February 18, 2025 • 7 mins
The Prime Minister ponders the latest farmer confidence survey, today's OCR announcement, Winston wanting us out of the Paris Climate Accord and his Beef + Lamb BBQ fashion crime.
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Episode Transcript
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Speaker 1 (00:00):
Wednesdays on the Country. Christopher Luxem Prime Minister joins us,
we'll come back to the fashion crime, but I want
to start with one of the good stories of the day,
the Federated Farmer's confidence serve a prime minister as a government,
you've got this one, right, Yeah.
Speaker 2 (00:14):
Look, I'm really proud of the progress we're making in
the agricultural sector. As I've always said, it's going to
power us out of the recession and it's our most
important sect there and that's why we've got to back
it and we've got to be all in and so
you know, look, there's no doubt about it, Jamie. It's
lem been a really tough you know, fourteen months and
you know, in this last week while economically and to
see agriculture coming through the way it is, but we're
(00:35):
actually also starting to see manufacturing activities grown for the
first time in two years, services activities grant for the
first time in a year. We've got tourism up twelve percent.
Now you know, we're hoping to get our fourth rate
cup today obviously, but we've got some good jobs growth
actually happening in November December, so you know, I explain
it to people. It's a bit like you know when
you put on a lawmark and nothing's happening, and then
(00:57):
all of a sudden it sort of splusters a burston
then dies and spotters, and all of a sudden you
pull again and the flywheel kicks in and away you go.
And that's what we're trying to get to, at that
point where we're just on that march into good, consistent,
steady growth, which I think you know, by all the
forecasts of the economists, they are expecting the economy this
year to get up to two percent and plus, which
is good. So there's more to do. There's a lot
(01:19):
to do to keep the economy moving and growing. It's
so important. That's what puts money in people's back pot
profitability improving, and all that good stuff, which is great.
Speaker 1 (01:27):
Yep, okay, So that is going to be helped this
afternoon by a fifty basis point cut in the ocr
But I wonder whether the advent of Trump has dampened
or Trump is them around the world, has dampened the
prospects of further interest rate cuts. What do you think.
I know it's not your job to comment, but throw
us a bone.
Speaker 2 (01:46):
Look, I don't know, surely it's a challenging global environment
for sure, and you know we expect some turbulance along
the way. But look, bottom line, we are now on
a track where we expect the interest rates to continue
to be falling over the course of the year. I mean,
one of the economists I saw, Brad Olsen in the Metrics,
you know, a really good guy. But yeah, he was saying,
by the end of the year, just on the interest
(02:07):
rate cuts alone, there is an extra forty five million
dollars a week slashing around. The consumers will actually have
new Zealanders. We have to spend in the economy and
so you know, when they spend in the economy, that
then drives more growth in a way we kind of
go so, you know, just getting those interest rates down,
and I think we're on us to stay march down,
which is important.
Speaker 1 (02:23):
Winston wants us out of the Paris climbate the court. Interestingly,
David Seymour and I thought this was a really interesting
commed He said he thinks at some stage in the
future the cost of being in will be greater than
the punishment for leaving.
Speaker 2 (02:37):
Well, I mean, as you and I spoke the other day,
I appreciate it with a bit of commentary in the
rawal sector. It I think was misunderstood was that we
are going hard on economic growth and it is in
our national interests to be in Paris, and we're going
to always put keys first and we'll make sure every
decision is in our interests. But what we're not going
to do is what the previous government do was doing,
(02:59):
which was punishing our farmers. I want agriculture pumping, I
want the economy growing, as I said, I'm not going
to risk that. So you know, we have made a
commitment to twenty thirty five, which actually, as I said,
is good because it brings it back our international plans
back in line with our domestic commitments.
Speaker 1 (03:15):
Yeah, but can we afford that commitment? Prime Minister twenty
four billion dollars? How are you going to pay.
Speaker 2 (03:20):
For that commitment? What are you justifying that?
Speaker 1 (03:23):
Well, no, it isn't it going to cost us twenty
four billion dollars? Correct me if I'm wrong to meet
those targets.
Speaker 2 (03:30):
Well, know, what we're saying is we're not going to
put We're not going to send billions of dollars overseas
to to do credits or any of that sort of stuff.
We're going to make sure that we're doing everything we
can to make sure we're aligned when our domestic goals.
Speaker 1 (03:44):
So what's that plant the country and pine trees, is it?
Speaker 2 (03:46):
No? No, No, we're not going to do that either.
As you said, we've already come out very strongly with
you know, saying we're not going to have whole farm conversions,
and we've been pretty tough on making sure we push
back on pines. I think people have appreciated it in
the agriculture sector. But you know, what we're saying is
all about even it's agreed to say, Look, it's the
New Zealand's national interest at this time. Withdrawing from and
ripping up international agreements means we wouldn't be a trusted
partner on trade. It means that those countries overseas would
(04:08):
make sure that they would substitute a New Zealand product
with European product, and that means that we're going to
be poorer. And when the sector drives ten thousand dollars
every man, woman and child, we aren't going to put
growth at risk. Growth as powamount, growth as primary and
will continue to revisit make sure, everything's in our national interest,
but at this time that's exactly the right thing to do.
(04:28):
And as you've seen, it's a relatively minimal commitment as
we go out to twenty thirty five. But the important
thing is there's a linees the international goals of what
we're on track to do here at home, and we
want maximum growth, but we can actually do both, and
we can do it but primary grow so our national
interests to do, so we're going to continue to focus
on that.
Speaker 1 (04:47):
Hey, I've got a rich history of being involved in
clothing controversies with National Party prime ministers. There was the
gay red top and now there's the beef and Lamb
barbecue fashion crime, and it shows you how out of
touch I am with fashion these days, Prime Minister. I
didn't even notice your fashion crime when I was talking
to you at the barbecue.
Speaker 2 (05:08):
Well, I came out of Parliament and my suit and tie.
I came into your barbecue to promote Lamb and which
I just think is fantastic and I'm just admiring of
the sector and everything they do and what's been a
pretty tough time. And someone threw me your LAMB Day
T shirt, so I put it on over the top
of my suit and tie and then gave a bit
of a you know, I pumped up. You want to
(05:29):
make a very strong statement about what I'm supporting the sector,
but the big issues of the day of being a
gust and you know, apparently that's a startorial blunder and fashions.
Speaker 1 (05:37):
Okay, I'm defending you slightly here because it was quite chilly.
I ended up having to put another layer on at
the barbecue. But did you not think for a moment
to take your jacket off and put the T shirt
over over your shirt even.
Speaker 2 (05:48):
Well, as you know, I was coming out of Parliament
and I was having to go straight back into it again,
so I didn't really have time to do all that.
But I do not here, Jamie. I will do anything
and everything back our farmers and the fact that that
gets talked about, that's all good for our lamb sector.
So and as I said, we are the best lamb
producers in the world. It's a good product and and
(06:09):
everyone in the world deserves to ever go at getting
their lips and laughing gear around some lambs.
Speaker 1 (06:13):
Yeah, and well done to beef and lamb New Zealand,
and a proud to putting on a wonderful day. It
was very it was very good. Even the Greens turned up.
That's not a bad ass.
Speaker 2 (06:21):
I called the diplomatic incident with the Greens. When you
came up on the plane. Did you spilled water or
something on one of the members.
Speaker 1 (06:27):
Of the part. No, no, I spelled, I spelled wine.
I was reading my woman's magazine, the New Zealand Woman's Weekly,
and I spilled wine on a local Green MP, Scott Willis.
I apologize, Scott, Yeah, but anyhow, it wasn't a diplomatic incident.
It was a mistake. He was very generous as we
mopped it up.
Speaker 2 (06:44):
What a renaissance men you are. I mean, reading the
Woman's Weekly while you're flying with a shardon name, you know,
engaging with Green members. I mean, it's quite something.
Speaker 1 (06:52):
I'm a bit rough around the end. Hey, I'm a
bit rough around the edges, Prime Minister. I did tell
you that I also sneaked a weepe behind the bushes
and part of the grounds because no one would give
us access to the toilets. So there you go. That's
what you get with the broken down Southland sheep farmer.
Speaker 2 (07:06):
With the STA Next time, that'll be good. See you
laid up all right, Take care, have a great day.
So you have
Wednesdays on the Country. Christopher Luxem Prime Minister joins us,
we'll come back to the fashion crime, but I want
to start with one of the good stories of the day,
the Federated Farmer's confidence serve a prime minister as a government,
you've got this one, right, Yeah.
Speaker 2 (00:14):
Look, I'm really proud of the progress we're making in
the agricultural sector. As I've always said, it's going to
power us out of the recession and it's our most
important sect there and that's why we've got to back
it and we've got to be all in and so
you know, look, there's no doubt about it, Jamie. It's
lem been a really tough you know, fourteen months and
you know, in this last week while economically and to
see agriculture coming through the way it is, but we're
(00:35):
actually also starting to see manufacturing activities grown for the
first time in two years, services activities grant for the
first time in a year. We've got tourism up twelve percent.
Now you know, we're hoping to get our fourth rate
cup today obviously, but we've got some good jobs growth
actually happening in November December, so you know, I explain
it to people. It's a bit like you know when
you put on a lawmark and nothing's happening, and then
(00:57):
all of a sudden it sort of splusters a burston
then dies and spotters, and all of a sudden you
pull again and the flywheel kicks in and away you go.
And that's what we're trying to get to, at that
point where we're just on that march into good, consistent,
steady growth, which I think you know, by all the
forecasts of the economists, they are expecting the economy this
year to get up to two percent and plus, which
is good. So there's more to do. There's a lot
(01:19):
to do to keep the economy moving and growing. It's
so important. That's what puts money in people's back pot
profitability improving, and all that good stuff, which is great.
Speaker 1 (01:27):
Yep, okay, So that is going to be helped this
afternoon by a fifty basis point cut in the ocr
But I wonder whether the advent of Trump has dampened
or Trump is them around the world, has dampened the
prospects of further interest rate cuts. What do you think.
I know it's not your job to comment, but throw
us a bone.
Speaker 2 (01:46):
Look, I don't know, surely it's a challenging global environment
for sure, and you know we expect some turbulance along
the way. But look, bottom line, we are now on
a track where we expect the interest rates to continue
to be falling over the course of the year. I mean,
one of the economists I saw, Brad Olsen in the Metrics,
you know, a really good guy. But yeah, he was saying,
by the end of the year, just on the interest
(02:07):
rate cuts alone, there is an extra forty five million
dollars a week slashing around. The consumers will actually have
new Zealanders. We have to spend in the economy and
so you know, when they spend in the economy, that
then drives more growth in a way we kind of
go so, you know, just getting those interest rates down,
and I think we're on us to stay march down,
which is important.
Speaker 1 (02:23):
Winston wants us out of the Paris climbate the court. Interestingly,
David Seymour and I thought this was a really interesting
commed He said he thinks at some stage in the
future the cost of being in will be greater than
the punishment for leaving.
Speaker 2 (02:37):
Well, I mean, as you and I spoke the other day,
I appreciate it with a bit of commentary in the
rawal sector. It I think was misunderstood was that we
are going hard on economic growth and it is in
our national interests to be in Paris, and we're going
to always put keys first and we'll make sure every
decision is in our interests. But what we're not going
to do is what the previous government do was doing,
(02:59):
which was punishing our farmers. I want agriculture pumping, I
want the economy growing, as I said, I'm not going
to risk that. So you know, we have made a
commitment to twenty thirty five, which actually, as I said,
is good because it brings it back our international plans
back in line with our domestic commitments.
Speaker 1 (03:15):
Yeah, but can we afford that commitment? Prime Minister twenty
four billion dollars? How are you going to pay.
Speaker 2 (03:20):
For that commitment? What are you justifying that?
Speaker 1 (03:23):
Well, no, it isn't it going to cost us twenty
four billion dollars? Correct me if I'm wrong to meet
those targets.
Speaker 2 (03:30):
Well, know, what we're saying is we're not going to
put We're not going to send billions of dollars overseas
to to do credits or any of that sort of stuff.
We're going to make sure that we're doing everything we
can to make sure we're aligned when our domestic goals.
Speaker 1 (03:44):
So what's that plant the country and pine trees, is it?
Speaker 2 (03:46):
No? No, No, we're not going to do that either.
As you said, we've already come out very strongly with
you know, saying we're not going to have whole farm conversions,
and we've been pretty tough on making sure we push
back on pines. I think people have appreciated it in
the agriculture sector. But you know, what we're saying is
all about even it's agreed to say, Look, it's the
New Zealand's national interest at this time. Withdrawing from and
ripping up international agreements means we wouldn't be a trusted
partner on trade. It means that those countries overseas would
(04:08):
make sure that they would substitute a New Zealand product
with European product, and that means that we're going to
be poorer. And when the sector drives ten thousand dollars
every man, woman and child, we aren't going to put
growth at risk. Growth as powamount, growth as primary and
will continue to revisit make sure, everything's in our national interest,
but at this time that's exactly the right thing to do.
(04:28):
And as you've seen, it's a relatively minimal commitment as
we go out to twenty thirty five. But the important
thing is there's a linees the international goals of what
we're on track to do here at home, and we
want maximum growth, but we can actually do both, and
we can do it but primary grow so our national
interests to do, so we're going to continue to focus
on that.
Speaker 1 (04:47):
Hey, I've got a rich history of being involved in
clothing controversies with National Party prime ministers. There was the
gay red top and now there's the beef and Lamb
barbecue fashion crime, and it shows you how out of
touch I am with fashion these days, Prime Minister. I
didn't even notice your fashion crime when I was talking
to you at the barbecue.
Speaker 2 (05:08):
Well, I came out of Parliament and my suit and tie.
I came into your barbecue to promote Lamb and which
I just think is fantastic and I'm just admiring of
the sector and everything they do and what's been a
pretty tough time. And someone threw me your LAMB Day
T shirt, so I put it on over the top
of my suit and tie and then gave a bit
of a you know, I pumped up. You want to
(05:29):
make a very strong statement about what I'm supporting the sector,
but the big issues of the day of being a
gust and you know, apparently that's a startorial blunder and fashions.
Speaker 1 (05:37):
Okay, I'm defending you slightly here because it was quite chilly.
I ended up having to put another layer on at
the barbecue. But did you not think for a moment
to take your jacket off and put the T shirt
over over your shirt even.
Speaker 2 (05:48):
Well, as you know, I was coming out of Parliament
and I was having to go straight back into it again,
so I didn't really have time to do all that.
But I do not here, Jamie. I will do anything
and everything back our farmers and the fact that that
gets talked about, that's all good for our lamb sector.
So and as I said, we are the best lamb
producers in the world. It's a good product and and
(06:09):
everyone in the world deserves to ever go at getting
their lips and laughing gear around some lambs.
Speaker 1 (06:13):
Yeah, and well done to beef and lamb New Zealand,
and a proud to putting on a wonderful day. It
was very it was very good. Even the Greens turned up.
That's not a bad ass.
Speaker 2 (06:21):
I called the diplomatic incident with the Greens. When you
came up on the plane. Did you spilled water or
something on one of the members.
Speaker 1 (06:27):
Of the part. No, no, I spelled, I spelled wine.
I was reading my woman's magazine, the New Zealand Woman's Weekly,
and I spilled wine on a local Green MP, Scott Willis.
I apologize, Scott, Yeah, but anyhow, it wasn't a diplomatic incident.
It was a mistake. He was very generous as we
mopped it up.
Speaker 2 (06:44):
What a renaissance men you are. I mean, reading the
Woman's Weekly while you're flying with a shardon name, you know,
engaging with Green members. I mean, it's quite something.
Speaker 1 (06:52):
I'm a bit rough around the end. Hey, I'm a
bit rough around the edges, Prime Minister. I did tell
you that I also sneaked a weepe behind the bushes
and part of the grounds because no one would give
us access to the toilets. So there you go. That's
what you get with the broken down Southland sheep farmer.
Speaker 2 (07:06):
With the STA Next time, that'll be good. See you
laid up all right, Take care, have a great day.
So you have
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