1 00:00:00,040 --> 00:00:02,280 Speaker 1: There are so per senior political correspondents with US Now. 2 00:00:02,279 --> 00:00:03,640 Speaker 2: Hello Barres, good afternoon, heado. 3 00:00:03,880 --> 00:00:05,800 Speaker 1: Right, rich investors are going to be allowed to buy 4 00:00:05,800 --> 00:00:07,240 Speaker 1: houses finally. 5 00:00:07,280 --> 00:00:10,399 Speaker 2: Well they are. The law won't be passed until the 6 00:00:10,520 --> 00:00:13,920 Speaker 2: end of the years, so we're still a little way off. Nevertheless, 7 00:00:14,600 --> 00:00:16,920 Speaker 2: there has been a commitment that that will happen. You've 8 00:00:16,920 --> 00:00:19,639 Speaker 2: got to have either five million bucks to buy a 9 00:00:19,680 --> 00:00:22,720 Speaker 2: five million dollar house or ten million dollars for a 10 00:00:22,720 --> 00:00:25,680 Speaker 2: different category of visa that you can have a mixed 11 00:00:25,720 --> 00:00:30,880 Speaker 2: investment over a number of areas. Interestingly, I had a 12 00:00:30,880 --> 00:00:34,000 Speaker 2: bit of a chuck on myself as well about Winston 13 00:00:34,120 --> 00:00:38,839 Speaker 2: Peters posting on x sounds like Donald Trump, which is 14 00:00:38,880 --> 00:00:41,760 Speaker 2: where we get all the information about what he's thinking. 15 00:00:41,760 --> 00:00:47,599 Speaker 2: But Winston Peters, he said, the foreign buyers ban remains well, 16 00:00:47,640 --> 00:00:52,800 Speaker 2: it does to an extent. He said that the governments 17 00:00:52,880 --> 00:00:56,800 Speaker 2: ensured tight restrictions around the policy, excluding the sale of 18 00:00:56,880 --> 00:01:00,120 Speaker 2: rural farm and sensitive land. But it does mean and 19 00:01:00,160 --> 00:01:02,400 Speaker 2: if you are an investor, and to me it makes 20 00:01:02,480 --> 00:01:06,119 Speaker 2: absolute sense. You come to the country and if you're 21 00:01:06,200 --> 00:01:08,760 Speaker 2: planning to live here and you're putting money into the country, 22 00:01:08,959 --> 00:01:11,160 Speaker 2: of course you want to buy a house here the 23 00:01:11,200 --> 00:01:14,440 Speaker 2: Immigration min Ister Erica Stanford, who was standing beside Chris 24 00:01:14,480 --> 00:01:19,039 Speaker 2: Luxon when the announcement was made. She said the investor 25 00:01:19,560 --> 00:01:23,160 Speaker 2: visas they had hoped that they would get two hundred 26 00:01:23,240 --> 00:01:25,639 Speaker 2: in the first year. Well in the first five months 27 00:01:25,640 --> 00:01:28,560 Speaker 2: of the year they got three hundred, which is pretty remarkable. 28 00:01:28,600 --> 00:01:31,240 Speaker 2: It shows that New Zealand is seen as a pretty 29 00:01:31,240 --> 00:01:34,200 Speaker 2: good destination. And I've got to say she whacks lyrical 30 00:01:34,240 --> 00:01:35,920 Speaker 2: about what they bring to this country. 31 00:01:36,040 --> 00:01:39,000 Speaker 3: If you allow people to buy a home, they spend 32 00:01:39,000 --> 00:01:40,520 Speaker 3: more time here and you can speak to the people 33 00:01:40,520 --> 00:01:43,320 Speaker 3: in the room who are evidence of that. And when 34 00:01:43,360 --> 00:01:46,199 Speaker 3: they are here more they invest in their local communities. 35 00:01:46,400 --> 00:01:47,760 Speaker 3: And I'll tell you the other thing about them, they 36 00:01:47,760 --> 00:01:51,080 Speaker 3: are an amazing philanthropist in their local communities. So when 37 00:01:51,120 --> 00:01:53,760 Speaker 3: you are thinking about economic growth and tagging that into 38 00:01:53,760 --> 00:01:57,400 Speaker 3: our local communities, these are amazing people with great connections 39 00:01:57,440 --> 00:01:59,880 Speaker 3: and they get a huge passion for New Zealand and 40 00:02:00,240 --> 00:02:01,760 Speaker 3: their value was exponential. 41 00:02:02,320 --> 00:02:04,760 Speaker 2: So there were people in the room that clearly fall 42 00:02:04,800 --> 00:02:07,600 Speaker 2: into the category that she was talking about. So hopefully 43 00:02:07,600 --> 00:02:10,920 Speaker 2: we'll hear some stories out of them following this today. 44 00:02:11,160 --> 00:02:13,680 Speaker 1: Okay, so what's your take on Neil Quigley's resignation. 45 00:02:13,960 --> 00:02:17,520 Speaker 2: Well, look, I feel for Neil Quiggley. You know, I've 46 00:02:17,560 --> 00:02:19,440 Speaker 2: met the man on a number of occasions, a very 47 00:02:19,520 --> 00:02:22,160 Speaker 2: honorable sort of a fellow. And don't forget he's the 48 00:02:22,160 --> 00:02:25,080 Speaker 2: one that's behind the medical school at Waikata University, where 49 00:02:25,160 --> 00:02:29,799 Speaker 2: is the vice chancellor. But the fact is when Adrian Or, 50 00:02:29,840 --> 00:02:32,000 Speaker 2: when they got into the stash, Adrian Or was clearly 51 00:02:32,040 --> 00:02:35,040 Speaker 2: a very difficult man to deal with, and when they 52 00:02:35,360 --> 00:02:39,400 Speaker 2: came to an agreement that he would go, they in 53 00:02:39,400 --> 00:02:45,760 Speaker 2: fact were sworn to secrecy disclosure agreement. They had both 54 00:02:45,800 --> 00:02:48,000 Speaker 2: had non disclosure agreements and the fact of the matter 55 00:02:48,120 --> 00:02:53,000 Speaker 2: is that neither the Finance Minister nor Treasury were bound 56 00:02:53,080 --> 00:02:56,240 Speaker 2: by those agreements, so they could say a lot more. 57 00:02:56,360 --> 00:03:01,679 Speaker 2: All Quigley said was that he based made a personal 58 00:03:01,680 --> 00:03:03,960 Speaker 2: decision to go. And in the end, if you want 59 00:03:03,960 --> 00:03:06,320 Speaker 2: to be pedantic about it, you could say that Adrian Or, 60 00:03:06,600 --> 00:03:09,239 Speaker 2: even though he threw a tanti threw his cots toys 61 00:03:09,240 --> 00:03:11,960 Speaker 2: out of the cot, it was a personal decision, like 62 00:03:12,000 --> 00:03:15,960 Speaker 2: any resignation is. So you know, you can argue that, 63 00:03:16,080 --> 00:03:21,320 Speaker 2: But then Labor has been criticizing the whole issue, and 64 00:03:21,400 --> 00:03:25,040 Speaker 2: don't forget it was Labor that reappointed Adrian Or to 65 00:03:25,080 --> 00:03:29,760 Speaker 2: the job against a political a lot of political opposition 66 00:03:29,880 --> 00:03:32,119 Speaker 2: to it from the government that came in a year 67 00:03:32,200 --> 00:03:36,760 Speaker 2: later and from others as well, but nevertheless he was 68 00:03:37,240 --> 00:03:40,600 Speaker 2: reappointed to the job. The Prime Minister said this morning 69 00:03:40,640 --> 00:03:44,800 Speaker 2: that a new governor will be appointed within weeks. This afternoon, 70 00:03:44,840 --> 00:03:47,640 Speaker 2: he said he's not worried about the bank stability, despite 71 00:03:47,640 --> 00:03:48,680 Speaker 2: what Labour's been saying. 72 00:03:48,720 --> 00:03:51,840 Speaker 4: I don't take any lectures from the Labor Party on economics. 73 00:03:51,840 --> 00:03:54,160 Speaker 4: I don't think they really have a great literacy in 74 00:03:54,200 --> 00:03:56,800 Speaker 4: the space, having been the people that actually put us 75 00:03:56,800 --> 00:03:59,560 Speaker 4: in this very difficult situation that all his Islanders are experiencing. 76 00:03:59,640 --> 00:04:01,040 Speaker 4: So know what I'd say to you is we've got 77 00:04:01,080 --> 00:04:03,360 Speaker 4: a very stronger experienced management team. We've got a very 78 00:04:03,360 --> 00:04:06,560 Speaker 4: stronger experience bought and they are quite capable of fully 79 00:04:06,560 --> 00:04:09,120 Speaker 4: discharging their obligations as a reserve bank. And so I've 80 00:04:09,160 --> 00:04:11,080 Speaker 4: got every confidence on them. You know, having come from 81 00:04:11,120 --> 00:04:13,440 Speaker 4: an outside world, it's not uncommon that you change chair 82 00:04:13,480 --> 00:04:14,520 Speaker 4: and see are at the same time. 83 00:04:14,960 --> 00:04:16,200 Speaker 2: I think it's quite uncommon. 84 00:04:16,200 --> 00:04:19,040 Speaker 1: But nevertheless, so I just want to clarify, So are 85 00:04:19,080 --> 00:04:22,000 Speaker 1: you arguing that Neil Quigley is hard done by here, I. 86 00:04:22,320 --> 00:04:24,680 Speaker 2: Am actually, you know, I think he is quite hard 87 00:04:24,760 --> 00:04:26,760 Speaker 2: done by. I don't know. I can see you smirking there. 88 00:04:26,800 --> 00:04:29,080 Speaker 1: Well, I am smirking so hard at you right now. 89 00:04:29,120 --> 00:04:32,799 Speaker 2: Yeah, okay, Well, look, I think he was hard done 90 00:04:32,839 --> 00:04:36,120 Speaker 2: by because if you, if you signed to sign up 91 00:04:36,120 --> 00:04:39,480 Speaker 2: to a confidentiality agreement, you don't then go and spill 92 00:04:39,480 --> 00:04:42,400 Speaker 2: the beans outside of that because by law you can't 93 00:04:42,440 --> 00:04:46,040 Speaker 2: do it anyway. And I thought he was caught between 94 00:04:46,040 --> 00:04:46,600 Speaker 2: a rock and a hope. 95 00:04:46,640 --> 00:04:48,120 Speaker 1: Can I give you an alternative view on it? 96 00:04:48,160 --> 00:04:48,720 Speaker 3: Of course? Right? 97 00:04:48,800 --> 00:04:51,839 Speaker 1: So, first of all, if you just because you sign 98 00:04:51,880 --> 00:04:53,960 Speaker 1: an NDA doesn't mean that you need to go tell 99 00:04:54,000 --> 00:04:57,240 Speaker 1: Fibbs and public. Right, So he said, personal decisions or 100 00:04:57,360 --> 00:05:00,640 Speaker 1: use sophistry, which is which is the you of language 101 00:05:00,720 --> 00:05:04,040 Speaker 1: intended to mislead people to believe one thing when it's 102 00:05:04,040 --> 00:05:06,599 Speaker 1: actually another thing, which is what he did. So you 103 00:05:06,640 --> 00:05:08,839 Speaker 1: don't have to tell Phibbs because you signed an NDA. 104 00:05:08,960 --> 00:05:10,880 Speaker 1: You can simply say I cannot talk about this for 105 00:05:10,960 --> 00:05:11,640 Speaker 1: legal reasons. 106 00:05:11,839 --> 00:05:13,599 Speaker 2: Well is he could have clarified that. 107 00:05:13,760 --> 00:05:16,679 Speaker 1: Okay, So the first problem is telling phibbies. The second 108 00:05:16,760 --> 00:05:19,840 Speaker 1: problem then is that clearly the NDA did not preclude 109 00:05:19,839 --> 00:05:22,680 Speaker 1: them from telling us what actually happened. That Adrian Or 110 00:05:22,720 --> 00:05:25,120 Speaker 1: stepped down, and that Adrian Or was replaced by Christian 111 00:05:25,120 --> 00:05:26,440 Speaker 1: Hawksby and that he was out of the office for 112 00:05:26,440 --> 00:05:28,159 Speaker 1: five days and blah blah blah. They could do that 113 00:05:28,200 --> 00:05:30,360 Speaker 1: because the ombardsmen ordered them to do that, and they 114 00:05:30,400 --> 00:05:32,960 Speaker 1: did that, So why didn't it? So my interpretation of 115 00:05:33,000 --> 00:05:36,080 Speaker 1: it is that they were they used the NDA as 116 00:05:36,160 --> 00:05:38,000 Speaker 1: cover for just not telling us the true. 117 00:05:38,040 --> 00:05:40,720 Speaker 2: Well, you know who knows? I mean, you know I 118 00:05:41,040 --> 00:05:44,080 Speaker 2: I think if you sign up to a confidentiality agreement, 119 00:05:44,120 --> 00:05:45,200 Speaker 2: you've got to abide by it. 120 00:05:45,440 --> 00:05:52,039 Speaker 1: Okay, Barry, thank you, But why are you laughing at one? No, 121 00:05:52,120 --> 00:05:52,680 Speaker 1: you haven't won. 122 00:05:52,880 --> 00:05:53,760 Speaker 2: I'm just I just. 123 00:05:53,720 --> 00:05:56,599 Speaker 1: I'm out of time, thank you. And also that's the 124 00:05:56,680 --> 00:05:58,039 Speaker 1: end of that, though. I haven't we put that one 125 00:05:58,080 --> 00:06:01,479 Speaker 1: to bed, haven't we? Anyway? Very so, Senior Political Correspondence. 126 00:06:02,000 --> 00:06:05,160 Speaker 2: For more from Hither Duplessy Allen Drive, listen live to 127 00:06:05,279 --> 00:06:08,279 Speaker 2: News Talks it B from four pm weekdays, or follow 128 00:06:08,320 --> 00:06:10,120 Speaker 2: the podcast on iHeartRadio.