March 16, 2025 • 7 mins
In the absence of the PM and the Deputy PM, the Acting PM and Act leader comments on the school lunch debacle, the Reserve Bank ripping off farmers and whether the Coalition will cannibalise itself as we head into the 2026 election.
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Episode Transcript
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Speaker 1 (00:00):
He is running the country today or for the next
couple of days anyhow, Acting Prime Minister and act Leader
David Seymour, David, why don't you just do a Trump
and put an end to school lunches while Winston and
Luxeon are away?
Speaker 2 (00:15):
Well, the main reason is that we first of all
have government policy, and we do want to keep the
coalition together. I don't think it'll work very well if
everyone just changes the rules when the other two are away.
The second thing is, besides wanting a bit of stability,
we've got a legally enforceable contract with the people delivering
(00:35):
the lunches, so we have to pay them out. So
there's a few reasons, but I sometimes wonder if that
mightn't be the best thing to do. Seventy five percent
parents making their kids lunches on school days and presumably
one hundred percent of pearance on the other one hundred
and eighty day a year in schools are closed, so
it is a pretty tempting thing. But we got to governor.
Speaker 1 (00:57):
Yeah, okay, well, here's an idea for you. You're doing this.
School lunch is on the cheap for three bucks, and
good on you for cutting the cost of them, even
if they may not be edible. But why not just
be more targeted David in your approach, Why not just
go to the lower decile schools and say here's three
dollars ahead to subsidize lunch for the kids who don't
(01:17):
have a lunch when they come to school. Because you
can't tell me that twenty seven percent of the kids
in New Zealand going to school need the state to
give them a lunch.
Speaker 2 (01:27):
Well, first of all, I can't let you get away
with that last jab. We get lots of feedback from
a lot of people who say they're not only edible,
but are better than the old system. Strangely, those people
don't seem to be getting featured on the news. I
can't work it out either. As far as the targeting,
we basically inherited the last government's policy. You know, I
(01:47):
campaign to get rid of the whole thing. Our coalition
wants to keep it. I'm now signed up to the
government policy and in one of the life's great ironies,
I'm the guy responsible for making it work. As Education
Associate Education Minister, say them's the brakes. Should it be
targeted differently? Yep? I think they're a really good argument
for that. And once we've studied the ship as it
(02:10):
currently is, and it is getting better each day for
reasons we are improving it every day, we will be
able to start asking these other questions like do we
need to fund it for every single care at every
single school. I think those questions are worth answering.
Speaker 1 (02:27):
Federated Farmers is calling for the Reserve Bank to drop
overly conservative and growth restricting banking capital rules that are
costing farmers dearly. See Adrian Or came in and in
twenty nineteen we had to hold or the banks had
to hold enough capital to withstand a one and two
hundred year financial event. So basically they went from one
(02:48):
hundred to two hundred years. So basically that's added one
percent across the board to farmers' mortgages. And you think
of all that money that would be sloshing around in
the system. Had to pay one percent less on their mortgage,
for instance, it would improve the country's tax take immeasurably.
Speaker 2 (03:09):
Yeah, so few things about that. First of all, just
acknowledged Mark Cameron cheeringly Primary Production Committee in the way
that he's been dogged on this issue. Second of all,
I used to think Rob Muldoon was New Zealand's most
expensive citizen. Then Brant Robertson came along and I thought, no,
it's him, But I actually think it might be Adrian
(03:30):
all because the cost he put on the country is enormous.
Then again, he was appointed by Grant Robinson, so I
guess we can say it's Grant. The fact that having
gold plated capital requirements at our banks has pushed up
the cost of borrowing and therefore the cost of capital
right through the economy. It's at agriculture particularly hard. I
(03:51):
was against it back in twenty nineteen when I was
sitting on the Finance and Expenditure Committee. I said to Adrian,
why do we need this? He said, in case there's
a crisis next year. We had COVID the whole after
two years, and what did he do. He suspended the
requirements while we went through the crisis. After the crisis,
I said, well, we got through a crisis with the
(04:12):
current rules, so we're sure we still need to raise
the capital ratios. And he said, yeah, we're now going
to start raising them again. There's never been any logic
to these capital requirements not necessary, and I'm pleased to
see Nikola Willis, who is the new Grant Robertson in
the sense she's the finance minister much more careful with
our money, is talking pretty loudly about bending the Reserve
(04:35):
Bank on this. So we get some sensible capital requirements
and I've certainly looked into it as Minister of Regulation.
We got some advice ready to go. So watch this
space on the capital requirements, is what I'd.
Speaker 1 (04:46):
Say, David, SayMore. Let's just quickly finish on where we
started this conversation. Krystopher Luxon is in India trying to
get a free trade agreement or part of one winstance,
in Washington trying to talk Trump out of tariffs. Both
doing really good work on the world stage. Now that's good,
but come, I don't know. Mid twenty twenty six, is
it going to be every man for himself and the
(05:09):
coalition as you all try and cannibalize each other.
Speaker 2 (05:14):
Well, I don't think so. I think each party can
point to a group of voters that partly overlap, but
not as much as you think. And we actually poll
this really closely. So there are people who support Act
to are sitting there saying, look, we're basically open and
tolerant people. But we don't think identity politics is very
open or tolerant. We want to go a bit faster
(05:36):
on economic reform. The other two parties don't really play
in both those fields. They have their things they go
for and possibly people who support them aren't into act.
That's fine. So look, I think what most people will
be looking for in twenty six as can you re
elect the coalition? Can you re elect a stable gun mound?
(06:01):
Because the alternative just doesn't be thinking about it. I
told them someone the other day said they were talking
to a political old timer who told them, look if
the other guys get in twenty six, you know three
years of raility, White to Tea and Beving who were
Packer and Chloe Swarbrick, who I just think is increasingly
unhinged in her policy pronouncements. She'll be making moment Davidson
(06:25):
look like the sensible one, and then you've got Preciptions
who has the ability to screw up anything and he's
the sensible winchpin. And that coalition. Now, someone said after
three years of that it will be irrecoverable. So I
suspect that what each of the three parties in coalition
will be doing is campaigning to get the coalition re
(06:47):
elected and certainly my viewers ex job is to keep
the government but b make it better by making them
go faster on the economic reform, deregulation climate and having
an honest conversation about citizenship, while we also do some
things in education like charter schools that give people a
bit more opportunity.
Speaker 1 (07:06):
All right, we've got to go. I think a lot
of people might vote ABR anything but Raweri and this
weed worker, well we'll leave that one. David Seymour, thanks
for your time.
Speaker 2 (07:16):
No worries, Jamie, you have a great day.
He is running the country today or for the next
couple of days anyhow, Acting Prime Minister and act Leader
David Seymour, David, why don't you just do a Trump
and put an end to school lunches while Winston and
Luxeon are away?
Speaker 2 (00:15):
Well, the main reason is that we first of all
have government policy, and we do want to keep the
coalition together. I don't think it'll work very well if
everyone just changes the rules when the other two are away.
The second thing is, besides wanting a bit of stability,
we've got a legally enforceable contract with the people delivering
(00:35):
the lunches, so we have to pay them out. So
there's a few reasons, but I sometimes wonder if that
mightn't be the best thing to do. Seventy five percent
parents making their kids lunches on school days and presumably
one hundred percent of pearance on the other one hundred
and eighty day a year in schools are closed, so
it is a pretty tempting thing. But we got to governor.
Speaker 1 (00:57):
Yeah, okay, well, here's an idea for you. You're doing this.
School lunch is on the cheap for three bucks, and
good on you for cutting the cost of them, even
if they may not be edible. But why not just
be more targeted David in your approach, Why not just
go to the lower decile schools and say here's three
dollars ahead to subsidize lunch for the kids who don't
(01:17):
have a lunch when they come to school. Because you
can't tell me that twenty seven percent of the kids
in New Zealand going to school need the state to
give them a lunch.
Speaker 2 (01:27):
Well, first of all, I can't let you get away
with that last jab. We get lots of feedback from
a lot of people who say they're not only edible,
but are better than the old system. Strangely, those people
don't seem to be getting featured on the news. I
can't work it out either. As far as the targeting,
we basically inherited the last government's policy. You know, I
(01:47):
campaign to get rid of the whole thing. Our coalition
wants to keep it. I'm now signed up to the
government policy and in one of the life's great ironies,
I'm the guy responsible for making it work. As Education
Associate Education Minister, say them's the brakes. Should it be
targeted differently? Yep? I think they're a really good argument
for that. And once we've studied the ship as it
(02:10):
currently is, and it is getting better each day for
reasons we are improving it every day, we will be
able to start asking these other questions like do we
need to fund it for every single care at every
single school. I think those questions are worth answering.
Speaker 1 (02:27):
Federated Farmers is calling for the Reserve Bank to drop
overly conservative and growth restricting banking capital rules that are
costing farmers dearly. See Adrian Or came in and in
twenty nineteen we had to hold or the banks had
to hold enough capital to withstand a one and two
hundred year financial event. So basically they went from one
(02:48):
hundred to two hundred years. So basically that's added one
percent across the board to farmers' mortgages. And you think
of all that money that would be sloshing around in
the system. Had to pay one percent less on their mortgage,
for instance, it would improve the country's tax take immeasurably.
Speaker 2 (03:09):
Yeah, so few things about that. First of all, just
acknowledged Mark Cameron cheeringly Primary Production Committee in the way
that he's been dogged on this issue. Second of all,
I used to think Rob Muldoon was New Zealand's most
expensive citizen. Then Brant Robertson came along and I thought, no,
it's him, But I actually think it might be Adrian
(03:30):
all because the cost he put on the country is enormous.
Then again, he was appointed by Grant Robinson, so I
guess we can say it's Grant. The fact that having
gold plated capital requirements at our banks has pushed up
the cost of borrowing and therefore the cost of capital
right through the economy. It's at agriculture particularly hard. I
(03:51):
was against it back in twenty nineteen when I was
sitting on the Finance and Expenditure Committee. I said to Adrian,
why do we need this? He said, in case there's
a crisis next year. We had COVID the whole after
two years, and what did he do. He suspended the
requirements while we went through the crisis. After the crisis,
I said, well, we got through a crisis with the
(04:12):
current rules, so we're sure we still need to raise
the capital ratios. And he said, yeah, we're now going
to start raising them again. There's never been any logic
to these capital requirements not necessary, and I'm pleased to
see Nikola Willis, who is the new Grant Robertson in
the sense she's the finance minister much more careful with
our money, is talking pretty loudly about bending the Reserve
(04:35):
Bank on this. So we get some sensible capital requirements
and I've certainly looked into it as Minister of Regulation.
We got some advice ready to go. So watch this
space on the capital requirements, is what I'd.
Speaker 1 (04:46):
Say, David, SayMore. Let's just quickly finish on where we
started this conversation. Krystopher Luxon is in India trying to
get a free trade agreement or part of one winstance,
in Washington trying to talk Trump out of tariffs. Both
doing really good work on the world stage. Now that's good,
but come, I don't know. Mid twenty twenty six, is
it going to be every man for himself and the
(05:09):
coalition as you all try and cannibalize each other.
Speaker 2 (05:14):
Well, I don't think so. I think each party can
point to a group of voters that partly overlap, but
not as much as you think. And we actually poll
this really closely. So there are people who support Act
to are sitting there saying, look, we're basically open and
tolerant people. But we don't think identity politics is very
open or tolerant. We want to go a bit faster
(05:36):
on economic reform. The other two parties don't really play
in both those fields. They have their things they go
for and possibly people who support them aren't into act.
That's fine. So look, I think what most people will
be looking for in twenty six as can you re
elect the coalition? Can you re elect a stable gun mound?
(06:01):
Because the alternative just doesn't be thinking about it. I
told them someone the other day said they were talking
to a political old timer who told them, look if
the other guys get in twenty six, you know three
years of raility, White to Tea and Beving who were
Packer and Chloe Swarbrick, who I just think is increasingly
unhinged in her policy pronouncements. She'll be making moment Davidson
(06:25):
look like the sensible one, and then you've got Preciptions
who has the ability to screw up anything and he's
the sensible winchpin. And that coalition. Now, someone said after
three years of that it will be irrecoverable. So I
suspect that what each of the three parties in coalition
will be doing is campaigning to get the coalition re
(06:47):
elected and certainly my viewers ex job is to keep
the government but b make it better by making them
go faster on the economic reform, deregulation climate and having
an honest conversation about citizenship, while we also do some
things in education like charter schools that give people a
bit more opportunity.
Speaker 1 (07:06):
All right, we've got to go. I think a lot
of people might vote ABR anything but Raweri and this
weed worker, well we'll leave that one. David Seymour, thanks
for your time.
Speaker 2 (07:16):
No worries, Jamie, you have a great day.
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