1 00:00:00,120 --> 00:00:01,760 Speaker 1: So here we go. Here's the TV and Z poll 2 00:00:01,840 --> 00:00:02,040 Speaker 1: for you. 3 00:00:02,480 --> 00:00:05,520 Speaker 2: National is on thirty eight percent, No change, Labour's on 4 00:00:05,559 --> 00:00:06,800 Speaker 2: thirty percent, up one. 5 00:00:06,920 --> 00:00:09,000 Speaker 1: The Greens are on eleven percent. They're down two. 6 00:00:09,280 --> 00:00:11,520 Speaker 2: Maybe you could put that down to the Darlene Tana 7 00:00:11,920 --> 00:00:14,319 Speaker 2: stuff that's been going on. New Zealand First is on six, 8 00:00:14,400 --> 00:00:17,600 Speaker 2: no change, Actors on seven, No change to Patsibari Marti 9 00:00:17,640 --> 00:00:20,279 Speaker 2: Party is on four up one. Our right blockers in 10 00:00:20,360 --> 00:00:22,520 Speaker 2: fifty one percent, the Left block is on forty five percent. 11 00:00:22,600 --> 00:00:24,640 Speaker 2: And in terms of the preferred prime minister, the real 12 00:00:24,720 --> 00:00:27,560 Speaker 2: number there that is the most interesting is Chris luxon 13 00:00:27,640 --> 00:00:30,840 Speaker 2: thirty eight percent, up five. Now Nicola Willis as the 14 00:00:30,880 --> 00:00:34,320 Speaker 2: finance minister. Henikler, Hi you that, Hey, so that's pretty 15 00:00:34,360 --> 00:00:35,800 Speaker 2: good for the prime minister in that polin. 16 00:00:37,000 --> 00:00:41,360 Speaker 3: Yeah, good to say get our support and really, look, 17 00:00:41,479 --> 00:00:43,760 Speaker 3: we don't watch the polls too clostly. They go up 18 00:00:43,800 --> 00:00:46,440 Speaker 3: and down, but I think New Zealanders can see that 19 00:00:46,479 --> 00:00:49,320 Speaker 3: we're doing the things that we said with those and 20 00:00:49,400 --> 00:00:52,800 Speaker 3: the best news that's come as that interest rate reaction, 21 00:00:52,960 --> 00:00:54,800 Speaker 3: which is going to make a big difference to many 22 00:00:54,800 --> 00:00:55,840 Speaker 3: families and businesses. 23 00:00:56,000 --> 00:00:57,960 Speaker 1: Yeah, you're talking about the ocr cut last week. 24 00:00:59,000 --> 00:01:03,200 Speaker 3: That's right, and I understand came after the poll had 25 00:01:03,280 --> 00:01:06,800 Speaker 3: been completed, So I imagine that that will make a big 26 00:01:06,800 --> 00:01:07,920 Speaker 3: difference across the country. 27 00:01:07,959 --> 00:01:09,560 Speaker 2: Yeah, are you joining the rest of us who are 28 00:01:09,640 --> 00:01:12,200 Speaker 2: levelheaded and calling this thing a flip flop by Adrian. 29 00:01:11,959 --> 00:01:15,600 Speaker 3: Or Well, it's not for me to say that sort 30 00:01:15,600 --> 00:01:18,840 Speaker 3: of thing, because there is a bank independently make their 31 00:01:18,920 --> 00:01:23,600 Speaker 3: decisions about interest rates, and I independently make our decisions 32 00:01:23,600 --> 00:01:26,840 Speaker 3: about fiscal policy, and we leave it like that. We're 33 00:01:26,959 --> 00:01:28,479 Speaker 3: very polite about each other. 34 00:01:28,640 --> 00:01:31,880 Speaker 2: Are there any days where you go I regret leaving 35 00:01:31,959 --> 00:01:32,640 Speaker 2: him in the job? 36 00:01:34,240 --> 00:01:36,920 Speaker 3: Well, it hasn't been a decision for me either. That 37 00:01:37,040 --> 00:01:40,280 Speaker 3: was an appointment made by the outgoing government, and it's 38 00:01:40,280 --> 00:01:42,600 Speaker 3: not a decision over which I had influenced. 39 00:01:42,680 --> 00:01:44,520 Speaker 2: Have you gone to look at the grounds under which 40 00:01:44,520 --> 00:01:46,399 Speaker 2: you may be able to recall them from the job 41 00:01:46,440 --> 00:01:46,880 Speaker 2: at all? 42 00:01:48,520 --> 00:01:51,960 Speaker 3: Well, one that appointment is made, that's a decision that 43 00:01:51,960 --> 00:01:53,960 Speaker 3: can only be made by the Reserve Bank Board. 44 00:01:55,680 --> 00:01:59,400 Speaker 1: So you have gone to look at it. Frankly, I 45 00:01:59,440 --> 00:02:00,920 Speaker 1: would have I was in your position. 46 00:02:01,960 --> 00:02:04,960 Speaker 3: I think the backstory here for everyone who's listening is 47 00:02:05,000 --> 00:02:08,000 Speaker 3: that when Grant Robertson said he was going to make 48 00:02:08,040 --> 00:02:11,720 Speaker 3: that reappointment. We wrote to him and said, hey, hey, hey, 49 00:02:12,360 --> 00:02:15,239 Speaker 3: don't do that, and we have actually reviewed some of 50 00:02:15,280 --> 00:02:18,480 Speaker 3: these extraordinary monetary policy decisions that were made which we 51 00:02:18,639 --> 00:02:22,720 Speaker 3: frankly think the Reserve Bank got wrong. We propose your 52 00:02:22,720 --> 00:02:25,520 Speaker 3: appointment for a short term period a year, do an 53 00:02:25,520 --> 00:02:28,480 Speaker 3: external review, and then we can then the Income and 54 00:02:28,520 --> 00:02:31,160 Speaker 3: Government can decide whether or not to reappoint him. We 55 00:02:31,200 --> 00:02:34,440 Speaker 3: thought that was a good way of getting through. Grant 56 00:02:34,520 --> 00:02:36,280 Speaker 3: Robertson rejected that approcess. 57 00:02:36,520 --> 00:02:37,559 Speaker 1: Are we Why. 58 00:02:39,520 --> 00:02:42,760 Speaker 3: No, he didn't. He wrote that and just simply rejected that. 59 00:02:42,919 --> 00:02:44,800 Speaker 3: And I thought it was a shame because there's always 60 00:02:44,880 --> 00:02:50,480 Speaker 3: been a degree of unity over Reserve Bank appointments because 61 00:02:50,480 --> 00:02:53,679 Speaker 3: we like to keep that institution and dependent in non 62 00:02:53,680 --> 00:02:55,239 Speaker 3: political Nichola. 63 00:02:54,960 --> 00:02:57,280 Speaker 2: Listen, this is something you actually do have complete control 64 00:02:57,360 --> 00:02:58,280 Speaker 2: over as a government. 65 00:02:58,320 --> 00:02:59,440 Speaker 1: What is going on with you. 66 00:02:59,440 --> 00:03:01,520 Speaker 2: Guys race using the amount of money that you're going 67 00:03:01,560 --> 00:03:03,640 Speaker 2: to be charging tourists when they land here. 68 00:03:05,360 --> 00:03:08,760 Speaker 3: Well, as you know, tourists get a great experience in 69 00:03:08,840 --> 00:03:13,120 Speaker 3: New Zealand, and that doesn't come cost free to New Zealanders. 70 00:03:13,160 --> 00:03:17,840 Speaker 3: Looking after our national parks, our conservation estate, ensuring that 71 00:03:17,880 --> 00:03:21,400 Speaker 3: we have good facilities, from public bathrooms, through the roads, 72 00:03:21,440 --> 00:03:24,840 Speaker 3: through the bridges. We think it's appropriate for tourists to 73 00:03:24,919 --> 00:03:27,720 Speaker 3: make a contribution to all of that. It's not unusual 74 00:03:27,760 --> 00:03:30,280 Speaker 3: around the world that you pay av as a tourist 75 00:03:30,320 --> 00:03:34,119 Speaker 3: going to another country, and so we've been consulting on 76 00:03:34,200 --> 00:03:36,800 Speaker 3: where people think that LEADE should sit, and we think 77 00:03:36,800 --> 00:03:38,560 Speaker 3: it's a perfectly reasonable thing to do. I want to 78 00:03:38,560 --> 00:03:40,840 Speaker 3: see the tourism industry grow. I want to see more 79 00:03:40,880 --> 00:03:43,080 Speaker 3: tourists be there more money in New Zealand. But they 80 00:03:43,120 --> 00:03:45,600 Speaker 3: also want to see them contributing their fair share when 81 00:03:45,600 --> 00:03:46,280 Speaker 3: they come here. 82 00:03:46,360 --> 00:03:48,200 Speaker 2: But is it worth doing it at the cost to 83 00:03:48,240 --> 00:03:51,280 Speaker 2: our tourism industry because it's going to deter a bunch 84 00:03:51,320 --> 00:03:55,040 Speaker 2: of people, about one hundred thousand of them apparently, Well, no, I. 85 00:03:55,000 --> 00:03:58,560 Speaker 3: Don't think that those numbers are right. The advice that 86 00:03:58,600 --> 00:04:02,480 Speaker 3: we've received is that could have a small impact at 87 00:04:02,520 --> 00:04:05,400 Speaker 3: the margin, but it's actually quite hard to model. And 88 00:04:05,480 --> 00:04:07,880 Speaker 3: of course the context here is by the time you 89 00:04:07,960 --> 00:04:11,040 Speaker 3: decide to come to New Zealand, you're already deciding to 90 00:04:11,120 --> 00:04:13,920 Speaker 3: pay a pretty big yar fare and you're coming to 91 00:04:13,960 --> 00:04:15,320 Speaker 3: the other side of the world. So this is a 92 00:04:15,400 --> 00:04:17,880 Speaker 3: bly marginal cost in that context. 93 00:04:18,120 --> 00:04:21,240 Speaker 2: So MB itself says about one hundred thousand people we 94 00:04:21,360 --> 00:04:24,320 Speaker 2: deterred just this is just by the international visitor levy 95 00:04:24,360 --> 00:04:26,200 Speaker 2: going up. Never mind the visit of visa costs right, 96 00:04:26,279 --> 00:04:28,080 Speaker 2: one hundred thousand people not going to come here. That 97 00:04:28,120 --> 00:04:30,400 Speaker 2: costs US six hundred million dollars in lost money. You 98 00:04:30,400 --> 00:04:33,000 Speaker 2: don't think that's right, Well, I. 99 00:04:33,120 --> 00:04:35,839 Speaker 3: Think it's I think it depends on a number of factors, 100 00:04:35,880 --> 00:04:39,440 Speaker 3: and I think that many people still come to choose 101 00:04:40,920 --> 00:04:43,880 Speaker 3: to New Zealand and in particular. I think there's actually 102 00:04:43,920 --> 00:04:46,120 Speaker 3: a proposition for us to say to tourist, hey, look 103 00:04:46,120 --> 00:04:47,880 Speaker 3: when you got yeah, yeah, you do pay levy, but 104 00:04:47,920 --> 00:04:50,480 Speaker 3: you also get to see some of the best national 105 00:04:50,560 --> 00:04:54,279 Speaker 3: parks in the world, and that funding helps preserve flora 106 00:04:54,400 --> 00:04:56,840 Speaker 3: and fauna which are indigenous to New Zealand, which are 107 00:04:56,839 --> 00:05:00,839 Speaker 3: really special as part of your experience is being contributed 108 00:05:00,880 --> 00:05:01,440 Speaker 3: to by the US. 109 00:05:01,480 --> 00:05:03,720 Speaker 1: Okay, well, where are these people coming from? 110 00:05:03,760 --> 00:05:06,839 Speaker 2: Because the thing is that the Chinese markets collapse, so 111 00:05:06,880 --> 00:05:08,159 Speaker 2: who are we replacing them with. 112 00:05:09,680 --> 00:05:13,680 Speaker 3: Well, we have seen an uptick interests from North America 113 00:05:13,760 --> 00:05:16,080 Speaker 3: in particular, but I want to see those Chinese tourists 114 00:05:16,160 --> 00:05:19,400 Speaker 3: coming back as well. So My view is that New 115 00:05:19,480 --> 00:05:22,920 Speaker 3: Zealand does well when we have lots of tourists coming here, 116 00:05:22,960 --> 00:05:26,320 Speaker 3: spending lots of money from lots of different markets. I 117 00:05:26,320 --> 00:05:28,400 Speaker 3: think there's a side to that, which is if we 118 00:05:28,400 --> 00:05:31,600 Speaker 3: want New Zealanders to support tourism growing as an industry, 119 00:05:31,640 --> 00:05:33,720 Speaker 3: and I do want them to, I think they need 120 00:05:33,760 --> 00:05:36,640 Speaker 3: to see that we're actually able to fund the infrastructure 121 00:05:36,720 --> 00:05:40,479 Speaker 3: he to support that up tick in tourism. So I 122 00:05:40,520 --> 00:05:43,159 Speaker 3: think there's books under way to make sure we're growing 123 00:05:43,200 --> 00:05:46,239 Speaker 3: markets internationally. Markets will come and go, and the point 124 00:05:46,320 --> 00:05:48,080 Speaker 3: is overall, you want to have a lot of options 125 00:05:48,400 --> 00:05:49,040 Speaker 3: if it comes. 126 00:05:49,120 --> 00:05:51,600 Speaker 2: Let's say we are five years down the track, because 127 00:05:51,640 --> 00:05:54,440 Speaker 2: we still haven't recovered from the tourism numbers that we 128 00:05:54,480 --> 00:05:56,720 Speaker 2: saw pre COVID, right, we're still seventeen percent down on it. 129 00:05:57,200 --> 00:05:58,800 Speaker 2: If it comes to a couple of years from now 130 00:05:58,800 --> 00:06:00,920 Speaker 2: you're facing an election and then but still haven't recovered, 131 00:06:00,920 --> 00:06:02,479 Speaker 2: will you guys admit that you made a mistake. 132 00:06:04,200 --> 00:06:07,720 Speaker 3: Well, I am wanting to do everything we can to 133 00:06:07,760 --> 00:06:10,200 Speaker 3: increase those numbers over the next little while. I was 134 00:06:10,240 --> 00:06:14,040 Speaker 3: in Rusher on Friday meeting with some of the incredible 135 00:06:14,080 --> 00:06:17,720 Speaker 3: Adventure tourism and culptural tourism operators there. They have an 136 00:06:17,720 --> 00:06:21,800 Speaker 3: incredible offering. They have big capacity to take more tourists 137 00:06:22,120 --> 00:06:25,159 Speaker 3: and part of what that is is the marketing that 138 00:06:25,240 --> 00:06:27,680 Speaker 3: we do for those destinations of making sure that people 139 00:06:27,720 --> 00:06:30,040 Speaker 3: are aware of it, getting the word out. And that's 140 00:06:30,080 --> 00:06:31,880 Speaker 3: the other piece that we as a government of picking 141 00:06:31,960 --> 00:06:34,200 Speaker 3: up is how do we do that marketing more sensibly 142 00:06:34,240 --> 00:06:37,080 Speaker 3: and make sure we're connecting tourists to New Zealand. 143 00:06:37,680 --> 00:06:40,640 Speaker 2: Now Nicola, TV and Z. I'm getting a little bit 144 00:06:40,720 --> 00:06:42,520 Speaker 2: nervous about TV and Z because I can see that, 145 00:06:42,640 --> 00:06:44,880 Speaker 2: especially with the sport play that they're making, that's that's 146 00:06:44,920 --> 00:06:47,240 Speaker 2: quite a high risk thing and they're hoping that we're 147 00:06:47,240 --> 00:06:48,640 Speaker 2: going to pay for it and want to pay you 148 00:06:48,760 --> 00:06:50,320 Speaker 2: want to subscribe and pay for all of the sport 149 00:06:50,360 --> 00:06:53,000 Speaker 2: that they're going to buy for a huge time. How 150 00:06:53,080 --> 00:06:56,080 Speaker 2: do we ensure that if this whole thing blows up 151 00:06:56,080 --> 00:06:58,760 Speaker 2: in their faces, taxpayers are not lumped with the cost. 152 00:07:00,320 --> 00:07:03,240 Speaker 3: Well, the way that TVNZ works at the moment, we 153 00:07:03,520 --> 00:07:08,400 Speaker 3: expect TV to make commercial decisions and generate commercial revenue 154 00:07:08,440 --> 00:07:11,960 Speaker 3: for those decisions. So if they are able to make plays, 155 00:07:11,960 --> 00:07:13,960 Speaker 3: if they think there's going to be advertising, they think 156 00:07:14,000 --> 00:07:16,000 Speaker 3: there's going to be money available to them if they 157 00:07:16,080 --> 00:07:18,440 Speaker 3: do that, but if it doesn't work out, they're hardly 158 00:07:18,480 --> 00:07:20,120 Speaker 3: going to be able to fund them into the future. 159 00:07:20,240 --> 00:07:24,160 Speaker 3: So like any commercial business, sometimes they are going to 160 00:07:24,200 --> 00:07:26,800 Speaker 3: take some risks, but they should be calculated risks. 161 00:07:26,920 --> 00:07:28,800 Speaker 2: Yeah, he is hoping. Hey Nicola, thank you very much, 162 00:07:28,840 --> 00:07:31,600 Speaker 2: really appreciate your time this. Nikota will list the Finance Minister. 163 00:07:31,960 --> 00:07:35,160 Speaker 1: For more from Heather Duplessy Allen Drive. Listen live to 164 00:07:35,240 --> 00:07:38,239 Speaker 1: news talks there'd be from four pm weekdays, or follow 165 00:07:38,280 --> 00:07:40,040 Speaker 1: the podcast on iHeartRadio.