November 25, 2024 • 11 mins
Prime Minister Christopher Luxon says the “more tax, more borrowing” of the last Labour Government hadn’t worked.
“The decision for New Zealand is really about getting this country growing,” he told Mike Hosking.
One of the areas they’ve been focusing on in order to do so has been education.
Luxon said he was unaware of schools not getting necessary maths resources, and disagrees with the teachers unions, who say the Government has rushed the new curriculum through.
“We got a set of results that said four out of five of our kids going into high school are not where they need to be. I’m sorry, we can sit around having consultation and kumbaya all year, but we actually need to make an intervention. We did that within a week.
“[Education Minister] Erica Stanford has done an exceptionally good job to make sure they’ve got the [resources] they need to teachers.”
He touched on how “abysmal” NCEA is, saying that whether you’re a parent or an employer or a teacher, it’s not working.
“And it’s no surprise when kids show up for third form and four out of five aren’t at the standard they need to be in maths,” Luxon said.
When it comes to the economy, he says there’s still “a lot of turbulence” to navigate before it gets better. He pointed to reductions in inflation as achievements.
“I think every quarter you’ll start to see growth improve. We’re still not out of the woods. The last thing that gets sorted is employment, and there’s a lag effect.
“We did it pretty tough. We had monetary policy where we were printing a lot of cash.”
Luxon confirmed there would be an announcement on the Cook Strait ferries by the end of the year.
“We’ve made a commitment; we’ll talk about the ferries by the end of the year. We’re going to get a solution in place.
“There’s always ongoing conversations. You’ll know [the details] when you know.
“It’ll be rail compatible, as it is today. I can tell you it’ll be done a lot cheaper than $3.2 billion.”
He said there was no stoush between himself and David Seymour over the Waikato medical school plans.
“All respect, David’s not the Minister of Health, he’s the Minister for Regulation. He needs to focus on that,” he said.
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Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:00):
Being a Tuesday morning, the Prime Minister is Weathers. Very
good morning to you.
Speaker 2 (00:03):
What am I good to be with you?
Speaker 1 (00:04):
We've been talking, We had David Kunliff on the program
earlier on and Labor's going to vote this weekend on
whether they move forward with the CGT and then what
sort of shape or form you would be happy to
see an opposition party come to the election in twenty
twenty six espousing more tax, wouldn't you?
Speaker 3 (00:19):
Well, look, I mean we've just gone through six years
where we've seen more tax, more spending, more borrowing, and
it didn't work, and we're now dealing with all the
hang ups around inflation and interest rates and recession and
people losing their jobs. So you know, if Labor wants
to keep going back to that, well, you know, good
on them. But the reality is, you know, this is
a country where we need to actually we need more
capital in this country, not less, and we also need
(00:40):
to grow our way out of the recession, not actually
tax our way out of the recession. So you know,
that's why we oppose it. There's a lot more that
we need to be doing to get this country moving.
Speaker 1 (00:48):
Their argument is most people that which is true.
Speaker 3 (00:51):
Yeah, may well be, but I mean, you know that
horse has bolted. You know, the decision for New Zealand
is really around making sure we get this country growing.
And you know, we have seen what happened, you know, borrowing.
You know, we're now paying eight to nine to ten
billion dollars in interest rates because our borrowing went from
five to one hundred billion dollars, you know, and a
tax went up per see. Effectively, there was no tax
relief for working His Islanders for fourteen years, which we've delivered.
(01:13):
And you know, we just know tax anyway is not
the way to deal with it. You've got to grow
the pie, not just move the slices around.
Speaker 1 (01:18):
Okay, So this morning, the story is that some schools
will not be receiving their maths resources.
Speaker 2 (01:24):
Why I'm not aware of that.
Speaker 3 (01:27):
I know Eric is working really hard to make sure
everyone's got the maths resources.
Speaker 2 (01:30):
They need to. That's why well follow that up to
make sure that they do.
Speaker 1 (01:34):
But is there any reason why they wouldn't.
Speaker 3 (01:36):
I'm not aware of any issues. I don't know the
story to be honest.
Speaker 1 (01:39):
Okay, basically, the union are claiming that a bunch of
schools aren't going to get the resources, the hor You
got the cart in front of the horse. You've rushed this.
It's too fast and they're not ready.
Speaker 2 (01:47):
No, I disagree. Look, I mean we got.
Speaker 3 (01:49):
A set of results that said four out of five
of our kids going into high school and not where
they need to be.
Speaker 2 (01:53):
I'm sorry.
Speaker 3 (01:54):
We could sit around having consultation and comboy all year,
but we actually need to make an intervention. We did
that within a week. We've put forward a new maths curriculum,
pulled it forward by a year'll be ready to go
for January next year. Eric Is Stanford's on an exceptionally
good job making sure that they've got all the digital
tools and resources, support books, all that stuff that they're
going to need. We're supporting the teachers. The Teaching Council
came out which I thought was very good and said,
(02:15):
if you're going to be a teacher in New Zealand,
you've got to have six four maths year twelve. Maths
seems like a novel idea, but that because teachers confidence
to teach maths properly. So you know we have to
do this. Because you know, there's also a port out
today talking about NCAA right and how bysmal it is
and whether you a parent or an employer or a teacher,
it's not kind of working well, no surprise when kids
show up for the third form and they're doing you know,
(02:37):
four out of five can't aren't at the stand they
need to be on maths, one out of two an't
where they need to be on reading, and wonder they
lose interest in school. And it's pretty poor results for NCAA.
Speaker 1 (02:45):
Okay, so just for the record, then if people are
short of material for next year for the new maths curriculum,
that will be addressed.
Speaker 3 (02:52):
Yeah, I mean Erica, I know she's put a lot
of effort into making sure we've got the materials available
so that teachers can go. I know we're pushing hard,
but we need to push hard for the sake of
pearance and most importantly for our kids.
Speaker 1 (03:02):
Okay, are we missing something in the economy because when
the first cut's coming, tomorrown probably fifty points. When the
first cuts started getting announced, there might have been a
little bit of buzz around the place the worst was over.
But if you listen to what Dominic Stevens said the
other day from the Reserve Bank, things aren't firing what's
going wrong?
Speaker 3 (03:19):
Well, no, I mean I think you've got people who
have a bunch of ecloists. We have a bunch of
forecasts going forward, and I get all that, but you
know the reality is, yes, we've still got a lot
of turbulence to navigate. But I would just say to you, look,
you know, we've got inflation back in the band. We've
got you know what, hopefully we three interest rate cuts
after twelve interest rate rises. We've got confidence building that
now needs to translate into growth into jobs, and that's
(03:40):
really where we move from cost of living, you know,
with inflation, interest rates coming down and get sorted more.
Now it's all about how we grow and how we
move forward from here. We got forecast next year saying
we could be anywhere from you know, you know, two
to three percent.
Speaker 1 (03:52):
Who's saying that, I haven't. I've said one, I've got one,
You've got one of it here, I've got I've got
one from from the banks. They say three percent in
two twenty six.
Speaker 3 (04:00):
Yeah, Well, I mean building. But I mean I think
every quarter you'll start to see growth start to improve.
Speaker 1 (04:05):
But what I would say is also I also.
Speaker 3 (04:07):
Acknowledge that it will be bumpy. You know, we're still
not out of the woods. As you've got the you know,
essentially the rule of economics is if you spend lots,
you get inflation, you get interest rates. We get that
that put the economy into recession for the last three years.
We've got to haul it out of that now. And
then the last thing that gets sorted as employment. And
that's got quite a lag effect because if there are
a business that's hung in there through high cost and
high interest rates and suppressed demand, the last thing you're
(04:30):
doing is laying off workers.
Speaker 2 (04:31):
And that's what we've been seeing.
Speaker 1 (04:32):
Is it possible that we are so shell shocked that
the orthodoxy doesn't work? So, in other words, when Adrian
goes worst is over. Here are some cuts. We don't
believe it and it's not right Hents. We're not spending hints,
The mood isn't right, Hents. Things aren't moving the way
they should.
Speaker 2 (04:46):
No.
Speaker 3 (04:46):
I think, you know, those are immutable laws of economics
which we completely are lost that we learned thirty five
years ago in this generation of political leadership. Just thought,
if I keep spending, if I keep borrowing, if I
keep taxing, that's what I need to do, and that's
caused the mess that we're in. We were in this,
you know, there were lots of opportunities earlier. As I
said when I first became leader of the National Party,
(05:07):
there are amber lights on that dashboard. Start adjusting now,
because when you don't, you've got a lot of pain
and suffering coming at you.
Speaker 2 (05:12):
With employment.
Speaker 1 (05:12):
I don't want to go down a rabbit hole. But
as I look at the numbers, I mean, Q three's
almost certainly going to be negative. That's three recessions in
two years. You can't know me a country that's as
bad as that, can you?
Speaker 2 (05:21):
Well, we're coming out. We did it pretty tough, there's
no doubt about it.
Speaker 1 (05:25):
We did it tougher than anybody.
Speaker 3 (05:26):
Well, we had monetary policy where we were printing a
lot of cash, a lot of money.
Speaker 1 (05:31):
But the guy is delivering it tomorrow is the guy
who did it? Well, have you got it that wrong
going in? Is it possibly he's got it wrong going out?
Speaker 3 (05:37):
Well, I think he's got a partner with fiscal policy,
with a government that's actually saying we've got to get
these books in order and get some financial discipline into
the joint You and I have had tough conversations around
Dunedin Hospital and other other places. The reason we're being
disciplined about that stuff.
Speaker 2 (05:51):
Is for this very reason.
Speaker 3 (05:52):
Right, it's easy to say you'd like to spend more,
I'd like to borrow more, I'd like to tax more,
but that isn't the way forward.
Speaker 1 (05:57):
Peter sild the House last week that December thirteen is
the if not before that, you're going to announce the
fiery deal.
Speaker 2 (06:03):
We're going to make sure.
Speaker 3 (06:04):
Yeah, that'll that'll be a year since we've announced that
we were stopping i Rex, which was the old project,
and so we're working hard on.
Speaker 1 (06:10):
So an announcement's coming by December thirteen.
Speaker 3 (06:12):
Here's correct, insane, we get an announcement out by the
end of the year.
Speaker 1 (06:15):
So given it to the end of November and two
weeks time, you're not going to close the deal within
two weeks on something that large, you've clearly done the
deal already. Correct, Well, we'll.
Speaker 2 (06:22):
Have more to say about that, Mike.
Speaker 1 (06:23):
So I know I know you're to say answer. All
I'm saying is you clearly can't make a commitment.
Speaker 2 (06:29):
We're talking about the theories before the end of the
d the deal.
Speaker 1 (06:31):
The deal is clearly in place? Is that fair to
say that because you can't close a deal between now
and December thirteen, it's clearly in place.
Speaker 3 (06:38):
Well, all I'd say is that we are going to
get a solution in place. It's important we get a
good one in place, and we'll do that.
Speaker 1 (06:43):
Have you got it in place?
Speaker 2 (06:45):
We'll have more to say about it very shortly.
Speaker 1 (06:46):
No, just just humorous all to the extent. I don't
want to know the detail. I just want to know,
is there a deal? Has it been done? And you
will announce it by the.
Speaker 3 (06:55):
We will announce it for the end of the year.
And there's always ongoing conversation.
Speaker 1 (06:59):
So is it's still live?
Speaker 3 (07:01):
I just say to you it's coming, Mike. That's why
I just tell you it'll be fine. You'll you'll know
when you know.
Speaker 1 (07:06):
Has it got some rails involved?
Speaker 2 (07:08):
You'll know.
Speaker 1 (07:08):
Can you get a train on and off?
Speaker 3 (07:10):
You definitely can. Well you can't get you can get it, well,
you can get. You can get it's rail. It'll be
rail compatible. Put it that way, not rail and able.
It'll be rail compatible. But as it is today, yeah, okay,
very well.
Speaker 1 (07:21):
Will it require a lot of infrastructure?
Speaker 3 (07:24):
I can tell you it's going to be done a
lot cheaper than three point two billion dollars?
Speaker 1 (07:26):
Is it three or four hundred million dollars?
Speaker 2 (07:28):
Again, Mike, we'll have to wait and say.
Speaker 1 (07:30):
Will in the December of the thirteenth question these a
good question. Well, I've got a text already saying, hey, Mike,
how about it being a bit nicer to the Prime minister?
So that's gone out the door.
Speaker 2 (07:39):
How about being nicer to the problem.
Speaker 1 (07:40):
How about being nice is the Prime minister? So by
December thirteen, will we know the exit cost of cancelation.
Speaker 3 (07:47):
We will have a full announcement, as we've committed to
by the end of the year.
Speaker 1 (07:50):
But it will be here's here's what we're doing going forward,
plus here's what it costs.
Speaker 3 (07:54):
You have to just wait and see. Mike, I'm so sorry,
but odes is the.
Speaker 1 (07:57):
Re stoush building between you and David teamore But why
Katto in the medical school?
Speaker 3 (08:01):
No, Look, I mean we've got we're in the stage
of wanting a detailed business case for that. It's important
it gets a really good commercial appraisal and run over.
But all respect David sem was not the Minister of Health.
He's the Minister of regulation. He needs to focus on that.
Shane Ready's the Minister of Health and are.
Speaker 1 (08:17):
You hung up on why Katta or could you expand
by Otiger?
Speaker 3 (08:20):
Well, we've always said we're subject to a commercial appraisal
and we've done an initial business case. We want a
detailed business case.
Speaker 1 (08:26):
You're happy with the initial business case because that was
Seymour's problem he said the cost per students too high? Yeah,
we look.
Speaker 3 (08:32):
I mean again, no disrespect. I mean David's the Minister
of Regulation. They ain't the Minister of health. And so
Shane Ready is leading us through that process. We're making
sure there's good commercial appraisal over it. We understand you know,
it's a big investment and like everything, we want to
make sure we've got more rigorous, robust business cases. And
that's been part of the problem and what we've seen
and what we've inherited. So we'll work our way through
that and we'll come to a conclusion once we see
(08:53):
those numbers.
Speaker 1 (08:53):
And talk to me about August. Has anything happened on
August since what we've been involved for about three or
four years now? You keep saying, oh, we're looking at it,
how long you look it?
Speaker 3 (09:00):
I have to say it's going slowly and because you've
got you know, you've had change of leadership in the
August countries themselves, I suspect, but our officials are still
continuing to talk.
Speaker 1 (09:09):
So is it live still in the way it has
been live? Or has Trump changed everything?
Speaker 3 (09:14):
No, No, that that hasn't been the change. What it
has been is just you know, acknowledging that you've probably
you know with Ko Starmer and Anthony Albaniz you have
a change of leadership at the UK of the Australian end.
But more importantly you know that it's been slove and
it always was going to be, you know, and there's
no real change.
Speaker 1 (09:28):
From the slower the view to what will know more
when this year, next week, the year after.
Speaker 3 (09:33):
We're sort of moving at the pace that August countries
want to be able to work with and they've got obviously, well.
Speaker 1 (09:38):
The last was Canada wanted something tangible done by the
time he left office, which is January.
Speaker 3 (09:44):
Yeah, well that's not happening. And so you know you've
got claims in there from also Canada and also I
think from Japan and New Zealand, and so you know,
we're working it through with those officials.
Speaker 2 (09:56):
But no real change from what.
Speaker 1 (09:57):
Okay, super quick the the COP thing with this carbon
trading that Simon was involved with there in some big
international market. Given we're so useless at trading carbon here
and our auctions don't work, is this international model going
to be any different?
Speaker 2 (10:11):
Yeah.
Speaker 3 (10:12):
Look, I think he's actually done a really good job.
He's worked with the Singaporeans have actually done you know,
we tend to do as interesting. You say that because
as meaning with the Singaporean Prime Minister and Apek again,
I've PROMI met with them four or five times this year.
And actually there's a lot that New Zealand and Singapore
want to do together more and often. We are the
guys that started CPTPP for example, we've done a whole
(10:32):
bunch of stuff and free trade and as small countries,
I think we can model this out, but there is
actually a need for us to get carbon markets working better.
Simon Watts is doing a great job. It's probably the
one thing of COP that I could see that sort
of came through pretty cleanly and articulately. And he's got
a finance background and increasingly climate change is an economic portfolio,
not just an environmental thing, and so he's all over that,
(10:55):
and I think you'll do very well.
Speaker 1 (10:56):
All right, good to see Chris Reluxen. For more from
the Mic Asking Breakfast, listen live to News Talk Set
B from six am weekdays, or follow the podcast on iHeartRadio.
Being a Tuesday morning, the Prime Minister is Weathers. Very
good morning to you.
Speaker 2 (00:03):
What am I good to be with you?
Speaker 1 (00:04):
We've been talking, We had David Kunliff on the program
earlier on and Labor's going to vote this weekend on
whether they move forward with the CGT and then what
sort of shape or form you would be happy to
see an opposition party come to the election in twenty
twenty six espousing more tax, wouldn't you?
Speaker 3 (00:19):
Well, look, I mean we've just gone through six years
where we've seen more tax, more spending, more borrowing, and
it didn't work, and we're now dealing with all the
hang ups around inflation and interest rates and recession and
people losing their jobs. So you know, if Labor wants
to keep going back to that, well, you know, good
on them. But the reality is, you know, this is
a country where we need to actually we need more
capital in this country, not less, and we also need
(00:40):
to grow our way out of the recession, not actually
tax our way out of the recession. So you know,
that's why we oppose it. There's a lot more that
we need to be doing to get this country moving.
Speaker 1 (00:48):
Their argument is most people that which is true.
Speaker 3 (00:51):
Yeah, may well be, but I mean, you know that
horse has bolted. You know, the decision for New Zealand
is really around making sure we get this country growing.
And you know, we have seen what happened, you know, borrowing.
You know, we're now paying eight to nine to ten
billion dollars in interest rates because our borrowing went from
five to one hundred billion dollars, you know, and a
tax went up per see. Effectively, there was no tax
relief for working His Islanders for fourteen years, which we've delivered.
(01:13):
And you know, we just know tax anyway is not
the way to deal with it. You've got to grow
the pie, not just move the slices around.
Speaker 1 (01:18):
Okay, So this morning, the story is that some schools
will not be receiving their maths resources.
Speaker 2 (01:24):
Why I'm not aware of that.
Speaker 3 (01:27):
I know Eric is working really hard to make sure
everyone's got the maths resources.
Speaker 2 (01:30):
They need to. That's why well follow that up to
make sure that they do.
Speaker 1 (01:34):
But is there any reason why they wouldn't.
Speaker 3 (01:36):
I'm not aware of any issues. I don't know the
story to be honest.
Speaker 1 (01:39):
Okay, basically, the union are claiming that a bunch of
schools aren't going to get the resources, the hor You
got the cart in front of the horse. You've rushed this.
It's too fast and they're not ready.
Speaker 2 (01:47):
No, I disagree. Look, I mean we got.
Speaker 3 (01:49):
A set of results that said four out of five
of our kids going into high school and not where
they need to be.
Speaker 2 (01:53):
I'm sorry.
Speaker 3 (01:54):
We could sit around having consultation and comboy all year,
but we actually need to make an intervention. We did
that within a week. We've put forward a new maths curriculum,
pulled it forward by a year'll be ready to go
for January next year. Eric Is Stanford's on an exceptionally
good job making sure that they've got all the digital
tools and resources, support books, all that stuff that they're
going to need. We're supporting the teachers. The Teaching Council
came out which I thought was very good and said,
(02:15):
if you're going to be a teacher in New Zealand,
you've got to have six four maths year twelve. Maths
seems like a novel idea, but that because teachers confidence
to teach maths properly. So you know we have to
do this. Because you know, there's also a port out
today talking about NCAA right and how bysmal it is
and whether you a parent or an employer or a teacher,
it's not kind of working well, no surprise when kids
show up for the third form and they're doing you know,
(02:37):
four out of five can't aren't at the stand they
need to be on maths, one out of two an't
where they need to be on reading, and wonder they
lose interest in school. And it's pretty poor results for NCAA.
Speaker 1 (02:45):
Okay, so just for the record, then if people are
short of material for next year for the new maths curriculum,
that will be addressed.
Speaker 3 (02:52):
Yeah, I mean Erica, I know she's put a lot
of effort into making sure we've got the materials available
so that teachers can go. I know we're pushing hard,
but we need to push hard for the sake of
pearance and most importantly for our kids.
Speaker 1 (03:02):
Okay, are we missing something in the economy because when
the first cut's coming, tomorrown probably fifty points. When the
first cuts started getting announced, there might have been a
little bit of buzz around the place the worst was over.
But if you listen to what Dominic Stevens said the
other day from the Reserve Bank, things aren't firing what's
going wrong?
Speaker 3 (03:19):
Well, no, I mean I think you've got people who
have a bunch of ecloists. We have a bunch of
forecasts going forward, and I get all that, but you
know the reality is, yes, we've still got a lot
of turbulence to navigate. But I would just say to you, look,
you know, we've got inflation back in the band. We've
got you know what, hopefully we three interest rate cuts
after twelve interest rate rises. We've got confidence building that
now needs to translate into growth into jobs, and that's
(03:40):
really where we move from cost of living, you know,
with inflation, interest rates coming down and get sorted more.
Now it's all about how we grow and how we
move forward from here. We got forecast next year saying
we could be anywhere from you know, you know, two
to three percent.
Speaker 1 (03:52):
Who's saying that, I haven't. I've said one, I've got one,
You've got one of it here, I've got I've got
one from from the banks. They say three percent in
two twenty six.
Speaker 3 (04:00):
Yeah, Well, I mean building. But I mean I think
every quarter you'll start to see growth start to improve.
Speaker 1 (04:05):
But what I would say is also I also.
Speaker 3 (04:07):
Acknowledge that it will be bumpy. You know, we're still
not out of the woods. As you've got the you know,
essentially the rule of economics is if you spend lots,
you get inflation, you get interest rates. We get that
that put the economy into recession for the last three years.
We've got to haul it out of that now. And
then the last thing that gets sorted as employment. And
that's got quite a lag effect because if there are
a business that's hung in there through high cost and
high interest rates and suppressed demand, the last thing you're
(04:30):
doing is laying off workers.
Speaker 2 (04:31):
And that's what we've been seeing.
Speaker 1 (04:32):
Is it possible that we are so shell shocked that
the orthodoxy doesn't work? So, in other words, when Adrian
goes worst is over. Here are some cuts. We don't
believe it and it's not right Hents. We're not spending hints,
The mood isn't right, Hents. Things aren't moving the way
they should.
Speaker 2 (04:46):
No.
Speaker 3 (04:46):
I think, you know, those are immutable laws of economics
which we completely are lost that we learned thirty five
years ago in this generation of political leadership. Just thought,
if I keep spending, if I keep borrowing, if I
keep taxing, that's what I need to do, and that's
caused the mess that we're in. We were in this,
you know, there were lots of opportunities earlier. As I
said when I first became leader of the National Party,
(05:07):
there are amber lights on that dashboard. Start adjusting now,
because when you don't, you've got a lot of pain
and suffering coming at you.
Speaker 2 (05:12):
With employment.
Speaker 1 (05:12):
I don't want to go down a rabbit hole. But
as I look at the numbers, I mean, Q three's
almost certainly going to be negative. That's three recessions in
two years. You can't know me a country that's as
bad as that, can you?
Speaker 2 (05:21):
Well, we're coming out. We did it pretty tough, there's
no doubt about it.
Speaker 1 (05:25):
We did it tougher than anybody.
Speaker 3 (05:26):
Well, we had monetary policy where we were printing a
lot of cash, a lot of money.
Speaker 1 (05:31):
But the guy is delivering it tomorrow is the guy
who did it? Well, have you got it that wrong
going in? Is it possibly he's got it wrong going out?
Speaker 3 (05:37):
Well, I think he's got a partner with fiscal policy,
with a government that's actually saying we've got to get
these books in order and get some financial discipline into
the joint You and I have had tough conversations around
Dunedin Hospital and other other places. The reason we're being
disciplined about that stuff.
Speaker 2 (05:51):
Is for this very reason.
Speaker 3 (05:52):
Right, it's easy to say you'd like to spend more,
I'd like to borrow more, I'd like to tax more,
but that isn't the way forward.
Speaker 1 (05:57):
Peter sild the House last week that December thirteen is
the if not before that, you're going to announce the
fiery deal.
Speaker 2 (06:03):
We're going to make sure.
Speaker 3 (06:04):
Yeah, that'll that'll be a year since we've announced that
we were stopping i Rex, which was the old project,
and so we're working hard on.
Speaker 1 (06:10):
So an announcement's coming by December thirteen.
Speaker 3 (06:12):
Here's correct, insane, we get an announcement out by the
end of the year.
Speaker 1 (06:15):
So given it to the end of November and two
weeks time, you're not going to close the deal within
two weeks on something that large, you've clearly done the
deal already. Correct, Well, we'll.
Speaker 2 (06:22):
Have more to say about that, Mike.
Speaker 1 (06:23):
So I know I know you're to say answer. All
I'm saying is you clearly can't make a commitment.
Speaker 2 (06:29):
We're talking about the theories before the end of the
d the deal.
Speaker 1 (06:31):
The deal is clearly in place? Is that fair to
say that because you can't close a deal between now
and December thirteen, it's clearly in place.
Speaker 3 (06:38):
Well, all I'd say is that we are going to
get a solution in place. It's important we get a
good one in place, and we'll do that.
Speaker 1 (06:43):
Have you got it in place?
Speaker 2 (06:45):
We'll have more to say about it very shortly.
Speaker 1 (06:46):
No, just just humorous all to the extent. I don't
want to know the detail. I just want to know,
is there a deal? Has it been done? And you
will announce it by the.
Speaker 3 (06:55):
We will announce it for the end of the year.
And there's always ongoing conversation.
Speaker 1 (06:59):
So is it's still live?
Speaker 3 (07:01):
I just say to you it's coming, Mike. That's why
I just tell you it'll be fine. You'll you'll know
when you know.
Speaker 1 (07:06):
Has it got some rails involved?
Speaker 2 (07:08):
You'll know.
Speaker 1 (07:08):
Can you get a train on and off?
Speaker 3 (07:10):
You definitely can. Well you can't get you can get it, well,
you can get. You can get it's rail. It'll be
rail compatible. Put it that way, not rail and able.
It'll be rail compatible. But as it is today, yeah, okay,
very well.
Speaker 1 (07:21):
Will it require a lot of infrastructure?
Speaker 3 (07:24):
I can tell you it's going to be done a
lot cheaper than three point two billion dollars?
Speaker 1 (07:26):
Is it three or four hundred million dollars?
Speaker 2 (07:28):
Again, Mike, we'll have to wait and say.
Speaker 1 (07:30):
Will in the December of the thirteenth question these a
good question. Well, I've got a text already saying, hey, Mike,
how about it being a bit nicer to the Prime minister?
So that's gone out the door.
Speaker 2 (07:39):
How about being nicer to the problem.
Speaker 1 (07:40):
How about being nice is the Prime minister? So by
December thirteen, will we know the exit cost of cancelation.
Speaker 3 (07:47):
We will have a full announcement, as we've committed to
by the end of the year.
Speaker 1 (07:50):
But it will be here's here's what we're doing going forward,
plus here's what it costs.
Speaker 3 (07:54):
You have to just wait and see. Mike, I'm so sorry,
but odes is the.
Speaker 1 (07:57):
Re stoush building between you and David teamore But why
Katto in the medical school?
Speaker 3 (08:01):
No, Look, I mean we've got we're in the stage
of wanting a detailed business case for that. It's important
it gets a really good commercial appraisal and run over.
But all respect David sem was not the Minister of Health.
He's the Minister of regulation. He needs to focus on that.
Shane Ready's the Minister of Health and are.
Speaker 1 (08:17):
You hung up on why Katta or could you expand
by Otiger?
Speaker 3 (08:20):
Well, we've always said we're subject to a commercial appraisal
and we've done an initial business case. We want a
detailed business case.
Speaker 1 (08:26):
You're happy with the initial business case because that was
Seymour's problem he said the cost per students too high? Yeah,
we look.
Speaker 3 (08:32):
I mean again, no disrespect. I mean David's the Minister
of Regulation. They ain't the Minister of health. And so
Shane Ready is leading us through that process. We're making
sure there's good commercial appraisal over it. We understand you know,
it's a big investment and like everything, we want to
make sure we've got more rigorous, robust business cases. And
that's been part of the problem and what we've seen
and what we've inherited. So we'll work our way through
that and we'll come to a conclusion once we see
(08:53):
those numbers.
Speaker 1 (08:53):
And talk to me about August. Has anything happened on
August since what we've been involved for about three or
four years now? You keep saying, oh, we're looking at it,
how long you look it?
Speaker 3 (09:00):
I have to say it's going slowly and because you've
got you know, you've had change of leadership in the
August countries themselves, I suspect, but our officials are still
continuing to talk.
Speaker 1 (09:09):
So is it live still in the way it has
been live? Or has Trump changed everything?
Speaker 3 (09:14):
No, No, that that hasn't been the change. What it
has been is just you know, acknowledging that you've probably
you know with Ko Starmer and Anthony Albaniz you have
a change of leadership at the UK of the Australian end.
But more importantly you know that it's been slove and
it always was going to be, you know, and there's
no real change.
Speaker 1 (09:28):
From the slower the view to what will know more
when this year, next week, the year after.
Speaker 3 (09:33):
We're sort of moving at the pace that August countries
want to be able to work with and they've got obviously, well.
Speaker 1 (09:38):
The last was Canada wanted something tangible done by the
time he left office, which is January.
Speaker 3 (09:44):
Yeah, well that's not happening. And so you know you've
got claims in there from also Canada and also I
think from Japan and New Zealand, and so you know,
we're working it through with those officials.
Speaker 2 (09:56):
But no real change from what.
Speaker 1 (09:57):
Okay, super quick the the COP thing with this carbon
trading that Simon was involved with there in some big
international market. Given we're so useless at trading carbon here
and our auctions don't work, is this international model going
to be any different?
Speaker 2 (10:11):
Yeah.
Speaker 3 (10:12):
Look, I think he's actually done a really good job.
He's worked with the Singaporeans have actually done you know,
we tend to do as interesting. You say that because
as meaning with the Singaporean Prime Minister and Apek again,
I've PROMI met with them four or five times this year.
And actually there's a lot that New Zealand and Singapore
want to do together more and often. We are the
guys that started CPTPP for example, we've done a whole
(10:32):
bunch of stuff and free trade and as small countries,
I think we can model this out, but there is
actually a need for us to get carbon markets working better.
Simon Watts is doing a great job. It's probably the
one thing of COP that I could see that sort
of came through pretty cleanly and articulately. And he's got
a finance background and increasingly climate change is an economic portfolio,
not just an environmental thing, and so he's all over that,
(10:55):
and I think you'll do very well.
Speaker 1 (10:56):
All right, good to see Chris Reluxen. For more from
the Mic Asking Breakfast, listen live to News Talk Set
B from six am weekdays, or follow the podcast on iHeartRadio.
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