The Prime Minister's open to corporate tax cuts in this year's budget.
Nicola Willis told Ryan Bridge on Newstalk ZB last night that our corporate tax system isn't competitive enough with other countries.
She confirmed the corporate tax rate, currently sitting at 28 percent, is being looked at as part of the whole business tax system.
Christopher Luxon confirmed with Mike Hosking they're willing to make changes, and there's a lot of possible options.
He says any announcement would be part of the May budget.
Luxon says lower tax rates are one way to encourage growth, as well as incentivising investment in things like technology.
Auckland’s Mayor Wayne Brown is urging the Government to ease the visa restrictions for Chinese tourists.
China has a policy that allows New Zealanders visa-free access if they’re visiting for less than 30 days – a policy Brown says we should be reciprocating.
Luxon says there are some challenges involved in powering up the number of Chinese tourists coming into the country.
He told Hosking that there are genuine immigration concerns to consider, and they need to ensure there’s a good policy in place.
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Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:00):
The Prime Minister this Tuesday morning. Very good morning to you,
just really quick if we can, because I've got bigger
fish to fry, the Kirabas thing between Peters and the
Prime Minister. The present prison says yesterday that that has
that been sorted or not.
Speaker 2 (00:13):
Look, I think it's Winston's dealing with it. I mean
he was making a point very clearly, which is we've
got to have engagement. We send a lot of aid
money there and you know we've got to be able
to meet with them. And he's done a great job.
He's met with fifty five different leaders in counterparts. We
want to meet with Carabas.
Speaker 1 (00:28):
But was this just simply a misunderstanding so the aid
will flow? There was a or are they playing silly buggers?
Speaker 2 (00:34):
I think genuinely. You know he had meetings set up.
I think they were canceled two or three times. And
we just want to make the point we need to beat.
You know, we make a big contribution to the Carabas.
We want to continue to do so, but that needs
we need to engage, right Unra.
Speaker 1 (00:47):
So there's a British Israelis on the phone to Kiyostama
over the weekend and she's been released. She says she
was kept in a UN headquarters facility while she was
a hostage. Now are we know you clearly don't know
about that, but we reviewed funding for that UN agency
last year. When you hear that, why are we funding
(01:07):
those people?
Speaker 2 (01:08):
Well, again, you know, we had an issue and a
concern earlier last year. If you remember, we talked about
I think six months before we made our one million
dollar payment by the end of thirtieth of June last year,
and we reassured ourselves after the investigation that actually it
was all legit and it wasn't.
Speaker 1 (01:23):
Are you reassured now when you well, I.
Speaker 2 (01:24):
Mean, I'm sure it's something that Winston will look out
again if there's any concerns there. But I mean, I
just don't want to go off reports that I haven't been.
Speaker 1 (01:30):
Speaking of Winston. So there was a business Desk story
this week. Months after the announcement, you still hadn't set
up the schedule whatever company to chase down some fairies. Remarkably,
Winston's put out a press release this morning just before
your appearance on this program, saying things are all he's
very good, credible, so he's off to buy the fair
so are you still setting up a company? How is
(01:53):
it so difficult to buy a couple of ships?
Speaker 2 (01:56):
Well, No, all that he's doing is based off the
time plan that we have. He's actually got some time
up until the end of March to look upon whether
there's a better way to improve the offer that we
put together at the end of last year. So that's
all he's doing with that press statement today is making
sure that he kicks off that process and then obviously
locks in on what they preferred. If he can improve
on what we put together as a cabinet at the
(02:17):
end of last year, great, If he can't, great because
we've got a good plan.
Speaker 1 (02:21):
I didn't ask you about this last week because I
didn't have time, But was the handing off from Nikola
Willis to Winston Peters as the newly fomed Minister of
Ships the worst moment of your tenure so far. You
took months to do nothing. Just before Christmas you announced
Winston's the Minister of Ships. I mean, what the hell's
that about?
Speaker 2 (02:40):
No, Look, I think you know, like Winston's got great
expertise in rail he knows it well, he's passionate about it.
He's the right person to leave all.
Speaker 1 (02:47):
Those months you were mucking around last year to the wharf.
Speaker 2 (02:52):
No, we were actually trying to get a grip on
what the situation was, and that's been a lot of
what the first twelve months was about. Whether it was
the need in hospital, where it was fairies, whether it
farmac drugs are funding. You know, there's a lot of
stuff we're trying to work out as we work our
way through those box as to what we're actually standing on.
And I think, yeah, I get it. You know, you
think it took too long, But at the end of
the day, we've got time. The fairies get replaced in
(03:13):
twenty twenty nine. Winston's got a window to improve on
the deal. If you can, great, If not.
Speaker 1 (03:18):
We if I watched, as I watched the KAENTUK, you
get toed back into port over the summer holidays. Yet again,
do you really have to twenty twenty nine or more
like twenty twenty six, we do. I just look like bollocks.
Speaker 2 (03:27):
Well no, I disagree they can. It's about maintenance and
I think here we rail like you get you know,
a transport company, a trucking company or an airline. You
can have assets and they need to be well maintained,
and you know, when we've seen some of the challenges,
you know, that's on key. We rail to make sure
that they're investing in the right way, keeping those assets
in tiptop condition and the repairs and maintenance are up
to scratch.
Speaker 1 (03:48):
The Ted Cruz thing over the weekend, has that been sorted?
Speaker 2 (03:50):
Yeah, I mean as you can see, you know, as
you know I met with Ted Cruz actually in July.
Speaker 1 (03:55):
We got on very well.
Speaker 2 (03:56):
But you know, they went off on some misinformation and
you know, very clearly Israelis can come to this country
without having under the visa waiver program, without actually having
to even apply.
Speaker 1 (04:06):
For a visa.
Speaker 2 (04:07):
The article where he reacted to, they have withdrawn on
their article, which is.
Speaker 1 (04:11):
Good, okay, Wayne Brown, And I assume he's correct in
saying this and talking about tourism and getting more people here.
The government should reciprocate China's policy of allowing New Zealand
as visa free access of visiting China for less than
thirty days. Do we not do that?
Speaker 2 (04:25):
Well, there are some challenges about how we can power
up the Chinese tourists.
Speaker 1 (04:30):
Why don't we just open the door and say welcome, Well.
Speaker 2 (04:32):
That's that's that's exactly what we're talking about that I've
got the digital momads going off. But that's also something
that Louise Upson and Nicola what us are looking at
right now at with Erica Stamford.
Speaker 1 (04:40):
Should they be looking at something a little bit faster?
Once again, are you caught short? I mean, why is
it I can go to China apparently visa free, and
they can't come here visa free. Why don't we reciprocate
and get on with this?
Speaker 2 (04:49):
Well, again, it's one of the where we're looking at
whatever we can to turn tourism them on fast because
it doesn't need any.
Speaker 1 (04:54):
Here that ru reciprocation. So Wayne Brown's actually onto this
willan Brown Tourism is better at tourism than the ministry.
Is that why you say? Matt Doocy?
Speaker 2 (05:02):
No, No, I just say to you that we are
looking at everything we can do. There's those issues, but
there's other issues that we can do in too.
Speaker 1 (05:08):
What are the problems, what are the whole what's the
hold up of reciprocating something that they already give us.
Speaker 2 (05:12):
There will be there'll be genuine immigration concerns. Well, just
to make sure the.
Speaker 1 (05:16):
I'm coming here for a seven day holiday.
Speaker 2 (05:18):
What's the sure But we've got to make sure that
that actually works well.
Speaker 1 (05:20):
And so you know how come they can do it
and we can't.
Speaker 2 (05:22):
Well, we're looking at it, I'm telling.
Speaker 1 (05:24):
You, But you're at eighty seven percent are of pre
and you've already articulated in your growth, growth, growth strategy.
One of the areas we need to move on is tourism.
Wayne Brown's doing the thinking.
Speaker 2 (05:33):
For and we're doing digital nomads, and we're also looking
at this, and we're looking at a bunch of other things.
Speaker 1 (05:38):
That's that's the word you're looking Why are you still
looking at not doing?
Speaker 2 (05:41):
Because you actually do need to actually make sure you've
got good policy in place.
Speaker 1 (05:43):
Are you worried about the Chinese? Is there's something there
that I don't know about.
Speaker 2 (05:46):
We're no, We're just making sure that we get our
immigration settings right and that we actually think through it.
Speaker 1 (05:51):
It's not immigration's tourism.
Speaker 2 (05:52):
It's tourism, but it's about visa settings and making sure
we just get that we're.
Speaker 1 (05:55):
Very open to Chinese. What is what's the problem? If
they do it for us, why can't we do it
for them today? Stroke of appearing executive Barder.
Speaker 2 (06:01):
Let's get on with this, and New Zealand needs to
make sure when it looks at visas and when it
looks at all those things, that it thinks through all
the consequences.
Speaker 1 (06:06):
Are we worried about that something there that you need
to tell me.
Speaker 2 (06:10):
We're looking at visas around international students. It's linked to that.
It's also linked to tourism. There's a whole bunch of
things we.
Speaker 1 (06:15):
Need to do. Okay, So Shane Jones, the Bank of
New Zealand, how is it possible that the Bank of
New Zealand wants to close down coal mines and writes
to them and says you can't have a card debit credit?
Think why?
Speaker 2 (06:29):
It's utterly unacceptable, utterly unacceptable. And that's what we've got
to change. And we've made it very clear in our
comments and I hope the bank CEOs are noticing our language,
which is you've got to finance things that Kiwis need
and not financing service stations or coal companies. Those are
things that New Zealand needs are going for big time.
And so whether it's been the Beans, heat on service
stations or any other other banks, their job is not
(06:51):
politically posturing. Their job is to finance the things that
Kiwis need.
Speaker 1 (06:54):
Have you told them that? I mean, apart from now,
we'll make.
Speaker 2 (06:57):
It very clear. We made it pretty clear of the
last week. And you know we've got a Select Committee
inquiry going on as you had. No that's about competition, sure,
but as we but on this particular issue, we're very
happy to call back in the chairs and CEOs discuss
this exact issue is can you.
Speaker 1 (07:10):
Under this or is Shane Jones going to have to
do something about that law?
Speaker 2 (07:13):
Well, I mean I think the banks need to realize
that actually the public of New Zealand want them to
give them a fair and better deal. They don't want
this political posturing going on. And actually, when you sit
there and you know we came out on the Ben's end,
you know they want to not fund service stations in
provincial New Zealand for example. Well, we've got two to
three percent electric vehicle penetration at the moment. It ain't
going to change in a hurry and frankly that's not
(07:35):
their decision exactly.
Speaker 1 (07:37):
So will you need to pass some sort of law.
Speaker 2 (07:40):
Well, we're open to looking at whatever we need to.
I personally think haul this, cheers and CEOs and ask
that specific question. Get them back in front of that
inquiry again.
Speaker 1 (07:47):
On although so we signed the Paris thing, Well.
Speaker 2 (07:50):
Again they their job is to finance the things that
New Zealanders need. These are legitimate businesses. Actually you cannot
if you don't want to finance a mining company. Well,
we need critical mineral to actually make the transition to
clean energy growth. Well, I don't know how much clearer
we can be, but we're sort of losing a lot
of patience as with the best parting it about it.
Speaker 1 (08:10):
Well, and why is Shane Jones leading this? Well, it's
a way that we all feel. We all feel very sore.
You're on locksteps. So at New Zealand first, and yeah, it's.
Speaker 2 (08:19):
Unacceptable, unacceptable that actually we've got banks making decisions not
to finance things that Kiwis desperately need.
Speaker 1 (08:24):
Right, so we can say now on this program because
they'll all be listening, it stops now.
Speaker 2 (08:29):
We want yep. And if the CEOs are hearing me
clearly right now, we are incredibly frustrated about it. It's
not right, go back and revisit your policies.
Speaker 1 (08:37):
On Okay, is acting right that we need to think
about getting out of Paris.
Speaker 2 (08:43):
No, because we're acting in New Zealand's national interests and
we want to grow the economy. And I'm telling you
now coming out of Paris is not the way you
grow the economy. That would just punish farmers. And you've
got to remember ten thousand dollars every man, woman, a
child in this country comes from agriculture. And I can
tell you right now, large multinational companies, competitive countries from
(09:04):
Europe would love to substitute New Zealand products on shelves
with European products and that ain't gonna happen. And so
you know, that's why we're acting briefally in New Zealand's
national in trists because we want to power up economic growth.
And I can tell you're coming out of Paris would
really hurt economic growth.
Speaker 1 (09:18):
The treasury stuff that's floating around this morning.
Speaker 2 (09:20):
That's why, sorry, Michael, that's why as a cabinet we
all agreed, all the parties in that cabinet agreed on this.
Speaker 1 (09:26):
Understood. Are you going to play with the corporate text
rates soon or not?
Speaker 2 (09:29):
Well, we're open to looking at all our tax settings
that encourage its growth. I'm not going to win this
budget and this budget. Yeah, so we could be talking
about corporate text cuts this budget. I'm not going to
talk about what those measures may be. So you're looking
at the tanks cut, we're looking at where we're open
to looking at taxation measures, and there's a range of
them that would actually incentivize and encourage growth. How can
you cut corporate I mean, good on you, well done,
(09:50):
get on with it. How can you cut corporate and
leave at thirty nine the top rate then, because you'll
have issues? Well, again, i'm not going to talk about
it as a theorytics of that theory. I'm not going
to talk about theory of it either.
Speaker 1 (10:00):
No theory, no idea.
Speaker 2 (10:01):
I mean, it's not fair going into a budget conversation
to be talking about our text politible discussion.
Speaker 1 (10:07):
How do you lower corporate while keeping the top rate
and the gap being too high?
Speaker 2 (10:11):
Well, the challenge we've got is how do you drive
more economic productivity?
Speaker 1 (10:14):
Yeah, couldn't agree more?
Speaker 2 (10:16):
Yeah, low tax rates one way, the.
Speaker 1 (10:19):
Investments and that's what I want to hear. Lower, lower
the top rate, lower the corporate get on with it again.
Speaker 2 (10:26):
We're looking at that, Well, we're looking at our text
settings as you heard heard Nicholas say yesterday as well.
Speaker 1 (10:30):
And will they be implemented as a what next year election?
You it's part of our budget this year, but to
go you don't do it instantly, You'll be doing it
for next year.
Speaker 2 (10:37):
But we want to be able to announce things at
the budget.
Speaker 1 (10:39):
So you're announce the budget to go into election.
Speaker 2 (10:41):
You with text cuts, we will I'm not there was
close enough enough. Will you fix that? What do we
want the text? We've opened to look at the texting.
But there's a range of things you could do that
would incentivize actual more growth and the actually what you
could you think about people investing in technology and adoption
of There's a whole bunch of things you could do
(11:02):
around Monka.
Speaker 1 (11:02):
Nice to talk to you. I appreciate Prime Minister Christopher Lexon.
For more from the Mic Asking Breakfast, listen live to
news talks. It'd be from six am weekdays, or follow
the podcast on iHeartRadio.
The Prime Minister this Tuesday morning. Very good morning to you,
just really quick if we can, because I've got bigger
fish to fry, the Kirabas thing between Peters and the
Prime Minister. The present prison says yesterday that that has
that been sorted or not.
Speaker 2 (00:13):
Look, I think it's Winston's dealing with it. I mean
he was making a point very clearly, which is we've
got to have engagement. We send a lot of aid
money there and you know we've got to be able
to meet with them. And he's done a great job.
He's met with fifty five different leaders in counterparts. We
want to meet with Carabas.
Speaker 1 (00:28):
But was this just simply a misunderstanding so the aid
will flow? There was a or are they playing silly buggers?
Speaker 2 (00:34):
I think genuinely. You know he had meetings set up.
I think they were canceled two or three times. And
we just want to make the point we need to beat.
You know, we make a big contribution to the Carabas.
We want to continue to do so, but that needs
we need to engage, right Unra.
Speaker 1 (00:47):
So there's a British Israelis on the phone to Kiyostama
over the weekend and she's been released. She says she
was kept in a UN headquarters facility while she was
a hostage. Now are we know you clearly don't know
about that, but we reviewed funding for that UN agency
last year. When you hear that, why are we funding
(01:07):
those people?
Speaker 2 (01:08):
Well, again, you know, we had an issue and a
concern earlier last year. If you remember, we talked about
I think six months before we made our one million
dollar payment by the end of thirtieth of June last year,
and we reassured ourselves after the investigation that actually it
was all legit and it wasn't.
Speaker 1 (01:23):
Are you reassured now when you well, I.
Speaker 2 (01:24):
Mean, I'm sure it's something that Winston will look out
again if there's any concerns there. But I mean, I
just don't want to go off reports that I haven't been.
Speaker 1 (01:30):
Speaking of Winston. So there was a business Desk story
this week. Months after the announcement, you still hadn't set
up the schedule whatever company to chase down some fairies. Remarkably,
Winston's put out a press release this morning just before
your appearance on this program, saying things are all he's
very good, credible, so he's off to buy the fair
so are you still setting up a company? How is
(01:53):
it so difficult to buy a couple of ships?
Speaker 2 (01:56):
Well, No, all that he's doing is based off the
time plan that we have. He's actually got some time
up until the end of March to look upon whether
there's a better way to improve the offer that we
put together at the end of last year. So that's
all he's doing with that press statement today is making
sure that he kicks off that process and then obviously
locks in on what they preferred. If he can improve
on what we put together as a cabinet at the
(02:17):
end of last year, great, If he can't, great because
we've got a good plan.
Speaker 1 (02:21):
I didn't ask you about this last week because I
didn't have time, But was the handing off from Nikola
Willis to Winston Peters as the newly fomed Minister of
Ships the worst moment of your tenure so far. You
took months to do nothing. Just before Christmas you announced
Winston's the Minister of Ships. I mean, what the hell's
that about?
Speaker 2 (02:40):
No, Look, I think you know, like Winston's got great
expertise in rail he knows it well, he's passionate about it.
He's the right person to leave all.
Speaker 1 (02:47):
Those months you were mucking around last year to the wharf.
Speaker 2 (02:52):
No, we were actually trying to get a grip on
what the situation was, and that's been a lot of
what the first twelve months was about. Whether it was
the need in hospital, where it was fairies, whether it
farmac drugs are funding. You know, there's a lot of
stuff we're trying to work out as we work our
way through those box as to what we're actually standing on.
And I think, yeah, I get it. You know, you
think it took too long, But at the end of
the day, we've got time. The fairies get replaced in
(03:13):
twenty twenty nine. Winston's got a window to improve on
the deal. If you can, great, If not.
Speaker 1 (03:18):
We if I watched, as I watched the KAENTUK, you
get toed back into port over the summer holidays. Yet again,
do you really have to twenty twenty nine or more
like twenty twenty six, we do. I just look like bollocks.
Speaker 2 (03:27):
Well no, I disagree they can. It's about maintenance and
I think here we rail like you get you know,
a transport company, a trucking company or an airline. You
can have assets and they need to be well maintained,
and you know, when we've seen some of the challenges,
you know, that's on key. We rail to make sure
that they're investing in the right way, keeping those assets
in tiptop condition and the repairs and maintenance are up
to scratch.
Speaker 1 (03:48):
The Ted Cruz thing over the weekend, has that been sorted?
Speaker 2 (03:50):
Yeah, I mean as you can see, you know, as
you know I met with Ted Cruz actually in July.
Speaker 1 (03:55):
We got on very well.
Speaker 2 (03:56):
But you know, they went off on some misinformation and
you know, very clearly Israelis can come to this country
without having under the visa waiver program, without actually having
to even apply.
Speaker 1 (04:06):
For a visa.
Speaker 2 (04:07):
The article where he reacted to, they have withdrawn on
their article, which is.
Speaker 1 (04:11):
Good, okay, Wayne Brown, And I assume he's correct in
saying this and talking about tourism and getting more people here.
The government should reciprocate China's policy of allowing New Zealand
as visa free access of visiting China for less than
thirty days. Do we not do that?
Speaker 2 (04:25):
Well, there are some challenges about how we can power
up the Chinese tourists.
Speaker 1 (04:30):
Why don't we just open the door and say welcome, Well.
Speaker 2 (04:32):
That's that's that's exactly what we're talking about that I've
got the digital momads going off. But that's also something
that Louise Upson and Nicola what us are looking at
right now at with Erica Stamford.
Speaker 1 (04:40):
Should they be looking at something a little bit faster?
Once again, are you caught short? I mean, why is
it I can go to China apparently visa free, and
they can't come here visa free. Why don't we reciprocate
and get on with this?
Speaker 2 (04:49):
Well, again, it's one of the where we're looking at
whatever we can to turn tourism them on fast because
it doesn't need any.
Speaker 1 (04:54):
Here that ru reciprocation. So Wayne Brown's actually onto this
willan Brown Tourism is better at tourism than the ministry.
Is that why you say? Matt Doocy?
Speaker 2 (05:02):
No, No, I just say to you that we are
looking at everything we can do. There's those issues, but
there's other issues that we can do in too.
Speaker 1 (05:08):
What are the problems, what are the whole what's the
hold up of reciprocating something that they already give us.
Speaker 2 (05:12):
There will be there'll be genuine immigration concerns. Well, just
to make sure the.
Speaker 1 (05:16):
I'm coming here for a seven day holiday.
Speaker 2 (05:18):
What's the sure But we've got to make sure that
that actually works well.
Speaker 1 (05:20):
And so you know how come they can do it
and we can't.
Speaker 2 (05:22):
Well, we're looking at it, I'm telling.
Speaker 1 (05:24):
You, But you're at eighty seven percent are of pre
and you've already articulated in your growth, growth, growth strategy.
One of the areas we need to move on is tourism.
Wayne Brown's doing the thinking.
Speaker 2 (05:33):
For and we're doing digital nomads, and we're also looking
at this, and we're looking at a bunch of other things.
Speaker 1 (05:38):
That's that's the word you're looking Why are you still
looking at not doing?
Speaker 2 (05:41):
Because you actually do need to actually make sure you've
got good policy in place.
Speaker 1 (05:43):
Are you worried about the Chinese? Is there's something there
that I don't know about.
Speaker 2 (05:46):
We're no, We're just making sure that we get our
immigration settings right and that we actually think through it.
Speaker 1 (05:51):
It's not immigration's tourism.
Speaker 2 (05:52):
It's tourism, but it's about visa settings and making sure
we just get that we're.
Speaker 1 (05:55):
Very open to Chinese. What is what's the problem? If
they do it for us, why can't we do it
for them today? Stroke of appearing executive Barder.
Speaker 2 (06:01):
Let's get on with this, and New Zealand needs to
make sure when it looks at visas and when it
looks at all those things, that it thinks through all
the consequences.
Speaker 1 (06:06):
Are we worried about that something there that you need
to tell me.
Speaker 2 (06:10):
We're looking at visas around international students. It's linked to that.
It's also linked to tourism. There's a whole bunch of
things we.
Speaker 1 (06:15):
Need to do. Okay, So Shane Jones, the Bank of
New Zealand, how is it possible that the Bank of
New Zealand wants to close down coal mines and writes
to them and says you can't have a card debit credit?
Think why?
Speaker 2 (06:29):
It's utterly unacceptable, utterly unacceptable. And that's what we've got
to change. And we've made it very clear in our
comments and I hope the bank CEOs are noticing our language,
which is you've got to finance things that Kiwis need
and not financing service stations or coal companies. Those are
things that New Zealand needs are going for big time.
And so whether it's been the Beans, heat on service
stations or any other other banks, their job is not
(06:51):
politically posturing. Their job is to finance the things that
Kiwis need.
Speaker 1 (06:54):
Have you told them that? I mean, apart from now,
we'll make.
Speaker 2 (06:57):
It very clear. We made it pretty clear of the
last week. And you know we've got a Select Committee
inquiry going on as you had. No that's about competition, sure,
but as we but on this particular issue, we're very
happy to call back in the chairs and CEOs discuss
this exact issue is can you.
Speaker 1 (07:10):
Under this or is Shane Jones going to have to
do something about that law?
Speaker 2 (07:13):
Well, I mean I think the banks need to realize
that actually the public of New Zealand want them to
give them a fair and better deal. They don't want
this political posturing going on. And actually, when you sit
there and you know we came out on the Ben's end,
you know they want to not fund service stations in
provincial New Zealand for example. Well, we've got two to
three percent electric vehicle penetration at the moment. It ain't
going to change in a hurry and frankly that's not
(07:35):
their decision exactly.
Speaker 1 (07:37):
So will you need to pass some sort of law.
Speaker 2 (07:40):
Well, we're open to looking at whatever we need to.
I personally think haul this, cheers and CEOs and ask
that specific question. Get them back in front of that
inquiry again.
Speaker 1 (07:47):
On although so we signed the Paris thing, Well.
Speaker 2 (07:50):
Again they their job is to finance the things that
New Zealanders need. These are legitimate businesses. Actually you cannot
if you don't want to finance a mining company. Well,
we need critical mineral to actually make the transition to
clean energy growth. Well, I don't know how much clearer
we can be, but we're sort of losing a lot
of patience as with the best parting it about it.
Speaker 1 (08:10):
Well, and why is Shane Jones leading this? Well, it's
a way that we all feel. We all feel very sore.
You're on locksteps. So at New Zealand first, and yeah, it's.
Speaker 2 (08:19):
Unacceptable, unacceptable that actually we've got banks making decisions not
to finance things that Kiwis desperately need.
Speaker 1 (08:24):
Right, so we can say now on this program because
they'll all be listening, it stops now.
Speaker 2 (08:29):
We want yep. And if the CEOs are hearing me
clearly right now, we are incredibly frustrated about it. It's
not right, go back and revisit your policies.
Speaker 1 (08:37):
On Okay, is acting right that we need to think
about getting out of Paris.
Speaker 2 (08:43):
No, because we're acting in New Zealand's national interests and
we want to grow the economy. And I'm telling you
now coming out of Paris is not the way you
grow the economy. That would just punish farmers. And you've
got to remember ten thousand dollars every man, woman, a
child in this country comes from agriculture. And I can
tell you right now, large multinational companies, competitive countries from
(09:04):
Europe would love to substitute New Zealand products on shelves
with European products and that ain't gonna happen. And so
you know, that's why we're acting briefally in New Zealand's
national in trists because we want to power up economic growth.
And I can tell you're coming out of Paris would
really hurt economic growth.
Speaker 1 (09:18):
The treasury stuff that's floating around this morning.
Speaker 2 (09:20):
That's why, sorry, Michael, that's why as a cabinet we
all agreed, all the parties in that cabinet agreed on this.
Speaker 1 (09:26):
Understood. Are you going to play with the corporate text
rates soon or not?
Speaker 2 (09:29):
Well, we're open to looking at all our tax settings
that encourage its growth. I'm not going to win this
budget and this budget. Yeah, so we could be talking
about corporate text cuts this budget. I'm not going to
talk about what those measures may be. So you're looking
at the tanks cut, we're looking at where we're open
to looking at taxation measures, and there's a range of
them that would actually incentivize and encourage growth. How can
you cut corporate I mean, good on you, well done,
(09:50):
get on with it. How can you cut corporate and
leave at thirty nine the top rate then, because you'll
have issues? Well, again, i'm not going to talk about
it as a theorytics of that theory. I'm not going
to talk about theory of it either.
Speaker 1 (10:00):
No theory, no idea.
Speaker 2 (10:01):
I mean, it's not fair going into a budget conversation
to be talking about our text politible discussion.
Speaker 1 (10:07):
How do you lower corporate while keeping the top rate
and the gap being too high?
Speaker 2 (10:11):
Well, the challenge we've got is how do you drive
more economic productivity?
Speaker 1 (10:14):
Yeah, couldn't agree more?
Speaker 2 (10:16):
Yeah, low tax rates one way, the.
Speaker 1 (10:19):
Investments and that's what I want to hear. Lower, lower
the top rate, lower the corporate get on with it again.
Speaker 2 (10:26):
We're looking at that, Well, we're looking at our text
settings as you heard heard Nicholas say yesterday as well.
Speaker 1 (10:30):
And will they be implemented as a what next year election?
You it's part of our budget this year, but to
go you don't do it instantly, You'll be doing it
for next year.
Speaker 2 (10:37):
But we want to be able to announce things at
the budget.
Speaker 1 (10:39):
So you're announce the budget to go into election.
Speaker 2 (10:41):
You with text cuts, we will I'm not there was
close enough enough. Will you fix that? What do we
want the text? We've opened to look at the texting.
But there's a range of things you could do that
would incentivize actual more growth and the actually what you
could you think about people investing in technology and adoption
of There's a whole bunch of things you could do
(11:02):
around Monka.
Speaker 1 (11:02):
Nice to talk to you. I appreciate Prime Minister Christopher Lexon.
For more from the Mic Asking Breakfast, listen live to
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