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Speaker 1: The Prime Minister for this Tuesday morning, Christopher Luxan is

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Speaker 1: with us. Good morning, Good morning, Mike. How are you

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Speaker 1: very well? Indeed, thank you? Do you and David Seymore

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Speaker 1: need to step outside for a while. There's something brewing.

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Speaker 2: There, no, Look, small parties will always been trying to

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Speaker 2: get some media attention.

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Speaker 3: It's politics. But I, frankly spend little time thinking about what.

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Speaker 2: David does with his letters and his jeeps. We've got

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Speaker 2: a big job to do. We've got to get focused

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Speaker 2: on the economy.

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Speaker 1: So this seems to be the problem. Do the media

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Speaker 1: understand that because they keep asking you about these things

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Speaker 1: and you keep trying to side step it. Probably correctly so,

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Speaker 1: but they can you if you wanted to sack David Seymour.

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Speaker 2: Well, I mean, I'm responsible for all ministers in the

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Speaker 2: cabinet and their conduct, you know, and so I'm very

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Speaker 2: conscious of that. There's been you know, in respect to

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Speaker 2: the letter conversation, there's been no breach of the cabinet manual.

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Speaker 2: Happened before he was a minister, happened before we were

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Speaker 2: in government. But look, I mean, you know, as I've

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Speaker 2: learned in four years, you know, this politics game is

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Speaker 2: a different game, And you know what we're focused on

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Speaker 2: as a government is making sure we've got a big

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Speaker 2: job to do. I mean, like, honestly, I wake up

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Speaker 2: morning going how much how can I not get stuff

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Speaker 2: done yesterday? I mean, like, we've got a hell of

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Speaker 2: a lot to do, and so yeah, look some of it,

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Speaker 2: you know. So frankly, you know that's what I'm focused on, Like,

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Speaker 2: give you a little time.

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Speaker 1: Okay. So the polls I don't want to dwell on

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Speaker 1: because I know what your aunts will be. But there

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Speaker 1: are now three poles, two of them have a change

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Speaker 1: of government. That's telling you something, isn't it.

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Speaker 2: Surely it's telling us that for New Zealanders it's a

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Speaker 2: really tough time and they're going through a lot of

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Speaker 2: economic pain mic and they actually want us to resolve

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Speaker 2: that for them.

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Speaker 3: And that's what we have to do. That is the

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Speaker 3: reality of it.

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Speaker 2: And I'm telling you, if you think about just the

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Speaker 2: last eight weeks since we came back to work, we've

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Speaker 2: been flat out going at it, and we've been talking

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Speaker 2: about saying everything has to be about growth. Why because

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Speaker 2: that's actually how key is going to get ahead. They

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Speaker 2: have more money in their pocket, that's how they power

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Speaker 2: up the economy. So look, I get it a tough time.

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Speaker 2: We've got to focus on the economy and we've got

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Speaker 2: to show you by twenty twenty six that actually they're

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Speaker 2: better off under this government than they would be under.

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Speaker 3: The last lot.

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Speaker 1: Okay, so I suggested to you last week you might

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Speaker 1: be running down a runway. We had Rod Duke of

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Speaker 1: Briscoe's on the program other day. Here's what he said.

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Speaker 4: And I think they will be marked seriously if in fact,

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Speaker 4: by say into March, we don't see some serious initiatives.

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Speaker 3: Is he right? Yeah, Look, I mean I think he's

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Speaker 3: bang on. I mean, there's been some encouraging signs.

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Speaker 2: As we've talked about before around inflation and interest rate,

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Speaker 2: tax relief rising, good levels.

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Speaker 3: Of confidence business, consumer, farm, and all that good stuff.

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Speaker 2: But it's exactly what I was just saying, we need

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Speaker 2: to get this economy moving, and you know it is there,

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Speaker 2: you know, some green sheets. I mean I saw, you know,

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Speaker 2: Brad Olsen saying by the end of the you know,

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Speaker 2: by the end of the year that we forty five

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Speaker 2: million dollars extra week in Kiwis pockets to spend in

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Speaker 2: the economy. That's all good stuff. As interest rates come down.

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Speaker 2: But we've got to keep taking barnacles off this boat

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Speaker 2: and actually get it moving faster. And people have to

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Speaker 2: understand economic growth is everything, because that is actually how

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Speaker 2: we get kewis to be able to get ahead. That's

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Speaker 2: how we make sure our kids have a future here.

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Speaker 2: That's how we get the better public services and standard

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Speaker 2: living that we will want. And we have had some

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Speaker 2: long standing problems for thirty years about what we call

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Speaker 2: economic productivity, and that's what we're focused on, is like,

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Speaker 2: and that's what you're saying, you know, invest New Zealand.

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Speaker 3: We've got to invest. A summit coming up. We've got

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Speaker 3: fast track hit last Friday.

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Speaker 2: We've got trade deals, investment treaty deals that we just

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Speaker 2: did in the UAE. You know, we've got a rolling

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Speaker 2: thunder of constant announcements to remove bark Road.

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Speaker 1: We've got a rolling funder. Sam Sam Stubbs is going

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Speaker 1: to be at that aforementioned summit. He was on the

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Speaker 1: program earlier and I thought he made a very good point.

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Speaker 1: He says, why aren't you dealing with local money better

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Speaker 1: than you are as opposed to bringing an offshore money?

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Speaker 1: So answer that one first. His second part of his

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Speaker 1: question is offshore money needs too many incentives and too

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Speaker 1: many backhands.

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Speaker 2: Like first point, as it's an ad we want to

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Speaker 2: be able to use simplicity, super fund acc other big investors,

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Speaker 2: domestic investors, domestic pools of capital. You know, Sam's done

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Speaker 2: some good thinking around for example Bell to Rent, you know,

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Speaker 2: all that good stuff. So we're up for Sam's involvement

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Speaker 2: and investments.

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Speaker 3: He's a good guy.

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Speaker 2: He understands what's going on and is part of the

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Speaker 2: future what we need, but we also need for on capital.

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Speaker 2: The second thing I'd say is I disagree with that

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Speaker 2: assessment we have. I spent the last year my going

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Speaker 2: around everywhere I go into now so I spent two

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Speaker 2: hours talking to potential.

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Speaker 3: Investors why to see what their appetite is for.

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Speaker 2: New Zealand and the bottom line and the message everywhere

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Speaker 2: I've gone is look, I'm open to New Zealand. I

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Speaker 2: just didn't know what you've got down there, and I

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Speaker 2: didn't feel you had a government that actually welcomed my

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Speaker 2: money and said thank you for coming here. And that's

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Speaker 2: evidence by our low ranking and the OECD.

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Speaker 1: Well, I hope you're right. But what he gave the

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Speaker 1: example of there are research institutes in Ireland run by Huawei.

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Speaker 1: We don't like Huawei because we're suspicious of the Japanese.

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Speaker 1: You've got to pay them. They want incentives, they want money,

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Speaker 1: they want Are we ready to do that? Is that

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Speaker 1: what you're aiming to do?

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Speaker 3: Honestly, there is a world awash with so much cash

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Speaker 3: but with strings attached. No.

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Speaker 1: No, they're not coming here because they love us Christ,

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Speaker 1: but they're coming up to do business and get a

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Speaker 1: return on their money. What's the return and what are

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Speaker 1: you prepared to give away for it?

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Speaker 2: Well, that's what they want to see and that's at

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Speaker 2: the moment don't even know what the investment opportunities are

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Speaker 2: in New Zealand. And that's why we want to have

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Speaker 2: the summit with one hundred people for two days and

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Speaker 2: I'll be there the whole two days making sure they

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Speaker 2: understand that there's lots of opportunities for them to invest

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Speaker 2: here in New Zealand. They invest in infrastructure in other

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Speaker 2: parts of the world, but they don't do that here

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Speaker 2: in New Zealand. They invest in partner with other local

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Speaker 2: companies to make knowledge transfer and international connections and bring

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Speaker 2: some of that skill as well as the cash to

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Speaker 2: help them power up. So you know there's I think

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Speaker 2: we've got along. You know, we actually just have to

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Speaker 2: get share of mind of these investors, which we've failed

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Speaker 2: to do over the last six years. And I see

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Speaker 2: it as a really important part of our economic growth planner,

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Speaker 2: getting investment into the country.

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Speaker 3: We've got capital shortages.

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Speaker 1: Did you see Jamie Beaton's peace in the Herald yesterday?

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Speaker 1: I didn't, actually right, So he runs Crimson. He's a

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Speaker 1: very bright young man. I did a lot of time

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Speaker 1: for his argument is that we need to make Auckland

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Speaker 1: University top fifty in the world, and apart from anything else,

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Speaker 1: there are countries that recognize top fifty universities as being

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Speaker 1: our thing. Is that and essentially he is arguing we

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Speaker 1: need to go out give people licensed to recruit. Dramatically,

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Speaker 1: they're all liberals at universities anyway that love New Zealand,

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Speaker 1: park them there, get them to run their programs and

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Speaker 1: bump Auckland up to the top fifty. Is that possible

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Speaker 1: or is that pie in the sky?

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Speaker 3: Look?

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Speaker 2: I think we want to be improving our academic institutions.

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Speaker 2: That's partly why I put Shane Ritti on universities, but

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Speaker 2: also the science technology innovation area. When you go to

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Speaker 2: other universities around the world, those lecturers are often millionaires.

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Speaker 3: Why is that because they actually get to.

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Speaker 2: Participate in the commercial work that they or the R

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Speaker 2: and D or the science or the inner research that

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Speaker 2: they're doing. They commercialize it and then they bring the

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Speaker 2: money back into the universities and build better programs and

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Speaker 2: attract more researchers and better staff and better lectures all

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Speaker 2: around the world. So that's exactly what we're trying to do,

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Speaker 2: which is, you know, I've got to get people out

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Speaker 2: of the ivory tower of sort of academic research and

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Speaker 2: actually be able to commercialize that, build great businesses off

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Speaker 2: the back of it, and actually participate in that wealth creation.

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Speaker 3: So that's quite normal.

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Speaker 2: You can have academics leading great programs and science innovation

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Speaker 2: around the world at universities, but they participate in their

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Speaker 2: entrepreneurs as well. And that's what We've got to free

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Speaker 2: the system up so that it actually there's more connectivity

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Speaker 2: between business and the universities.

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Speaker 1: And most other bit of reading you want, you won't

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Speaker 1: have seen Gip Nightingale suggestions in the Herald this morning.

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Speaker 1: Have you seen those for tax by sorry, I haven't

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Speaker 1: provide tax concessions to those involved in the building of

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Speaker 1: nationally significant infrastructure. Is that a possibility or not?

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Speaker 2: Well, as you've heard Nicholas say, you know, we've got

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Speaker 2: a range of tax things we're considering as part of

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Speaker 2: a growth budget for May as I say, I don't

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Speaker 2: like my rolling thunder analogy, but watch this space every time.

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Speaker 3: We're just trying to do stuff, so there's more more coming.

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Speaker 1: A secondly, approach taken from employees who receive shares in

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Speaker 1: the company they work could be changed. Rather than apply

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Speaker 1: tax to a portion of the value of the shares,

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Speaker 1: the point of paying tax be deferred. Is that a possibility.

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Speaker 2: Look, I'm well aware of some of the challenges, particularly

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Speaker 2: if you are an overseas KIWI who's done well and

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Speaker 2: you want to bring your capital back to New Zealand.

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Speaker 2: I think Peter Beck and others, are there some tax

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Speaker 2: rules that we need to look at. There's certainly overseas

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Speaker 2: people who want to come to the country. I met

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Speaker 2: some of them on Sunday and we know there are

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Speaker 2: some of those frustrations or impediments that we've got to

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Speaker 2: sort of blow away as well.

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Speaker 1: Exactly. So this is the fIF regime he's talking about.

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Speaker 1: This is people with money overseas and tax and stuff

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Speaker 1: like that. You are open to looking at those sort

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Speaker 1: of changes. That's the sort of thing we.

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Speaker 3: Need them to look exactly exactly.

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Speaker 2: I mean, those are the things that, as I said

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Speaker 2: to you, we're just going to be powering through. And

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Speaker 2: as soon as we get a decision and we're moving

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Speaker 2: forward at pace, I know it's I love coming in

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Speaker 2: your shake Bekers. You always push me hard and say, well,

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Speaker 2: you should have done yesterday Luxelm. But that's that's how

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Speaker 2: I talk to my team site as well. But we're

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Speaker 2: going flat out and every week we just got to

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Speaker 2: keep doing stuff that gets the joint moving and blocked

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Speaker 2: and gets unblocked and going fast.

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Speaker 1: Well, speaking of unblocking, here's Peter's on the program Friday.

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Speaker 4: If somebody is coming to this country like they do

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Speaker 4: to other countries, bringing you fifty million dollars to invest

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Speaker 4: in a huge industry and to ensure that we've got

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Speaker 4: employment with it's no employment now, potential exports with there's

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Speaker 4: no exports in this area now, then we will look

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Speaker 4: at it. Certainly that's always been out of you.

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Speaker 1: Has it always been his view and is he now

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Speaker 1: across the line on the houses?

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Speaker 2: Well, look, I mean, as I said to you the

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Speaker 2: other day, we've got our ongoing conversation in that space.

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Speaker 2: I know, it's a piece of the investment piece where

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Speaker 2: people you know, who want to come here and invest

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Speaker 2: in a business might want to buy a house. It's

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Speaker 2: not the be all and end all and the only

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Speaker 2: thing that matters. There's a lot of other things, I'd.

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Speaker 1: Say, But if you're looking to do stuff to smooth

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Speaker 1: the path, what better way is there to say, see

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Speaker 1: the house in Lake Hayes, it's yours, go for it.

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Speaker 3: Yeah, And so those are ongoing conversation and in.

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Speaker 1: Fact, that's what you said in your speech essentially over

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Speaker 1: the weekend, wasn't it. You know, people who come here

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Speaker 1: with money see something, they've got another idea, and they've

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Speaker 1: got more money, and suddenly they love the place. And

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Speaker 1: what do you do when you love the place? You

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Speaker 1: want to buy a house, don't you.

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Speaker 3: Yeah?

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Speaker 2: I mean that's the thing is like before we had

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Speaker 2: the restrictive settings from the last lot, you know, we

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Speaker 2: were getting two point two billion dollars in from these

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Speaker 2: people in a two year period. Once they're here, they

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Speaker 2: get to build relationships, networks, they trust the system, they

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Speaker 2: understand it better, and they then go spend another one

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Speaker 2: point seven billis exactly the last two years. How much

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Speaker 2: money drin? Can we attract it from overseas investors? In

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Speaker 2: your speech, did you yeah, thirteen projects? You know it's pathetic,

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Speaker 2: So you know, you know this morning people say, oh,

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Speaker 2: this isn't going to work, and it's like, well, no disrespect,

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Speaker 2: but we've seen what happened in the past, we've seen

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Speaker 2: what's happening now, and frankly I want that money. And

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Speaker 2: is why because actually, everyday kiwis are the winners, because

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Speaker 2: that's how businesses grow, that's how they get better jobs.

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Speaker 3: And high incomes. That's what it's ultimately about.

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Speaker 1: Good to talk to you appreciate it. Christopher rolling Thunder Luxeynth.

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Speaker 1: For more from the Mic Asking Breakfast, listen live to

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Speaker 1: news talks that'd be from six am weekdays, or follow

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