1 00:00:00,080 --> 00:00:01,560 Speaker 1: So we got there at last. The deal has been 2 00:00:01,560 --> 00:00:03,240 Speaker 1: struck with the Golden Bee's a hold as they can 3 00:00:03,279 --> 00:00:04,920 Speaker 1: buy or build a house to the value of five 4 00:00:04,960 --> 00:00:07,840 Speaker 1: million dollars plus The idea that we wanted you to 5 00:00:07,960 --> 00:00:10,360 Speaker 1: invest millions in the country but you could go and 6 00:00:10,400 --> 00:00:12,880 Speaker 1: rent a rear B ANDB was of course absurd. Crystal 7 00:00:12,960 --> 00:00:15,840 Speaker 1: Luction's back with us. Good morning, Good morning, Mike. How 8 00:00:15,840 --> 00:00:18,120 Speaker 1: I am very well. So you wouldn't confirm it yesterday? 9 00:00:18,239 --> 00:00:21,800 Speaker 1: Was this very last minute? Was there angst behind the scenes. 10 00:00:22,800 --> 00:00:25,280 Speaker 2: No, it was just that we It's been an ongoing 11 00:00:25,320 --> 00:00:27,600 Speaker 2: series of conversations about how you do it, but you 12 00:00:27,680 --> 00:00:30,200 Speaker 2: just summed it up in a nutshell, which is, if 13 00:00:30,200 --> 00:00:31,880 Speaker 2: you're going to come here and invest five to ten 14 00:00:31,920 --> 00:00:34,279 Speaker 2: million dollars of your own hard earned money, you don't 15 00:00:34,280 --> 00:00:35,640 Speaker 2: want to be renting a property. If you want to 16 00:00:35,640 --> 00:00:38,080 Speaker 2: buy one, we're going to let you do that. And Mike, 17 00:00:38,200 --> 00:00:40,080 Speaker 2: it was a fantastic day, you say, because I met 18 00:00:40,080 --> 00:00:42,400 Speaker 2: this company called Seaflux right now. They are a young 19 00:00:42,440 --> 00:00:45,479 Speaker 2: guy started the software company from New Zealand. He's basically 20 00:00:45,479 --> 00:00:49,239 Speaker 2: got a cloud based system where he integrates all the maintenance, safety, 21 00:00:49,280 --> 00:00:52,560 Speaker 2: compliance stuff that you need for commercial marine vessels ships 22 00:00:52,560 --> 00:00:55,600 Speaker 2: out there in the ocean. Long story short, this guy 23 00:00:55,800 --> 00:00:57,280 Speaker 2: raised it with his own money. His mum and dad 24 00:00:57,280 --> 00:01:00,160 Speaker 2: put money into it, got it up and running. You know, 25 00:01:00,240 --> 00:01:03,360 Speaker 2: Kaiki Fund came in just invested three million dollars with him. 26 00:01:03,720 --> 00:01:07,000 Speaker 2: That three million dollars came from those active investor visas. 27 00:01:07,360 --> 00:01:08,880 Speaker 2: And now what's he going to go off and do. 28 00:01:09,040 --> 00:01:11,080 Speaker 2: He's going to go hire five new people for new 29 00:01:11,160 --> 00:01:13,040 Speaker 2: jobs in his business so he can grow the company. 30 00:01:13,400 --> 00:01:16,480 Speaker 2: Another company there cleanly. They do cleaning products in a 31 00:01:16,520 --> 00:01:19,800 Speaker 2: quite a cool way. They've actually taken they ahead investment 32 00:01:19,800 --> 00:01:22,080 Speaker 2: from the same people and they've ended up going off 33 00:01:22,080 --> 00:01:25,440 Speaker 2: and investing into opening up new selling the product in 34 00:01:25,440 --> 00:01:28,480 Speaker 2: North America and Kroger and Albertson. So this is exactly 35 00:01:28,520 --> 00:01:32,040 Speaker 2: what we're talking about, is not dumb specuative property investment stuff, 36 00:01:32,360 --> 00:01:35,360 Speaker 2: but actual productive investment in New Zealand that gives capital 37 00:01:35,360 --> 00:01:37,600 Speaker 2: to New Zealanders but also connections and knowledge and know 38 00:01:37,680 --> 00:01:40,400 Speaker 2: how that's helpful for them to export. So it was 39 00:01:40,400 --> 00:01:42,119 Speaker 2: really actually quite excited. I mean, as you've been saying, 40 00:01:42,160 --> 00:01:43,800 Speaker 2: you know for a long time, Look it's a no brainer, 41 00:01:44,600 --> 00:01:47,639 Speaker 2: and I think yes, it took some time with Winston 42 00:01:47,680 --> 00:01:50,360 Speaker 2: and I know both getting to the same place where 43 00:01:50,360 --> 00:01:52,600 Speaker 2: we could say, yeah, we want to we both want 44 00:01:52,680 --> 00:01:55,640 Speaker 2: to accelerate productive investment. I think it's just sensible stuff. 45 00:01:55,680 --> 00:01:58,680 Speaker 1: He seemed angsty yesterday and his reaction. He's with us shortly, 46 00:01:58,760 --> 00:02:01,120 Speaker 1: but he seemed angsty yesterday though. Was he Dravee kicking 47 00:02:01,120 --> 00:02:01,640 Speaker 1: and screaming? 48 00:02:02,800 --> 00:02:05,320 Speaker 2: Not at all, honestly, not at all. He might have 49 00:02:05,440 --> 00:02:07,680 Speaker 2: just he has a peculiar way with the media, as 50 00:02:07,680 --> 00:02:11,440 Speaker 2: you well aware, so I wouldn't read too much into that. No, No, honestly, 51 00:02:11,480 --> 00:02:15,280 Speaker 2: it's been it's been very constructive, very productive conversation. He 52 00:02:15,400 --> 00:02:17,320 Speaker 2: genuinely came from a point of view of I just 53 00:02:17,320 --> 00:02:20,679 Speaker 2: don't want to see property speculation because none of that's 54 00:02:20,680 --> 00:02:23,200 Speaker 2: adding a lot of value. He's been very pro investment, 55 00:02:23,320 --> 00:02:25,359 Speaker 2: talking about Ireland and Singapore in the same way that 56 00:02:25,440 --> 00:02:27,840 Speaker 2: I have since. In fact, that was actually Winston and 57 00:02:27,880 --> 00:02:29,840 Speaker 2: I when we first met. I mean we spent and 58 00:02:29,840 --> 00:02:32,920 Speaker 2: didn't talk about coalition, were agreement. We actually just talked 59 00:02:32,960 --> 00:02:36,000 Speaker 2: about Ireland and Singapore, the opportunity for New Zealand, all 60 00:02:36,000 --> 00:02:37,360 Speaker 2: of that kind of stuff, and that's how he sort 61 00:02:37,400 --> 00:02:41,639 Speaker 2: of connected. So he's been very much into pro productive investment, 62 00:02:41,760 --> 00:02:45,560 Speaker 2: as have I, and so yes, we know up the threshold. 63 00:02:45,600 --> 00:02:47,320 Speaker 2: We got rid of the stamp duty component, which was 64 00:02:47,360 --> 00:02:49,960 Speaker 2: a complexity frankly we just didn't need. But it is 65 00:02:50,000 --> 00:02:53,200 Speaker 2: to do exactly this to get capital into particularly our 66 00:02:53,240 --> 00:02:56,240 Speaker 2: small medium, startup exporting kind of companies that actually just 67 00:02:56,280 --> 00:02:58,880 Speaker 2: need that capital injection to grow. There was a guy 68 00:02:58,919 --> 00:03:00,840 Speaker 2: there yesterday I met who who came in on this 69 00:03:00,960 --> 00:03:04,480 Speaker 2: active investor VISA plus program. Right, He's done four investments, 70 00:03:04,480 --> 00:03:06,240 Speaker 2: He's spent a hell of a lot more than than 71 00:03:06,320 --> 00:03:09,360 Speaker 2: ten million dollars investing in these companies, loves it and 72 00:03:09,520 --> 00:03:11,080 Speaker 2: is now living more of his time here in New 73 00:03:11,160 --> 00:03:12,959 Speaker 2: Zealand than he is in New York and California, where 74 00:03:12,960 --> 00:03:16,160 Speaker 2: his base is in America. Good. So that's exactly what 75 00:03:16,160 --> 00:03:17,880 Speaker 2: you want because once you get here, and as you've 76 00:03:17,880 --> 00:03:20,160 Speaker 2: been saying, once you can buy a house, well actually 77 00:03:20,200 --> 00:03:22,280 Speaker 2: that means you get into the ecosystem. You sort of 78 00:03:22,360 --> 00:03:24,240 Speaker 2: understand how it all works down here, You see other 79 00:03:24,280 --> 00:03:27,320 Speaker 2: investment opportunities, and it's not just that first five to 80 00:03:27,360 --> 00:03:29,760 Speaker 2: ten million dollars that you're spending, it's actually what comes 81 00:03:29,800 --> 00:03:33,040 Speaker 2: after all of that. Once you're you're wired that way 82 00:03:33,040 --> 00:03:34,760 Speaker 2: as an investor to look for more opportunities, and you 83 00:03:34,840 --> 00:03:36,600 Speaker 2: understand it, and you've got a comfort level with the place, 84 00:03:36,640 --> 00:03:37,200 Speaker 2: which is good. 85 00:03:37,320 --> 00:03:39,640 Speaker 1: Couldn't agree more? Just explain to me, give us the 86 00:03:40,000 --> 00:03:43,800 Speaker 1: background inside scoop. Why then, did such a simple decision 87 00:03:44,000 --> 00:03:44,840 Speaker 1: take so long? 88 00:03:45,920 --> 00:03:48,080 Speaker 2: Oh? Well, I guess we had a lot of things 89 00:03:48,120 --> 00:03:49,840 Speaker 2: to sort of work through when we first we had 90 00:03:49,840 --> 00:03:53,480 Speaker 2: to retool the active Investor program. We've had to do 91 00:03:53,520 --> 00:03:55,800 Speaker 2: a bunch of other things around RMA reform fast tracks, 92 00:03:55,800 --> 00:03:57,920 Speaker 2: which took a lot of our energy initially as we 93 00:03:57,920 --> 00:04:00,720 Speaker 2: worked our way through all of that time, you know, 94 00:04:00,800 --> 00:04:02,960 Speaker 2: and you know in hindsight, yep, you're looking it could 95 00:04:03,000 --> 00:04:05,160 Speaker 2: have been done much quicker and much faster, fully agree, 96 00:04:05,840 --> 00:04:07,160 Speaker 2: But at the end of the day when you had 97 00:04:07,320 --> 00:04:10,320 Speaker 2: quite different positions, you know, as you know, pre election, 98 00:04:10,880 --> 00:04:13,520 Speaker 2: and we just needed to get ourselves fully comfortable where 99 00:04:13,520 --> 00:04:15,920 Speaker 2: both of us could stand up and say, yep, we're 100 00:04:15,960 --> 00:04:16,599 Speaker 2: up for this, okay. 101 00:04:16,680 --> 00:04:19,440 Speaker 1: Were you ever looking to split the cost in other words, 102 00:04:19,440 --> 00:04:22,280 Speaker 1: five million Auckland, Queenstown, three million, two million, four million, 103 00:04:22,320 --> 00:04:24,760 Speaker 1: whatever elsewhere or not? Yeah? 104 00:04:24,800 --> 00:04:26,960 Speaker 2: We were, I mean I was, I was interested in saying, 105 00:04:26,960 --> 00:04:29,360 Speaker 2: could you do five million in Auckland and Queenstown and say, 106 00:04:29,480 --> 00:04:31,120 Speaker 2: you know three and a half everywhere else around the 107 00:04:31,160 --> 00:04:34,880 Speaker 2: country we couldn't get agreement to do that. But at 108 00:04:34,880 --> 00:04:38,039 Speaker 2: the end of the day, I think this is fine. 109 00:04:38,040 --> 00:04:40,479 Speaker 2: I mean, if you think about it, Mike, the there's 110 00:04:40,480 --> 00:04:43,000 Speaker 2: probably only there's only ten thousand houses itself a five 111 00:04:43,000 --> 00:04:44,840 Speaker 2: million or more in New Zealand, so it's about less 112 00:04:44,880 --> 00:04:48,120 Speaker 2: than half a percent. There's about almost eighty percent of 113 00:04:48,120 --> 00:04:50,480 Speaker 2: them here in Auckland. There's another ten percent sitting in Queenstown. 114 00:04:50,600 --> 00:04:53,640 Speaker 2: So basically you've got ninety percent of the houses above 115 00:04:53,640 --> 00:04:56,599 Speaker 2: five million in those two places. The people that end 116 00:04:56,720 --> 00:04:59,520 Speaker 2: up buying those houses. And I was telling saying yesterday 117 00:04:59,520 --> 00:05:02,560 Speaker 2: and you of the different mayors of Queenstown over the years, 118 00:05:02,760 --> 00:05:04,800 Speaker 2: the people that are actually doing all the philanthropy and 119 00:05:04,839 --> 00:05:07,839 Speaker 2: backing the charities down there are actually these wealthy overseas 120 00:05:07,880 --> 00:05:11,000 Speaker 2: folks who are doing exactly that. So yeah, so look 121 00:05:11,000 --> 00:05:13,440 Speaker 2: it's it's and you know, we've had I mean, the 122 00:05:13,480 --> 00:05:15,840 Speaker 2: cool thing is we've had three hundred applicants. She had 123 00:05:15,839 --> 00:05:18,000 Speaker 2: three hundred and eight. We got another seven over the 124 00:05:18,000 --> 00:05:21,240 Speaker 2: weekend applying for this Act of for vesta visa. That's 125 00:05:21,279 --> 00:05:23,720 Speaker 2: that's almost two billion dollars we didn't have in the 126 00:05:23,760 --> 00:05:26,560 Speaker 2: economy on April one. That's now here. It's doing the 127 00:05:26,600 --> 00:05:28,960 Speaker 2: things like I talked about with these companies ce Flux 128 00:05:28,960 --> 00:05:33,080 Speaker 2: and Cleanalley and others, and you know, it's it's pretty cool. 129 00:05:33,120 --> 00:05:35,000 Speaker 2: And probably almost half of them are coming out of 130 00:05:35,040 --> 00:05:38,320 Speaker 2: the US. Obviously a number out of China, Hong Kong, 131 00:05:38,400 --> 00:05:41,080 Speaker 2: but Germany's another big place as well. So they're coming 132 00:05:41,080 --> 00:05:42,920 Speaker 2: from all over the world, which is exactly what we need. 133 00:05:43,040 --> 00:05:46,279 Speaker 1: Yes we do. You're off to Amazon as a headline 134 00:05:46,279 --> 00:05:46,960 Speaker 1: out of that today. 135 00:05:48,160 --> 00:05:50,640 Speaker 2: This is this is an incredible story, right, Amazon one 136 00:05:50,640 --> 00:05:52,360 Speaker 2: of the biggest companies in the world, probably with over 137 00:05:52,360 --> 00:05:54,080 Speaker 2: a trillion dollars, which will be you know, three and 138 00:05:54,120 --> 00:05:57,560 Speaker 2: a half times size of New Zealand. You know that AAWS, 139 00:05:57,600 --> 00:05:59,799 Speaker 2: which is their web services they do all the cloud storages, 140 00:06:00,120 --> 00:06:02,520 Speaker 2: send as all that stuff. They're investing seven and a 141 00:06:02,560 --> 00:06:06,039 Speaker 2: half billion dollars in New Zealand. That will have an 142 00:06:06,080 --> 00:06:08,760 Speaker 2: impact on our GDP for sure. Crowd up to about 143 00:06:08,760 --> 00:06:11,480 Speaker 2: a thousand jobs, and it's about about an almost an 144 00:06:11,480 --> 00:06:14,479 Speaker 2: eleven billion dollar boost to our GDP. And what it 145 00:06:14,600 --> 00:06:16,920 Speaker 2: is is it's just us to us to be able 146 00:06:16,920 --> 00:06:20,960 Speaker 2: to have a big global company like AWS put a 147 00:06:21,000 --> 00:06:23,640 Speaker 2: vote of confidence into New Zealand. In that way, that's 148 00:06:23,680 --> 00:06:27,240 Speaker 2: probably the largest ever certainly publicly announced technology investment I 149 00:06:27,240 --> 00:06:29,720 Speaker 2: would have mentioned in New Zealand by an national tech firm. 150 00:06:29,760 --> 00:06:31,520 Speaker 1: So have you told them we haven't got the power 151 00:06:31,520 --> 00:06:31,919 Speaker 1: to run it? 152 00:06:34,400 --> 00:06:36,600 Speaker 2: Don't you worry? That's the next problem, Mike. 153 00:06:36,640 --> 00:06:39,400 Speaker 1: You give me a problem every time we meetstron to 154 00:06:39,400 --> 00:06:40,440 Speaker 1: sort the country one day to. 155 00:06:40,480 --> 00:06:42,200 Speaker 2: Trying to help it says just well that's what I'm 156 00:06:42,200 --> 00:06:42,599 Speaker 2: trying to do. 157 00:06:42,720 --> 00:06:45,520 Speaker 1: Say good, seven and a half billion on a thousand jobs. 158 00:06:45,520 --> 00:06:47,000 Speaker 1: You can't argue with that. 159 00:06:47,000 --> 00:06:48,719 Speaker 2: That's great. Is it just a good sign though that 160 00:06:48,760 --> 00:06:51,200 Speaker 2: you know? You know, the other day I was telling you, 161 00:06:51,240 --> 00:06:53,480 Speaker 2: like this company, Halter, one of our great tech companies, 162 00:06:53,480 --> 00:06:56,680 Speaker 2: actually used as Amazon Web Services for all their cloud solutions. 163 00:06:57,839 --> 00:06:59,919 Speaker 2: They raised one hundred and sixty five million dollars, have 164 00:07:00,080 --> 00:07:02,640 Speaker 2: hundred and seven vacant jobs right there today here in Auckland. 165 00:07:02,680 --> 00:07:05,760 Speaker 2: So yeah, it's coming right, it's moving, So we just 166 00:07:05,800 --> 00:07:07,760 Speaker 2: got to follow it through and stick with the plane. 167 00:07:07,800 --> 00:07:10,440 Speaker 1: Appreciate your time as always, Christopher Latson, Prime Minister. 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