October 21, 2024 • 8 mins
Finance Minister Nicola Willis has voiced pride for Team New Zealand following their latest America's Cup victory - but she's unsure if the nation can justify hosting the event.
Team boss Grant Dalton says New Zealand's absolutely in the running to host the next Cup.
However, Nicola Willis says there's a number of factors that go into picking an America's Cup location - and New Zealand needs to be 'hard-headed' about its options.
"Dollars are precious and dollars can go to many purposes - including schools and hospitals."
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Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:00):
Finance Minister Nichola Williss is with us as per usual
on a Monday. Hey Nikola, Hey, he that after speaking
to Chris Bishop about it about an hour ago, I think
I have realized we are not really in the running
at all for hosting the America's Cup. Would that be fair?
Speaker 2 (00:14):
Well? First things first, it's awesome that we won, and
it's very exciting, not just as a sporting achievement but
for the designers, the builders, the sailors, the scientists, everyone involved.
So let's actually take a little moment to celebrate that.
Second thing. I'm not normally one to blow smoke, but
there is a various stute commentator who has said recently
(00:37):
that it is a business decision for Grant Delta as
to where he wishes the Cup to take place, and
it is a business decision for New Zealand too. Yes,
And that is stute commentator being you. I think that,
thank you for listening. You've put it well, which is
that ultimately it is up to Team New Zealand to
decide where they wish to host it, and they will
(00:59):
make that judgment based on all number of things which
are outside our control. And then there is a question
if they ask us about what contribution we might be
prepared to make, and we need to be very hard
headed about that because dollars are precious and dollars can
go to many purposes, including schools and hospitals.
Speaker 1 (01:15):
So are we waiting for them to come to us
rather than us chasing it with them?
Speaker 2 (01:20):
That's right. We'll wait for them to come to us
here and as ultimately it's their decision.
Speaker 1 (01:23):
Okay, hey, listen, this thing about Health New Zealand that
blows my mind is why they think they need to
have this conference in the first place. Of three hundred people.
Can you understand this?
Speaker 2 (01:35):
Well? Look, the first I learned of it was today.
I do accept that when you've got big organizations that
are spread across the country, there can be value in
bringing leaders together to talk about what can we do
together to drive productivity, to drive value for money, to
get better results for our patients. And I understand that
was the intent of this event. There's no intention to
(01:57):
repeat it. And I note that subsequent to that event,
of course, the government chose to send in the commissioners.
The board has been replaced by a commissioner who has
an absolute drive and goal to get resources to the
front line for patients.
Speaker 1 (02:12):
I get that. I get that about leaders But how
big is cabinet? Is it twenty people?
Speaker 2 (02:16):
Twenty and it's in cabinet?
Speaker 1 (02:18):
That is how big a leadership size is, right, That's
how many people you get together to make decisions, not
three hundred. That's taking the mickey, isn't it.
Speaker 2 (02:26):
Yeah, Look, I understand this was three hundred people, and
ultimately it's up to each organization to judge how it
will get good value. And I've been very explicit with
government entities that I expect them to be able to
demonstrate that their activities are going to deliver value to
the front line. And I also have made it clear
(02:48):
that I expect them not to continue with activities that
aren't delivering results for people. So that's the measure.
Speaker 1 (02:55):
Okay, do you know the actual final cost of this conference,
because as far as I can see, we haven't actually
factored in flights andccommodation for these three hundred.
Speaker 2 (03:02):
No, I don't have that number. I understand that. I
understand from the reporting on it that those who attending
the conference were encouraged to coincide that with other engagements
and meetings that they needed to have for business reasons.
Speaker 1 (03:14):
Yeah, okay, is it worth? I mean, has it got
to the point where the public service where you guys
actually need to put it in very simple terms to them,
no more conferences like this.
Speaker 2 (03:24):
Well, we are making it very clear that we expect
them to be very rigorous about how they use public
money and the most effective lever we have for achieving that.
Heather is making it clear that there's not going to
be abundant supplies of money into the future. We're not
going to keep filling up the money jar like the
last government did it. Because when people can look forward
to noodle's more cash every time a budget rolls around,
(03:47):
then there's no need to tighten their belts. But when
they see that, actually the cost of doing all of
these conferences and consultations and all of that stuff is
that we might not then have enough money for the
essential people in our organization. Well, any public agency is
going to make more sensible decisions, and that's the situation
they are in with this government.
Speaker 1 (04:05):
Do you feel vindicated by that inflation number last week
that showed that tax cuts were not really inflationary at all?
Speaker 2 (04:11):
You know what I do? I do because I will
never forget the conger line of people in the election
campaign who wanted to tell us that tax relief would
be inflationary. I'll never forget Chris Hopkins and Barbara Edmonds
wanting to stop New Zealanders keeping more of their hard
earned money because they said it was going to drive inflation.
(04:32):
It was never going to do that. It hasn't done that.
We delivered tax relief and low inflation and dropping interest rates.
And I'm really pleased for New Zealanders. But that's the case.
Speaker 1 (04:41):
I'm reading in the week I'm reading the weekend papers
and something. There's this long interview with you and something
something fascinated me. They said, overall, Nikola Willis thinks that
the time for aggressive economic reform is right, and then
quotes you are saying, I am more impatient and more
reform minded. What are you thinking.
Speaker 2 (05:00):
What I'm thinking is that I have met with so
many New Zealanders who have said to me, New Zealand
can't go on like this, limping along with slow growth,
talking about the same problems, whether that's declining achievement, low productivity,
long waiting lists. We have to be prepared to do
things differently and take bolder steps and so our government.
Speaker 1 (05:24):
Here, Nicola, Are you still there?
Speaker 2 (05:28):
Yes, let's do some bold stuff.
Speaker 1 (05:30):
Yeah, we've got you. Okay, So what are you sorry?
We just lost you for a techi there?
Speaker 2 (05:34):
So I was having quite I was waxing quite lyrical there.
Speaker 1 (05:38):
No, it was so brief. We only lost you for
a second. What we've got the essence of it is
what are you thinking? Like, how bold are you thinking?
What are the areas you think we need some significant reforming.
Speaker 2 (05:50):
Well, we've been very clear that education reform is necessary. Yeah,
to deliver the basics brilliantly, and we are shaking up
the schools. We're clear that we need to get more
overseas investment in this country to create better paying jobs,
and that means loosening the laws of the land to
allow that to happen, and being very clear that we're
going to roll out the welcomes. It's also about being
(06:11):
far more minded towards competition. So you've seen me talk
about the banks, but it's also about the regulatory settings
across a number of other sectors. On infrastructure, we've had
enough with the consent in Quagma. We're cutting through the RIMA.
We're doing that fast track consenting. There's been protests on
Queen Street, but I think New Zealanders want to see
development and growth and those projects will deliver it. We're
(06:35):
going to invite private capital and to help us build
some roads, help us build some of the infrastructure New
Zealand needs for the future. And then on the science system,
we've had enough of the debate about whether or not
we need gene editing. We're bringing in being editing regulator
and we're getting on with it. So across the board,
we are making big changes because this moment in history
demands it of us.
Speaker 1 (06:56):
On the foreign money stuff, are you prepared to cut
the corporate tax rate?
Speaker 2 (07:01):
Well, that would come with a significant cost, and the
thing I'm always conscious of is it wouldn't just attract
new investors, it would also involve giving potentially quite a
windfall gain to the likes of the big banks, the
big tailcos the exhibit. So to my mind, we need
(07:22):
to think about the text system's role in incentivizing investment
and productivity, and there are always new things we can
be considering there. We certainly shouldn't be considering things that
tell people they shouldn't grow their capital and they shouldn't
grow their productivity, and so we need to remain open
to that. But we're also and I've been really clear
about this, we're fiscally constrained. I have a job to
(07:42):
do to get the books back in order, so anything
we do we have to be able to pay for.
Speaker 1 (07:46):
Okay, did you read about best Start in the papers today?
Speaker 2 (07:51):
I haven't read about that.
Speaker 1 (07:52):
These are the childcare people who declared themselves a charity
about nine years ago and therefore oh and had a
sale to facilitate the transition into it charity. Now they
don't pay any tax. I think you should go and
read about that and then tell me when you're going
to start taxing the charities.
Speaker 2 (08:09):
I know that if my IID people were here, they
would tell me it would be most unwise to comment
on the tax of fears of an individual organization. But
what we have put on the Tax Policy Work Program
the Minister of Revenue and I is another look at
the charity sector to make sure that the rules there
are working fairly and that they're not being abused.
Speaker 1 (08:27):
And when we get a decision from you guys on.
Speaker 2 (08:29):
That, well, the deadline that I've set at a budget
next year and I have not taken any proposals to
cabinet as yet.
Speaker 1 (08:38):
Good stuff. Hey Nichola, thanks very much, really appreciate it,
and thank you for listening to the show. Nichola Willis
Finance Minister.
Speaker 2 (08:45):
For more from Hither Duplessy Allen Drive, listen live to
news talks they'd be from four pm weekdays, or follow
the podcast on iHeartRadio.
Finance Minister Nichola Williss is with us as per usual
on a Monday. Hey Nikola, Hey, he that after speaking
to Chris Bishop about it about an hour ago, I think
I have realized we are not really in the running
at all for hosting the America's Cup. Would that be fair?
Speaker 2 (00:14):
Well? First things first, it's awesome that we won, and
it's very exciting, not just as a sporting achievement but
for the designers, the builders, the sailors, the scientists, everyone involved.
So let's actually take a little moment to celebrate that.
Second thing. I'm not normally one to blow smoke, but
there is a various stute commentator who has said recently
(00:37):
that it is a business decision for Grant Delta as
to where he wishes the Cup to take place, and
it is a business decision for New Zealand too. Yes,
And that is stute commentator being you. I think that,
thank you for listening. You've put it well, which is
that ultimately it is up to Team New Zealand to
decide where they wish to host it, and they will
(00:59):
make that judgment based on all number of things which
are outside our control. And then there is a question
if they ask us about what contribution we might be
prepared to make, and we need to be very hard
headed about that because dollars are precious and dollars can
go to many purposes, including schools and hospitals.
Speaker 1 (01:15):
So are we waiting for them to come to us
rather than us chasing it with them?
Speaker 2 (01:20):
That's right. We'll wait for them to come to us
here and as ultimately it's their decision.
Speaker 1 (01:23):
Okay, hey, listen, this thing about Health New Zealand that
blows my mind is why they think they need to
have this conference in the first place. Of three hundred people.
Can you understand this?
Speaker 2 (01:35):
Well? Look, the first I learned of it was today.
I do accept that when you've got big organizations that
are spread across the country, there can be value in
bringing leaders together to talk about what can we do
together to drive productivity, to drive value for money, to
get better results for our patients. And I understand that
was the intent of this event. There's no intention to
(01:57):
repeat it. And I note that subsequent to that event,
of course, the government chose to send in the commissioners.
The board has been replaced by a commissioner who has
an absolute drive and goal to get resources to the
front line for patients.
Speaker 1 (02:12):
I get that. I get that about leaders But how
big is cabinet? Is it twenty people?
Speaker 2 (02:16):
Twenty and it's in cabinet?
Speaker 1 (02:18):
That is how big a leadership size is, right, That's
how many people you get together to make decisions, not
three hundred. That's taking the mickey, isn't it.
Speaker 2 (02:26):
Yeah, Look, I understand this was three hundred people, and
ultimately it's up to each organization to judge how it
will get good value. And I've been very explicit with
government entities that I expect them to be able to
demonstrate that their activities are going to deliver value to
the front line. And I also have made it clear
(02:48):
that I expect them not to continue with activities that
aren't delivering results for people. So that's the measure.
Speaker 1 (02:55):
Okay, do you know the actual final cost of this conference,
because as far as I can see, we haven't actually
factored in flights andccommodation for these three hundred.
Speaker 2 (03:02):
No, I don't have that number. I understand that. I
understand from the reporting on it that those who attending
the conference were encouraged to coincide that with other engagements
and meetings that they needed to have for business reasons.
Speaker 1 (03:14):
Yeah, okay, is it worth? I mean, has it got
to the point where the public service where you guys
actually need to put it in very simple terms to them,
no more conferences like this.
Speaker 2 (03:24):
Well, we are making it very clear that we expect
them to be very rigorous about how they use public
money and the most effective lever we have for achieving that.
Heather is making it clear that there's not going to
be abundant supplies of money into the future. We're not
going to keep filling up the money jar like the
last government did it. Because when people can look forward
to noodle's more cash every time a budget rolls around,
(03:47):
then there's no need to tighten their belts. But when
they see that, actually the cost of doing all of
these conferences and consultations and all of that stuff is
that we might not then have enough money for the
essential people in our organization. Well, any public agency is
going to make more sensible decisions, and that's the situation
they are in with this government.
Speaker 1 (04:05):
Do you feel vindicated by that inflation number last week
that showed that tax cuts were not really inflationary at all?
Speaker 2 (04:11):
You know what I do? I do because I will
never forget the conger line of people in the election
campaign who wanted to tell us that tax relief would
be inflationary. I'll never forget Chris Hopkins and Barbara Edmonds
wanting to stop New Zealanders keeping more of their hard
earned money because they said it was going to drive inflation.
(04:32):
It was never going to do that. It hasn't done that.
We delivered tax relief and low inflation and dropping interest rates.
And I'm really pleased for New Zealanders. But that's the case.
Speaker 1 (04:41):
I'm reading in the week I'm reading the weekend papers
and something. There's this long interview with you and something
something fascinated me. They said, overall, Nikola Willis thinks that
the time for aggressive economic reform is right, and then
quotes you are saying, I am more impatient and more
reform minded. What are you thinking.
Speaker 2 (05:00):
What I'm thinking is that I have met with so
many New Zealanders who have said to me, New Zealand
can't go on like this, limping along with slow growth,
talking about the same problems, whether that's declining achievement, low productivity,
long waiting lists. We have to be prepared to do
things differently and take bolder steps and so our government.
Speaker 1 (05:24):
Here, Nicola, Are you still there?
Speaker 2 (05:28):
Yes, let's do some bold stuff.
Speaker 1 (05:30):
Yeah, we've got you. Okay, So what are you sorry?
We just lost you for a techi there?
Speaker 2 (05:34):
So I was having quite I was waxing quite lyrical there.
Speaker 1 (05:38):
No, it was so brief. We only lost you for
a second. What we've got the essence of it is
what are you thinking? Like, how bold are you thinking?
What are the areas you think we need some significant reforming.
Speaker 2 (05:50):
Well, we've been very clear that education reform is necessary. Yeah,
to deliver the basics brilliantly, and we are shaking up
the schools. We're clear that we need to get more
overseas investment in this country to create better paying jobs,
and that means loosening the laws of the land to
allow that to happen, and being very clear that we're
going to roll out the welcomes. It's also about being
(06:11):
far more minded towards competition. So you've seen me talk
about the banks, but it's also about the regulatory settings
across a number of other sectors. On infrastructure, we've had
enough with the consent in Quagma. We're cutting through the RIMA.
We're doing that fast track consenting. There's been protests on
Queen Street, but I think New Zealanders want to see
development and growth and those projects will deliver it. We're
(06:35):
going to invite private capital and to help us build
some roads, help us build some of the infrastructure New
Zealand needs for the future. And then on the science system,
we've had enough of the debate about whether or not
we need gene editing. We're bringing in being editing regulator
and we're getting on with it. So across the board,
we are making big changes because this moment in history
demands it of us.
Speaker 1 (06:56):
On the foreign money stuff, are you prepared to cut
the corporate tax rate?
Speaker 2 (07:01):
Well, that would come with a significant cost, and the
thing I'm always conscious of is it wouldn't just attract
new investors, it would also involve giving potentially quite a
windfall gain to the likes of the big banks, the
big tailcos the exhibit. So to my mind, we need
(07:22):
to think about the text system's role in incentivizing investment
and productivity, and there are always new things we can
be considering there. We certainly shouldn't be considering things that
tell people they shouldn't grow their capital and they shouldn't
grow their productivity, and so we need to remain open
to that. But we're also and I've been really clear
about this, we're fiscally constrained. I have a job to
(07:42):
do to get the books back in order, so anything
we do we have to be able to pay for.
Speaker 1 (07:46):
Okay, did you read about best Start in the papers today?
Speaker 2 (07:51):
I haven't read about that.
Speaker 1 (07:52):
These are the childcare people who declared themselves a charity
about nine years ago and therefore oh and had a
sale to facilitate the transition into it charity. Now they
don't pay any tax. I think you should go and
read about that and then tell me when you're going
to start taxing the charities.
Speaker 2 (08:09):
I know that if my IID people were here, they
would tell me it would be most unwise to comment
on the tax of fears of an individual organization. But
what we have put on the Tax Policy Work Program
the Minister of Revenue and I is another look at
the charity sector to make sure that the rules there
are working fairly and that they're not being abused.
Speaker 1 (08:27):
And when we get a decision from you guys on.
Speaker 2 (08:29):
That, well, the deadline that I've set at a budget
next year and I have not taken any proposals to
cabinet as yet.
Speaker 1 (08:38):
Good stuff. Hey Nichola, thanks very much, really appreciate it,
and thank you for listening to the show. Nichola Willis
Finance Minister.
Speaker 2 (08:45):
For more from Hither Duplessy Allen Drive, listen live to
news talks they'd be from four pm weekdays, or follow
the podcast on iHeartRadio.
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