1 00:00:00,040 --> 00:00:02,480 Speaker 1: Krystopa Luxon is with us. Very good morning to you, MORTI, 2 00:00:02,560 --> 00:00:04,000 Speaker 1: Mike how I am very well and die A couple 3 00:00:04,000 --> 00:00:06,800 Speaker 1: of issues, so neil quickly Friday night. Yep. How big 4 00:00:06,840 --> 00:00:11,119 Speaker 1: a mess reputationally does this look for the Reserve Bank? 5 00:00:11,160 --> 00:00:12,320 Speaker 1: Both quickly and or. 6 00:00:12,960 --> 00:00:14,680 Speaker 2: I don't think it's a mess at all. I think 7 00:00:14,680 --> 00:00:16,079 Speaker 2: it would have been more of a shambles if it 8 00:00:16,079 --> 00:00:18,680 Speaker 2: had carried on much longer. Frankly, I think you know 9 00:00:18,760 --> 00:00:21,440 Speaker 2: there were issues there around the handling of the employment 10 00:00:21,440 --> 00:00:24,240 Speaker 2: issue with the governor that wasn't as fully transparent as 11 00:00:24,239 --> 00:00:26,000 Speaker 2: it needed to be. You heard Nicola express her own 12 00:00:26,040 --> 00:00:28,440 Speaker 2: happiness about it, and I think he made the right 13 00:00:28,440 --> 00:00:30,960 Speaker 2: decision actually thinking about any reputational damage that would have 14 00:00:31,000 --> 00:00:31,360 Speaker 2: carried on. 15 00:00:31,520 --> 00:00:34,040 Speaker 1: Were you was unhappy with him, as Nikola was. 16 00:00:34,400 --> 00:00:36,800 Speaker 2: Well again, I think you know, Nicola and I very aligned. 17 00:00:36,800 --> 00:00:38,520 Speaker 2: You know, we're unhappy with the handling of it. It could 18 00:00:38,520 --> 00:00:42,000 Speaker 2: have been much better done and more transparent. But you know, 19 00:00:42,040 --> 00:00:43,560 Speaker 2: at the end of the day, he's done fifteen years 20 00:00:43,560 --> 00:00:46,520 Speaker 2: with a service, he's delivered a capital rules reset, he's 21 00:00:46,680 --> 00:00:49,080 Speaker 2: advancing well a new governor, which will be something we 22 00:00:49,120 --> 00:00:52,199 Speaker 2: hope to announce shortly so right, decision to go. 23 00:00:52,320 --> 00:00:53,360 Speaker 1: Do you know who the governor is. 24 00:00:54,240 --> 00:00:56,360 Speaker 2: We've got a couple of candidate. We're in a process 25 00:00:56,400 --> 00:00:58,680 Speaker 2: at the moment, so I so that's days weeks, Yeah, 26 00:00:58,720 --> 00:00:59,400 Speaker 2: that'll be weeks. 27 00:00:59,480 --> 00:01:02,120 Speaker 1: Yea. Where's the avana itself? So as opposed to their 28 00:01:02,160 --> 00:01:05,520 Speaker 1: where's the chairman? Have you got someone lined up a chair? 29 00:01:05,560 --> 00:01:06,120 Speaker 2: A step done? 30 00:01:06,319 --> 00:01:08,720 Speaker 1: Okay? And for what the foreseeable or. 31 00:01:08,800 --> 00:01:11,040 Speaker 2: Well that will be worked out in the coming weeks. Yeah, okay. 32 00:01:11,440 --> 00:01:15,160 Speaker 1: As far as the money is concerned for or at 33 00:01:15,200 --> 00:01:16,880 Speaker 1: the start, it looked like you give the guy some 34 00:01:16,920 --> 00:01:19,160 Speaker 1: money to go away. Now it looks like he packs 35 00:01:19,160 --> 00:01:22,080 Speaker 1: a mass of sad. The chairman packs a mess of sad. 36 00:01:22,160 --> 00:01:25,200 Speaker 1: Everyone's stamping their feet being children. How come he got 37 00:01:25,200 --> 00:01:26,000 Speaker 1: money to go away? 38 00:01:26,480 --> 00:01:29,280 Speaker 2: Well, those will be tied to his employment contracts that 39 00:01:29,319 --> 00:01:31,240 Speaker 2: he'll have with the with the board, and that'll be 40 00:01:31,319 --> 00:01:34,880 Speaker 2: arrangements between obviously chair and CEOs as you'd expect in 41 00:01:34,959 --> 00:01:37,160 Speaker 2: any other rules. And you're comfortable with that, Yeah, Well, 42 00:01:37,160 --> 00:01:40,400 Speaker 2: we've got to uphold employment contracts and that's what and 43 00:01:40,440 --> 00:01:42,559 Speaker 2: that's that. You know, we don't employ them, We don't 44 00:01:42,560 --> 00:01:44,680 Speaker 2: have influence over how they spend money. What we agreed 45 00:01:44,720 --> 00:01:47,680 Speaker 2: as five year funding agreements as you know, which we've 46 00:01:47,720 --> 00:01:50,160 Speaker 2: had some you know, pretty tough conversations around, which I 47 00:01:50,200 --> 00:01:52,920 Speaker 2: think is in the public record. But ultimately, what the 48 00:01:52,920 --> 00:01:55,440 Speaker 2: employment contracts are we have to you know, that's that's 49 00:01:55,600 --> 00:01:56,480 Speaker 2: you know, that's up to boards. 50 00:01:56,680 --> 00:01:59,920 Speaker 1: Is there a lesson here for other government departments or agency? 51 00:02:00,120 --> 00:02:03,560 Speaker 1: Is that this sort of official information act on Woodsman. 52 00:02:03,720 --> 00:02:06,760 Speaker 1: Let's keep it quiet, let's not say anything. Someone needs 53 00:02:06,760 --> 00:02:08,320 Speaker 1: to wire the be transparent war. 54 00:02:08,720 --> 00:02:10,880 Speaker 2: I think I think truth is always the best policy, right. 55 00:02:10,960 --> 00:02:12,480 Speaker 2: I think that's the takeaway from all of this. 56 00:02:12,760 --> 00:02:17,400 Speaker 1: Okay, now I ask you one more time. God, this 57 00:02:17,480 --> 00:02:21,040 Speaker 1: is foreign biased? Isn't that it is foreign biased? Is 58 00:02:21,440 --> 00:02:24,520 Speaker 1: today the day? Are we any closer to being able? 59 00:02:24,520 --> 00:02:26,360 Speaker 2: We are very close to, Mike, And I've said that 60 00:02:26,400 --> 00:02:28,600 Speaker 2: now for the last seven weeks. I think you've been 61 00:02:28,639 --> 00:02:30,560 Speaker 2: hammering me on this point every single week. 62 00:02:30,639 --> 00:02:31,079 Speaker 1: That's right. 63 00:02:31,320 --> 00:02:32,880 Speaker 2: So I hope to have something to say very shortly 64 00:02:32,919 --> 00:02:39,280 Speaker 2: about it when eminently eminently within within within but before 65 00:02:39,280 --> 00:02:41,240 Speaker 2: we meet next time, within a week. 66 00:02:41,440 --> 00:02:43,679 Speaker 1: So this week, so this is the week that could 67 00:02:43,720 --> 00:02:46,440 Speaker 1: well be Okay, why has it taken seven weeks? 68 00:02:47,000 --> 00:02:49,080 Speaker 2: Well, there's I mean, you've got a situation where as 69 00:02:49,120 --> 00:02:51,400 Speaker 2: you know, we went to a policy saying we actually 70 00:02:51,400 --> 00:02:55,080 Speaker 2: wanted to unwind their foreign by bant. You've got equally 71 00:02:55,080 --> 00:02:57,440 Speaker 2: a position from New Zealand first, which is that they 72 00:02:57,440 --> 00:03:00,840 Speaker 2: didn't want any of that, and fair enough, we agreed 73 00:03:00,919 --> 00:03:04,240 Speaker 2: not to do any of that, and I sus suspect 74 00:03:04,280 --> 00:03:06,320 Speaker 2: what I'll end up announcing will end up announcing will 75 00:03:06,360 --> 00:03:08,200 Speaker 2: be a compromise where neither of us is one hundred 76 00:03:08,200 --> 00:03:11,120 Speaker 2: percent happy. But we've found a way to do something 77 00:03:11,160 --> 00:03:15,000 Speaker 2: that actually will actually support investors in particular coming into 78 00:03:15,000 --> 00:03:18,600 Speaker 2: New Zealand so they can purchase the house ultimately, and 79 00:03:18,880 --> 00:03:21,120 Speaker 2: it equally it also drives some trade activity as well, 80 00:03:21,160 --> 00:03:22,320 Speaker 2: for tradees good. 81 00:03:22,440 --> 00:03:25,520 Speaker 1: So in making this announcement this week, I'm assuming that 82 00:03:25,600 --> 00:03:26,600 Speaker 1: it gets sorted today. 83 00:03:28,080 --> 00:03:31,200 Speaker 2: Cabinets today, I can't possibly talk about kebnet as you know. 84 00:03:31,320 --> 00:03:32,720 Speaker 2: No I know, but you're about to put me up 85 00:03:32,760 --> 00:03:35,600 Speaker 2: against a wall and just no, I'm just sick of 86 00:03:35,680 --> 00:03:37,600 Speaker 2: asking the question answering. 87 00:03:39,360 --> 00:03:41,160 Speaker 1: I just the reason I asked the question, one more 88 00:03:41,200 --> 00:03:43,000 Speaker 1: week of this, Well, it can't be one more week 89 00:03:43,000 --> 00:03:46,560 Speaker 1: because he said it's this week exactly, So it is 90 00:03:46,680 --> 00:03:49,600 Speaker 1: it is this week. Can you explain from Winston. Peter's 91 00:03:49,600 --> 00:03:50,480 Speaker 1: point of view. 92 00:03:50,960 --> 00:03:53,440 Speaker 2: What his problem has been, Well, I think you know, 93 00:03:53,480 --> 00:03:56,920 Speaker 2: they've had a long standing position around foreign investment and 94 00:03:56,920 --> 00:03:59,600 Speaker 2: in fairness to Winston and also New Zealand first, and 95 00:04:00,040 --> 00:04:03,800 Speaker 2: I think they've actually been they've actually really understood quality investment. 96 00:04:04,160 --> 00:04:05,680 Speaker 2: And I think, you know, in fairness, there was a 97 00:04:05,720 --> 00:04:07,760 Speaker 2: question around a lot of what we've seen in the 98 00:04:07,800 --> 00:04:11,360 Speaker 2: past with has been speculative investment. So if you think 99 00:04:11,400 --> 00:04:14,200 Speaker 2: about it, people coming and buying houses, flipping houses, none 100 00:04:14,200 --> 00:04:17,120 Speaker 2: of that adds any value to New Zealand productively as 101 00:04:17,160 --> 00:04:19,480 Speaker 2: an economy, and so you're trying to find the way 102 00:04:19,480 --> 00:04:22,280 Speaker 2: in which you can support productive investment that actually does 103 00:04:22,320 --> 00:04:25,640 Speaker 2: help our economy sort of grow. We've had massive challenges 104 00:04:25,640 --> 00:04:30,800 Speaker 2: with foreign investment. We've attracted zero capital sovereign wealth funds 105 00:04:30,839 --> 00:04:33,560 Speaker 2: for the major public infrastructure. We're doing a good job 106 00:04:33,600 --> 00:04:36,000 Speaker 2: in there, We've got more to do. Equally, if you 107 00:04:36,040 --> 00:04:38,720 Speaker 2: think about the active investivies a like, I think we've 108 00:04:38,720 --> 00:04:41,920 Speaker 2: had something like close to one point eight billion come 109 00:04:41,960 --> 00:04:44,640 Speaker 2: in since we made the change on April one. It 110 00:04:44,720 --> 00:04:46,359 Speaker 2: was more in the first two months than it was 111 00:04:46,400 --> 00:04:46,640 Speaker 2: in the. 112 00:04:46,560 --> 00:04:48,800 Speaker 1: Previous three years. One of them can buy a house. 113 00:04:48,640 --> 00:04:51,359 Speaker 2: So that's why how ridiculus link that together? So watched 114 00:04:51,360 --> 00:04:52,040 Speaker 2: the Space. 115 00:04:51,960 --> 00:04:53,880 Speaker 1: Okay, so I am watching that, and so I will 116 00:04:53,880 --> 00:04:57,120 Speaker 1: watch this afternoon. What I want to know is you 117 00:04:57,200 --> 00:04:58,880 Speaker 1: and we will get them on and ask him. But 118 00:04:58,960 --> 00:05:01,320 Speaker 1: say it's four or five, seven million, whatever it was 119 00:05:01,560 --> 00:05:04,200 Speaker 1: the election you were to So maybe two's too low. 120 00:05:04,240 --> 00:05:05,920 Speaker 2: And I think we got I think we got the number, 121 00:05:05,920 --> 00:05:07,960 Speaker 2: as I said before, too low. And I think we 122 00:05:08,040 --> 00:05:10,320 Speaker 2: had a complication to it all and probably didn't get 123 00:05:10,320 --> 00:05:12,760 Speaker 2: our policy one hundred percent right either. And that's why 124 00:05:12,760 --> 00:05:14,520 Speaker 2: I think there's a you know, that's why we've been 125 00:05:15,839 --> 00:05:16,279 Speaker 2: that's five. 126 00:05:16,320 --> 00:05:17,960 Speaker 1: And let's say you've got to live in it. For example, 127 00:05:18,000 --> 00:05:19,840 Speaker 1: So you come in with your golden visa, you put 128 00:05:19,880 --> 00:05:22,080 Speaker 1: ten million dollars into the economy, you spend five on 129 00:05:22,120 --> 00:05:24,919 Speaker 1: your house, you live in your house. What's Winston's objection 130 00:05:25,000 --> 00:05:25,320 Speaker 1: to that? 131 00:05:25,600 --> 00:05:27,680 Speaker 2: Well, I don't think there is, That's what I'm saying here. 132 00:05:27,680 --> 00:05:30,360 Speaker 2: I think he's been quite sensible actually about making sure 133 00:05:30,400 --> 00:05:33,960 Speaker 2: that we're not driving speculation, that we actually are driving 134 00:05:34,000 --> 00:05:37,240 Speaker 2: productive investment. And I think you know, Winston, you will 135 00:05:37,279 --> 00:05:39,479 Speaker 2: often talk about as I do about Singapore or the 136 00:05:39,520 --> 00:05:42,840 Speaker 2: Irelands of the world, and we've realized collectively that there 137 00:05:42,920 --> 00:05:45,600 Speaker 2: is a real challenge around, you know, getting investment into 138 00:05:45,640 --> 00:05:48,080 Speaker 2: New Zealand. So I actually think he's been very reasonable 139 00:05:48,120 --> 00:05:50,480 Speaker 2: in his position, but he's also holding us to account 140 00:05:50,760 --> 00:05:52,599 Speaker 2: to say, hey, listen, I want to be reassured that 141 00:05:52,640 --> 00:05:54,719 Speaker 2: this isn't just going to drive speculative. 142 00:05:55,080 --> 00:05:56,240 Speaker 1: So all you do is you say you've got to 143 00:05:56,279 --> 00:05:57,680 Speaker 1: live in your house or do something like that. 144 00:05:57,680 --> 00:05:58,560 Speaker 2: There's lots of ways for it. 145 00:05:58,640 --> 00:05:59,760 Speaker 1: Yeah, but okay, what are the other ways? 146 00:06:00,080 --> 00:06:02,320 Speaker 2: Have to wait and see? Okay, this feels like a 147 00:06:02,400 --> 00:06:04,080 Speaker 2: John Dawes John Plas. 148 00:06:05,080 --> 00:06:06,960 Speaker 1: All I want is it, as I keep telling you, 149 00:06:08,839 --> 00:06:10,880 Speaker 1: I want. I want this country up and running and 150 00:06:10,920 --> 00:06:13,520 Speaker 1: pulling every level we can to make exactly easy to 151 00:06:13,560 --> 00:06:14,000 Speaker 1: do business. 152 00:06:14,320 --> 00:06:17,320 Speaker 2: Exactly that's right. So I think what we've both come 153 00:06:17,400 --> 00:06:19,440 Speaker 2: to realization is, hey, listen, if we've got people who 154 00:06:19,440 --> 00:06:21,680 Speaker 2: are coming here to put quality investment into New Zealand, 155 00:06:21,960 --> 00:06:24,400 Speaker 2: it's perverse that they can't own a house. How we 156 00:06:24,520 --> 00:06:26,800 Speaker 2: do that to make sure that we actually can reassure 157 00:06:26,800 --> 00:06:30,159 Speaker 2: ourselves that it is actually proper investment activity that's happening, 158 00:06:30,200 --> 00:06:32,120 Speaker 2: not speculation, sure, which is what I think. 159 00:06:32,560 --> 00:06:35,920 Speaker 1: And so if we ring in booked Winston and for tomorrow. 160 00:06:35,920 --> 00:06:37,840 Speaker 1: Would he be available to come on and talk about this? 161 00:06:37,880 --> 00:06:40,200 Speaker 1: Would he be well, I mean, I'm sure he loves 162 00:06:40,240 --> 00:06:43,280 Speaker 1: coming to talk to you. I'm sure multimately all right, 163 00:06:43,320 --> 00:06:45,720 Speaker 1: we'll stand by Brian Roche in the mergers. Is this real? 164 00:06:45,920 --> 00:06:47,240 Speaker 1: And the government departments? 165 00:06:47,360 --> 00:06:49,680 Speaker 2: Yeah. Look, I mean I've asked Brian Roach, who's a 166 00:06:49,720 --> 00:06:51,600 Speaker 2: really seasoned guy, to take on that role as Public 167 00:06:51,680 --> 00:06:54,320 Speaker 2: Service Commissioner. I think he's excellent. I think he knows 168 00:06:54,440 --> 00:06:56,600 Speaker 2: machinery of government well. But he's also given him a 169 00:06:56,600 --> 00:06:58,880 Speaker 2: brief to say, make this thing more efficient and make 170 00:06:58,920 --> 00:07:01,280 Speaker 2: it delivered. I think there's two things you can do. 171 00:07:01,440 --> 00:07:03,520 Speaker 2: One is you could you can restructure to get rid 172 00:07:03,600 --> 00:07:05,839 Speaker 2: of the back office functions of lots of agencies. You'll 173 00:07:05,839 --> 00:07:09,600 Speaker 2: find endless government departments. Agencies replicate the people function that 174 00:07:09,760 --> 00:07:12,640 Speaker 2: it function, that counting your function, all that stuff. You 175 00:07:12,680 --> 00:07:15,160 Speaker 2: could simplify a lot of that. And the second thing 176 00:07:15,200 --> 00:07:18,120 Speaker 2: that I think is important is that my vision, as 177 00:07:18,120 --> 00:07:19,760 Speaker 2: I said to him, is I want to see these 178 00:07:20,080 --> 00:07:24,720 Speaker 2: government agencies as large service organizations having a customer delivering 179 00:07:24,760 --> 00:07:26,679 Speaker 2: for a customer who happens with the public of New Zealand. 180 00:07:26,680 --> 00:07:29,560 Speaker 2: And it's not a customer mentality in the public service sufficiently. 181 00:07:30,080 --> 00:07:33,360 Speaker 2: So you can do that partly through restructuring. As he's 182 00:07:33,360 --> 00:07:36,080 Speaker 2: looking at a series of proposals, nothing's come to cabinet. 183 00:07:36,080 --> 00:07:38,520 Speaker 2: We haven't had a discussion about it. I appreciate there's 184 00:07:38,520 --> 00:07:42,120 Speaker 2: media reporting of possibilities. But the other thing that I 185 00:07:42,120 --> 00:07:45,720 Speaker 2: think is really important is embracing technology, because actually, when 186 00:07:45,760 --> 00:07:48,400 Speaker 2: you embrace technology, as I found in business, you know, 187 00:07:48,440 --> 00:07:51,320 Speaker 2: you actually end up backward engineering your systems and your 188 00:07:51,360 --> 00:07:54,640 Speaker 2: processes and your structure to actually serve a customer. You know, 189 00:07:54,680 --> 00:07:55,520 Speaker 2: through technology. 190 00:07:55,680 --> 00:07:57,360 Speaker 1: Shouldn't you have done this the first time round when 191 00:07:57,360 --> 00:07:58,800 Speaker 1: you got rid of the two thousand people. 192 00:07:59,360 --> 00:08:01,720 Speaker 2: Well, I just think there's ongoing work that's needed. I mean, 193 00:08:02,040 --> 00:08:05,760 Speaker 2: you know, you're trying to think about the first eighty months. 194 00:08:05,800 --> 00:08:07,880 Speaker 2: You know we're coming to power, even here at the 195 00:08:07,920 --> 00:08:11,240 Speaker 2: hell of a mess, recession, COVID, hangover, tarrifs, We've got 196 00:08:11,280 --> 00:08:12,680 Speaker 2: a bunch of things. We've got to get out the door. 197 00:08:13,800 --> 00:08:16,120 Speaker 2: You've got to sort of restructure and change the tire 198 00:08:16,120 --> 00:08:17,720 Speaker 2: while you're driving the car at the same time. And 199 00:08:17,760 --> 00:08:20,640 Speaker 2: so this is just ongoing daily work that should be happening. 200 00:08:20,680 --> 00:08:22,640 Speaker 2: And if there's better ways to do it. We should 201 00:08:22,680 --> 00:08:25,160 Speaker 2: be relentless about constant improvement. 202 00:08:25,520 --> 00:08:30,160 Speaker 1: Nikola Willis wasn't happy with me last week. Why it's 203 00:08:30,200 --> 00:08:32,760 Speaker 1: a long story, so friendly and nice exactly, but the 204 00:08:33,200 --> 00:08:36,920 Speaker 1: point but do you worry image wise that she is 205 00:08:37,000 --> 00:08:39,559 Speaker 1: running the supermarket thing and this butter thing, and you're 206 00:08:39,600 --> 00:08:41,840 Speaker 1: supposed to be a government that is friendly with business 207 00:08:41,920 --> 00:08:44,920 Speaker 1: and to help business. And she's beating up on supermarkets 208 00:08:45,400 --> 00:08:48,440 Speaker 1: and telling us what's wrong with supermarkets and what's wrong 209 00:08:48,480 --> 00:08:52,760 Speaker 1: with butter and she doesn't come up with any actual solutions. Well, 210 00:08:53,559 --> 00:08:55,079 Speaker 1: you're just trying to draw bonus solution. 211 00:08:55,120 --> 00:08:56,680 Speaker 2: Now I push back on that. I think you know 212 00:08:56,760 --> 00:08:58,920 Speaker 2: when you say how does this country get wealthy? One 213 00:08:58,960 --> 00:09:00,400 Speaker 2: of the five things we have to do is make 214 00:09:00,400 --> 00:09:02,440 Speaker 2: it easier to do business. And we have to look 215 00:09:02,480 --> 00:09:05,240 Speaker 2: at competitive settings, green tape, red tape, or getting rid 216 00:09:05,240 --> 00:09:07,800 Speaker 2: of bureaucracy, all of that stuff. Right. And so we 217 00:09:07,920 --> 00:09:09,840 Speaker 2: are a party, you know that's always been built on 218 00:09:09,960 --> 00:09:12,440 Speaker 2: competition and whether it's larger, whether it's smaller. We want 219 00:09:12,440 --> 00:09:16,120 Speaker 2: competitive markets. And so all she's done in supermarkets is 220 00:09:16,160 --> 00:09:18,480 Speaker 2: take a step back and say, my god, we've done 221 00:09:18,480 --> 00:09:22,040 Speaker 2: it endless talking about this stuff. Have we done everything 222 00:09:22,080 --> 00:09:24,280 Speaker 2: we possibly can to make those regulatary settings easier, and 223 00:09:24,280 --> 00:09:27,320 Speaker 2: it turns out there's probitive zoning, there's slow consenting, there's 224 00:09:27,320 --> 00:09:28,720 Speaker 2: a bunch of stuff getting in the way. So if 225 00:09:28,720 --> 00:09:31,000 Speaker 2: she actually gets rid of all of that, she's done 226 00:09:31,040 --> 00:09:33,000 Speaker 2: a good job linking all of that to fast tracks, 227 00:09:33,000 --> 00:09:35,760 Speaker 2: so supermarkets can be treated like fast track projects. The 228 00:09:35,840 --> 00:09:38,040 Speaker 2: harder thing, to be honest, it's taken some time is 229 00:09:38,080 --> 00:09:40,160 Speaker 2: working through the Building Act changes, which is to get 230 00:09:40,200 --> 00:09:43,400 Speaker 2: those multiproof ideas so that if you've got one store 231 00:09:43,480 --> 00:09:46,160 Speaker 2: format like a costco, you can hit copy paste and 232 00:09:46,200 --> 00:09:48,480 Speaker 2: get more of it done. And yeah, we have eighty 233 00:09:48,520 --> 00:09:51,160 Speaker 2: two building code authorities in New Zealand, which is probably 234 00:09:51,160 --> 00:09:54,400 Speaker 2: about eighty one too many that end up interpreting the 235 00:09:54,400 --> 00:09:56,280 Speaker 2: building code differently. So if you're a Costco and you 236 00:09:56,280 --> 00:09:57,920 Speaker 2: want to put a store in christ Church, you're dealing 237 00:09:57,920 --> 00:10:00,600 Speaker 2: with a whole bunch of different malarkey around all that. 238 00:10:00,679 --> 00:10:02,240 Speaker 2: And so to get to a place where we can 239 00:10:02,280 --> 00:10:05,680 Speaker 2: guarantee them one building code authority that they will work 240 00:10:05,720 --> 00:10:08,360 Speaker 2: with and how the Crown may help support that to 241 00:10:08,360 --> 00:10:10,680 Speaker 2: make that all happen, there's some complexity in all of that, 242 00:10:10,800 --> 00:10:13,000 Speaker 2: so you know, all we can do is we don't 243 00:10:13,040 --> 00:10:15,319 Speaker 2: create the growth, but we have to create the conditions 244 00:10:15,320 --> 00:10:17,480 Speaker 2: for growth and get the operating system right. And I 245 00:10:17,480 --> 00:10:19,199 Speaker 2: think that's what she's done. Really well, have. 246 00:10:19,200 --> 00:10:20,920 Speaker 1: A good week. I will make good and told you 247 00:10:21,040 --> 00:10:24,160 Speaker 1: Christola lux And for more from the mic Asking Breakfast, 248 00:10:24,360 --> 00:10:27,719 Speaker 1: listen live to news talks that'd be from six am weekdays, 249 00:10:27,920 --> 00:10:30,000 Speaker 1: or follow the podcast on iHeartRadio.