:22):
Why how has it taken you so long to ask
this pretty big question? How long does Talma needs to
ask the question?
Speaker 2 (06:29):
Well, here is working his way through it. It's important
that you know if we're going to make any changes
to the way tang in tribune and when it's remit
as I've as I've said from the beginning, when you're
closing out treaty settlements, you know you've got to question
what the role of the organization is going forward.
Speaker 1 (06:42):
Why are you getting stuck into this?
Speaker 2 (06:43):
Well, mate, there's been quite a lot to get stuck
into before we get to this issue.
Speaker 1 (06:46):
Because the social media thing's the same I said to you.
It struck you me from right from the start. You're
not gripped by this I am. I am because you've
looked all around the world and what you found is
it doesn't work. Disagree, complete it doesn't work. And if
it does work, why haven't you done what Australia does.
Denmark did no, no, no, no one else.
Speaker 2 (07:04):
Well, that's exactly what we are doing. We're bringing a
piece of legislation to the House before the election. We've
got a comprehensive piece of work with legislations being drafted
right now. I hope we get really good by partisan
support for it. I'm a big fan of it, you know,
because when I met Jonathan Hate back in twenty seventeen
or something, and I've seen the mobile phone man, Mike,
you know, cyber bullying is down. Kids attention, classrooms up.
(07:24):
We need to put guidelines on our kids' doing.
Speaker 1 (07:27):
There's a whole bunch of countries already beating you to it.
Speaker 2 (07:29):
No, no, no, there's only Australia that's gone off and
actually got it in law and actually got it functioning now.
And it's realty from the beginning of this year. We're
coming from different starting points, but we're oftenly going to
get to the same place.
Speaker 1 (07:39):
So when it serves on Friday, it's on whole. It's
not on hold.
Speaker 2 (07:41):
No, there's two bits of work going on. You remember Catherine,
we'd had a member's bill and that was actually that's
all she asked for. Can you just postpone it and
push it down what's called the order paper, Because we've
got a more comprehensive government piece of work underway, that's
on track, that's on time, so that's.
Speaker 1 (07:55):
The bit that's coming forward, not Catherine's, but which.
Speaker 2 (07:57):
Is correct because it's properly done as government bill rather
than a member's bill. But we need to do that.
Parents want us to do that, Princes want us to
do the kids old and you want us to do it.
Speaker 1 (08:06):
Why haven't you bought the b in Z.
Speaker 2 (08:12):
Because I don't have a spere thirty billion dollars hanging
around in a bank account and I don't really want
to go borrow another thirty billion dollars.
Speaker 1 (08:19):
So that sounds like a Labor Party policy or policy.
How is it You're in government with the bloke who
wants to buy the bigon Z knowing for well, we're
not going to buy the bingion Z and we haven't
got the money. It's not even for safe, we ain't
buying the b Inza.
Speaker 2 (08:29):
I mean, this is unfortunate. It would be, isn't it.
It is completely fanciful. It's not happening. It doesn't make
any sense because yeah, for a government to go out
there borrow a heap of money, let's be clear how
we do it. You can call it sovereign bonds or
whatever the hell you want, but it's all still borrowing money.
It's just fancy words for borrowing more money to go
borrow thirty billion dollars for the government to buy a
(08:51):
private company to run. That just doesn't make any sense whatsoever.
Speaker 1 (08:55):
Does it worry you that that's put out there into
the election campaign and possibly people who believe that and
it will be part of the coalition negotiations post November, Well.
Speaker 2 (09:07):
I just have to be There's other things I'd soon
to be doing than borrowing thirty billion dollars and any money.
You know, we've got a debt challenge as it currently is,
and you know the Greens want to put forty four
billion on it. This would be a thirty billion dollar
add to it. It's just not feasible and I don't
understand why you'd want to do it. What we want
to do is make sure Kiwibank's more competitive and actually
(09:28):
my key Bank's the fastest grown bank in the country
and we just charge them with one remit, which is
your job is to aggressively grow and take the fight
to the Australian PA.
Speaker 1 (09:37):
And you think there's enough money out there in the
private sector to be interested in investing to expand, Yeah, Well, I.
Speaker 2 (09:43):
Mean at the moment because we made some changes to
the Reserve Bank capital rules, they don't need that five
hundred million that you and I talked about last year.
Speaker 1 (09:50):
But what we've also said.
Speaker 2 (09:52):
Is, you know, in the future, if you ever need
a capital, don't don't ever stop growing and taking the
fight to the banks, the Aussie banks, And if you
ever need a capital, that's something you know that you
should keep.
Speaker 1 (10:00):
And you don't if you don't think the broad idea
that Winston's perpetrating, despite the absurdity of the B and
Z aspect, is keeping stuff in our control. So you
don't think that us owning key We Bank and US
expanding it as opposed to the private sector expanding it
well or not.
Speaker 2 (10:16):
At the moment, Kei Bank don't need an injection to capital.
They're growing well. They've got enough flexibility with the recent
changes to say we're good with capital to be able.
I just don't want capital to be a constraint on
their ability to go aggressively compete with those Australian banks.
And that's all that that letter was saying. A we
expect you to aggressively grow, that your primary task is
to hurt the Australian banks to if you get a
(10:38):
growth strategy in place, we want to see it so
we know that you've got a plan. And then three
keep an eye that down the road in the future.
If there was ever a time when you felt you
couldn't deliver on that task of growth and compet competition.
Speaker 1 (10:48):
Let us not. Let us know, all right, appreciate your time,
Prime Minister Christopher Lackxon. For more from the Mic Asking Breakfast,
listen live to news talks that'd be from six am weekdays,
or follow the podcast on ihard Ready Out
It's Monday morning. The Prime Minister is in the studio
Chrystal b Lux and good morning to you. Mike. How
I go to the end, I'm very well the announcement
coming today, I'm sure you don't want to preview it
too much of the primary the resources, the classrooms and stuff.
Does that come? Is there money attached to this, because
at two point one billion you don't have much left.
Speaker 2 (00:17):
Yeah, Look, it's part of our pre budget announcements on education.
We've actually done a very good job of finding wasteful
money and actually redeploying it. You know, if you think
about the cost of those classrooms at one point two
million dollars when we started, we've got that down to
six hundred thousand. That means you've got more money. So
there's been quite a good program of work actually in
education about identifying back off for savings and then getting
(00:37):
it forward deployed into the teachers.
Speaker 1 (00:40):
So what do we get today, Is it literally more resource?
Speaker 2 (00:42):
Yeah, well we'll talk about that later on this afternoon.
You would have seen this morning. You know, we've had
some good encouraging, initially encouraging results on our maths program.
We've put a whole new structured mathematics program in place
in the last year and a half that's more like
a Singaporean or Australian approach to teaching maths. Teachers have
done an amazing job actually getting that into classrooms and
(01:04):
our kids seem to be responding to it pretty well,
which is good.
Speaker 1 (01:06):
The social cohesion thing that you talked about it you
speak to last week, what is that about when it
comes to immigrant.
Speaker 2 (01:12):
It's just essentially saying look as well, Actually, I was
trying to say something a bit broader than there's been some.
Speaker 1 (01:18):
Momentarily like Winston had got to you.
Speaker 2 (01:20):
There is the opposite of what I'm trying to say
very clearly in you and I've had this chat before,
is Look, if you think about social cohesion, we take
it for granted that there's going to be social trust
and social cohesion in New Zealand to each other and
with our institutions around the world. It's a major problem
and there's actually some rising pressures on it here in
New Zealand as well. I think if you're going to
be driving broad national security and making His Zealand stronger
(01:41):
and more secure, you need need that to be in
good shape. The point I was trying to make was Look,
our immigration system is amooks have done an amazing job.
They shouldn't be vilified to come here. They work damn hard,
they do an incredible job. But the reason it works
in New Zealand is because we've got a smart, targeted
and fair immigration system. And I think there's a bit
of anti immigration sort of cosplay going on where some
politicians are pretending to be Trump or Farage or the
(02:02):
pen because we don't have those uncontrolled well, I think, yeah,
for exactly, we don't have uncontrolled or illegal immigration in
this country. I lived in the US for eight years.
There's thirteen to fourteen million illegal immigrants inside the US today.
In the UK, you know, they get about one hundred
and fifteen people a day coming over illegally in small
(02:23):
boats alone. There's probably a million folk inside the UK
that they think are illegal. Go look at Germany. They
had a million asylum seekers coming in a single year,
So we haven't had that problem of illegal and uncontrolled migration. Equally,
look at Canada. They failed to link their immigration policy
to their economic story and ultimately to their infrastructure capacity,
(02:43):
and they've had to revisit all of their settings as well,
we have tightened up our settings. Over the last two years.
We've gone from when we started one hundred and thirty
thousand net migration now to twenty five thousand. We've gone
from seventy percent low skill to seventy percent high skilled.
And all I signaling was we're going to continue to
make sure that's has integrity by being.
Speaker 1 (03:03):
Well, we got the numbers last week is twenty five
thousand ish net gain about right.
Speaker 2 (03:07):
It's been about thirty one thousand average from two thousand
and two to twenty twenty five from memory, So we're
getting it's about right because it's you know, that's the
sort of in that vicinity. We can handle that. And
everything's linked to our green list of where we've got
job shortages. And that's why I've reacted so strongly to
the Indian FTA claims about you know, it's just a
massive immigration companies. Now that's not true. Even so, if
(03:30):
you're going to have a conversation immigration, get bounded on
the facts and know exactly what we have.
Speaker 1 (03:35):
Even if you listened to Winston, which I did yesterday
in a speech, even if everything he says is true
in terms of the people coming in from the It
doesn't strike me as a problem. It's ten to twenty
thousand people on, which is not the end of the field.
Speaker 2 (03:46):
Look at Canada, which previously had an immigration policy, but
in the last you know, probably six seven years, lost
the plot on it, didn't keep it linked to its
economic challenge. That's when you lose it. And that's at
twenty five thousand net migration, and with average thirty one thousand,
that's been about right. We can build the houses, we
can actually make sure that we've got the vacancies that
(04:07):
we have in the economy field, while also knowing we've
got to get our people off unemployment, out of welfare
and to work as well. So you know, I think
we've done a very good job of balancing all of that.
And as I keep saying, we've got a smart, fear
targeted system.
Speaker 1 (04:20):
The White Tangy Tribunal came out with yet another one
of their reports on treaty clauses. This is with education.
You'll I'm assuming going to do nothing with it on
education Treaty causes within the education system and the adherence
to the treaty within education.
Speaker 2 (04:38):
Oh look, honestly, I'm over that conversation. You know, our schools, fine,
and they need to be five any of you paying
for them? Well, the White Tanga Tribunal, Yeah, well why.
Speaker 1 (04:47):
Why are you paying for them to come out with
yet more of this that you're going to go, oh,
I'm over this. Well, they're entitled to come out with
their views. Yeah, yeah, said, but you're funding them.
Speaker 2 (04:55):
We're not. We're not making schools. You know, say that
they've got a primary responsible don't one of the treaty?
Their primary response is get.
Speaker 1 (05:01):
Kids to school. Well, most people would agree with you.
And you continue to find the White Tankage Tribunal to
the tune of tens of millions of dollars a year
that you don't have to come out with stuff you
know you're going.
Speaker 2 (05:10):
Well, there is there is a bigger question, as I've
said before about the White Tangia Tribunal, which we'll have
to look at, which is actually what is its role
going forward? Whether you are pro the White Tangier Tribunal
or a get it. The reality is both sides would
say post treaty settlements which were increasingly get just breaking through,
what is the future of that?
Speaker 1 (05:27):
So I've asked you about this before and you sort
of this strikes me as something similar to the social
media reform, which struck me as you're not being overly
enthusiastic about it, just sort of can we talk about
that one? No, we can't. Well we can if you
are generalization, if you are, if you ask me properly.
On the White Tangage Tribunal, this seems to be one
of those things you're kicking down the road. What work
(05:48):
is it? Where's Tarmaar on this? He's been at this
for two years?
Speaker 2 (05:51):
Yeah? Look, I mean the White Tangi Tribunal has had
a role well established in New Zealand. Whether you like
it or don't know, that's been the role that it's
had for a long time. It started ready with treaty settlement,
some even bit before.
Speaker 1 (06:01):
But we're done.
Speaker 2 (06:01):
But well we're not completely done. We've got a few
we're getting we're getting almost done.
Speaker 1 (06:05):
Why aren't we more done? Because they're writing clauses about
what you're doing in education? You just write stuff to us.
I know that. But you're funding them to do this crap.
Speaker 2 (06:13):
Well yes, but I have to. But we've got a
responsibility given how they've been set up. And all I'm
saying to you is that we have to ask a
pretty big question. When we do it, we have to really.
Speaker 1 (06:22):
Why how has it taken you so long to ask
this pretty big question? How long does Talma needs to
ask the question?
Speaker 2 (06:29):
Well, here is working his way through it. It's important
that you know if we're going to make any changes
to the way tang in tribune and when it's remit
as I've as I've said from the beginning, when you're
closing out treaty settlements, you know you've got to question
what the role of the organization is going forward.
Speaker 1 (06:42):
Why are you getting stuck into this?
Speaker 2 (06:43):
Well, mate, there's been quite a lot to get stuck
into before we get to this issue.
Speaker 1 (06:46):
Because the social media thing's the same I said to you.
It struck you me from right from the start. You're
not gripped by this I am. I am because you've
looked all around the world and what you found is
it doesn't work. Disagree, complete it doesn't work. And if
it does work, why haven't you done what Australia does.
Denmark did no, no, no, no one else.
Speaker 2 (07:04):
Well, that's exactly what we are doing. We're bringing a
piece of legislation to the House before the election. We've
got a comprehensive piece of work with legislations being drafted
right now. I hope we get really good by partisan
support for it. I'm a big fan of it, you know,
because when I met Jonathan Hate back in twenty seventeen
or something, and I've seen the mobile phone man, Mike,
you know, cyber bullying is down. Kids attention, classrooms up.
(07:24):
We need to put guidelines on our kids' doing.
Speaker 1 (07:27):
There's a whole bunch of countries already beating you to it.
Speaker 2 (07:29):
No, no, no, there's only Australia that's gone off and
actually got it in law and actually got it functioning now.
And it's realty from the beginning of this year. We're
coming from different starting points, but we're oftenly going to
get to the same place.
Speaker 1 (07:39):
So when it serves on Friday, it's on whole. It's
not on hold.
Speaker 2 (07:41):
No, there's two bits of work going on. You remember Catherine,
we'd had a member's bill and that was actually that's
all she asked for. Can you just postpone it and
push it down what's called the order paper, Because we've
got a more comprehensive government piece of work underway, that's
on track, that's on time, so that's.
Speaker 1 (07:55):
The bit that's coming forward, not Catherine's, but which.
Speaker 2 (07:57):
Is correct because it's properly done as government bill rather
than a member's bill. But we need to do that.
Parents want us to do that, Princes want us to
do the kids old and you want us to do it.
Speaker 1 (08:06):
Why haven't you bought the b in Z.
Speaker 2 (08:12):
Because I don't have a spere thirty billion dollars hanging
around in a bank account and I don't really want
to go borrow another thirty billion dollars.
Speaker 1 (08:19):
So that sounds like a Labor Party policy or policy.
How is it You're in government with the bloke who
wants to buy the bigon Z knowing for well, we're
not going to buy the bingion Z and we haven't
got the money. It's not even for safe, we ain't
buying the b Inza.
Speaker 2 (08:29):
I mean, this is unfortunate. It would be, isn't it.
It is completely fanciful. It's not happening. It doesn't make
any sense because yeah, for a government to go out
there borrow a heap of money, let's be clear how
we do it. You can call it sovereign bonds or
whatever the hell you want, but it's all still borrowing money.
It's just fancy words for borrowing more money to go
borrow thirty billion dollars for the government to buy a
(08:51):
private company to run. That just doesn't make any sense whatsoever.
Speaker 1 (08:55):
Does it worry you that that's put out there into
the election campaign and possibly people who believe that and
it will be part of the coalition negotiations post November, Well.
Speaker 2 (09:07):
I just have to be There's other things I'd soon
to be doing than borrowing thirty billion dollars and any money.
You know, we've got a debt challenge as it currently is,
and you know the Greens want to put forty four
billion on it. This would be a thirty billion dollar
add to it. It's just not feasible and I don't
understand why you'd want to do it. What we want
to do is make sure Kiwibank's more competitive and actually
(09:28):
my key Bank's the fastest grown bank in the country
and we just charge them with one remit, which is
your job is to aggressively grow and take the fight
to the Australian PA.
Speaker 1 (09:37):
And you think there's enough money out there in the
private sector to be interested in investing to expand, Yeah, Well, I.
Speaker 2 (09:43):
Mean at the moment because we made some changes to
the Reserve Bank capital rules, they don't need that five
hundred million that you and I talked about last year.
Speaker 1 (09:50):
But what we've also said.
Speaker 2 (09:52):
Is, you know, in the future, if you ever need
a capital, don't don't ever stop growing and taking the
fight to the banks, the Aussie banks, And if you
ever need a capital, that's something you know that you
should keep.
Speaker 1 (10:00):
And you don't if you don't think the broad idea
that Winston's perpetrating, despite the absurdity of the B and
Z aspect, is keeping stuff in our control. So you
don't think that us owning key We Bank and US
expanding it as opposed to the private sector expanding it
well or not.
Speaker 2 (10:16):
At the moment, Kei Bank don't need an injection to capital.
They're growing well. They've got enough flexibility with the recent
changes to say we're good with capital to be able.
I just don't want capital to be a constraint on
their ability to go aggressively compete with those Australian banks.
And that's all that that letter was saying. A we
expect you to aggressively grow, that your primary task is
to hurt the Australian banks to if you get a
(10:38):
growth strategy in place, we want to see it so
we know that you've got a plan. And then three
keep an eye that down the road in the future.
If there was ever a time when you felt you
couldn't deliver on that task of growth and compet competition.
Speaker 1 (10:48):
Let us not. Let us know, all right, appreciate your time,
Prime Minister Christopher Lackxon. For more from the Mic Asking Breakfast,
listen live to news talks that'd be from six am weekdays,
or follow the podcast on ihard Ready Out
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