1 00:00:00,120 --> 00:00:00,320 Speaker 1: With us. 2 00:00:00,360 --> 00:00:03,840 Speaker 2: Now is Nichola Willis the Finance minister? Hey Nicola, Hi Heather, 3 00:00:04,280 --> 00:00:06,760 Speaker 2: Now Nicola, do you send any of your person your 4 00:00:06,760 --> 00:00:08,600 Speaker 2: emails to your Gmail account? Bony chance. 5 00:00:09,880 --> 00:00:12,520 Speaker 1: Look, I don't think so. To be honest, I don't 6 00:00:12,560 --> 00:00:15,680 Speaker 1: send many emails at all. I've got an incredible team 7 00:00:15,680 --> 00:00:18,040 Speaker 1: of people who do that for me. I tend to 8 00:00:18,040 --> 00:00:20,680 Speaker 1: send the odd text or what's that message? And that's 9 00:00:20,720 --> 00:00:21,120 Speaker 1: about it. 10 00:00:21,400 --> 00:00:23,720 Speaker 2: Really, How do you get away with not doing emails? 11 00:00:24,360 --> 00:00:28,520 Speaker 1: Well? I do them very rarely, and that's because I 12 00:00:28,680 --> 00:00:31,120 Speaker 1: either am briefing officials face to face saying could you 13 00:00:31,120 --> 00:00:33,680 Speaker 1: get me this? Could do that please, I'm meeting with 14 00:00:33,800 --> 00:00:36,560 Speaker 1: people face to face, or I'm talking to my team 15 00:00:36,680 --> 00:00:38,680 Speaker 1: and saying, oh, look, could you just make sure that 16 00:00:38,680 --> 00:00:42,559 Speaker 1: that minister's aware of this. Sometimes we do formal correspondents 17 00:00:42,720 --> 00:00:45,600 Speaker 1: letters and the like, but very rarely am I sitting 18 00:00:45,640 --> 00:00:47,560 Speaker 1: at my keyboard writing an email. 19 00:00:47,920 --> 00:00:50,360 Speaker 2: So do you just have a person who you say, 20 00:00:50,400 --> 00:00:53,040 Speaker 2: can you please email Chris back and say to Chris, yep, 21 00:00:53,080 --> 00:00:55,000 Speaker 2: I'll be there for his announcement about blah blah on 22 00:00:55,040 --> 00:00:55,400 Speaker 2: that day. 23 00:00:55,840 --> 00:00:59,000 Speaker 1: Well, it's not so we don't so much communicate in 24 00:00:59,040 --> 00:01:02,000 Speaker 1: that way. So information comes to me in hard copy 25 00:01:02,120 --> 00:01:06,600 Speaker 1: from my agencies. My diary is there obviously in my calendar. 26 00:01:07,520 --> 00:01:09,760 Speaker 1: And then I have a lot of verbal briefings, a 27 00:01:09,760 --> 00:01:12,280 Speaker 1: lot of written briefings, a lot of discussions with colleagues 28 00:01:12,280 --> 00:01:13,840 Speaker 1: on a daily basis, face to face. 29 00:01:14,280 --> 00:01:16,440 Speaker 2: What about in your personal life? Don't you get like 30 00:01:16,480 --> 00:01:18,880 Speaker 2: your power company emailing you? And second, we've got to 31 00:01:18,920 --> 00:01:22,080 Speaker 2: come around and fix the power box is Monday ten o'clock. Okay, 32 00:01:22,880 --> 00:01:23,440 Speaker 2: Oh sure. 33 00:01:23,520 --> 00:01:25,480 Speaker 1: I use a Gmail account for some of that stuff. 34 00:01:25,520 --> 00:01:27,760 Speaker 1: You know, the notices from school where the child A 35 00:01:27,880 --> 00:01:29,840 Speaker 1: has been well behaved, your child be has been bad. 36 00:01:29,920 --> 00:01:31,880 Speaker 2: Do you wag or do you just not? 37 00:01:33,360 --> 00:01:37,360 Speaker 1: I occasionally have, especially if it's nice news. 38 00:01:37,200 --> 00:01:38,720 Speaker 2: You just leave news. 39 00:01:39,840 --> 00:01:42,920 Speaker 1: Well. Look, the way I think about it is, if 40 00:01:42,920 --> 00:01:45,560 Speaker 1: something's urgent, you're going to get on the phone. If 41 00:01:45,600 --> 00:01:48,240 Speaker 1: something's important to the relationship, you're probably going to be 42 00:01:48,280 --> 00:01:51,160 Speaker 1: face to face or having a conversation. Email can be 43 00:01:51,240 --> 00:01:54,240 Speaker 1: quite an impersonal way of communicating. It's hard to get 44 00:01:54,240 --> 00:01:57,120 Speaker 1: a sense of tone. I do use it sometimes, but 45 00:01:57,200 --> 00:01:59,680 Speaker 1: it's definitely not my most common mode. 46 00:02:00,080 --> 00:02:02,640 Speaker 2: Acsually, you're a baller. You've described my best life. I'm 47 00:02:02,640 --> 00:02:04,480 Speaker 2: going to stop emailing henceforth and just say if it's 48 00:02:04,520 --> 00:02:06,360 Speaker 2: good for the Finance minister, it's good for me. Now 49 00:02:06,400 --> 00:02:09,040 Speaker 2: listen David Seymour. I loved his idea of cutting the 50 00:02:09,080 --> 00:02:12,440 Speaker 2: ministerial portfolios. Right. He wants to get rid of the 51 00:02:12,480 --> 00:02:16,160 Speaker 2: economic growth portfolio, I would assume because it's not necessary, 52 00:02:16,200 --> 00:02:16,400 Speaker 2: is it? 53 00:02:17,520 --> 00:02:20,760 Speaker 1: Well, I think it is necessary. It's been very useful 54 00:02:20,840 --> 00:02:23,800 Speaker 1: being able to take an overall view of the work 55 00:02:23,840 --> 00:02:28,040 Speaker 1: happening across multiple portfolios to drive economic growth, to ensure 56 00:02:28,080 --> 00:02:31,720 Speaker 1: we're prioritizing the right thanks driving it forward. Well, having 57 00:02:31,720 --> 00:02:35,239 Speaker 1: a specific portfolio dedicated to that has meant that I've 58 00:02:35,280 --> 00:02:39,120 Speaker 1: had officials ensuring that we're engaging with businesses, that we 59 00:02:39,200 --> 00:02:42,840 Speaker 1: are responding to their specific concerns that they're raising. And 60 00:02:42,880 --> 00:02:46,040 Speaker 1: in fact, some of that then leads to policy ideas 61 00:02:46,080 --> 00:02:48,400 Speaker 1: being put on the agenda that wouldn't otherwise be there. 62 00:02:48,800 --> 00:02:50,840 Speaker 1: And look, there are always debates about do you integrate 63 00:02:50,880 --> 00:02:53,600 Speaker 1: it all into one portfolio or have separate portfolios. In 64 00:02:53,639 --> 00:02:58,600 Speaker 1: my case, Treasury provide me fiscal advice and economic advice 65 00:02:58,720 --> 00:03:01,680 Speaker 1: and MB support me and the economics that'll. 66 00:03:01,520 --> 00:03:05,040 Speaker 2: Alarm you though, I mean, like the basically everybody in 67 00:03:05,080 --> 00:03:07,880 Speaker 2: government should be aiming for economic growth. That's how we're 68 00:03:07,880 --> 00:03:09,480 Speaker 2: going to get more money into the country. The fact 69 00:03:09,520 --> 00:03:11,000 Speaker 2: that you have to have it as a job title 70 00:03:11,280 --> 00:03:13,120 Speaker 2: to make them think about it is kind of freaky, 71 00:03:13,160 --> 00:03:13,560 Speaker 2: isn't it. 72 00:03:14,200 --> 00:03:17,880 Speaker 1: Well? I agree everyone should, but there are always questions 73 00:03:17,919 --> 00:03:20,480 Speaker 1: about are we prioritizing the things that are going to 74 00:03:20,560 --> 00:03:23,440 Speaker 1: most turn the dial because there are literally one hundred 75 00:03:23,520 --> 00:03:25,880 Speaker 1: things every minister could do each day. So let's make 76 00:03:25,919 --> 00:03:28,200 Speaker 1: sure we're focusing on the things that are most important 77 00:03:28,400 --> 00:03:31,639 Speaker 1: and take opportunities to be really clear about what that 78 00:03:31,760 --> 00:03:35,040 Speaker 1: program is, whether we're on track, what the obstacles are 79 00:03:35,080 --> 00:03:37,320 Speaker 1: and are found. It's a useful way of driving activity. 80 00:03:37,560 --> 00:03:39,600 Speaker 2: Thomas Coglan says that you're going to means test the 81 00:03:39,640 --> 00:03:41,920 Speaker 2: government's key we save a contribution to cut people off 82 00:03:41,920 --> 00:03:43,920 Speaker 2: who earn above one hundred and eighty thousand dollars. Is 83 00:03:43,920 --> 00:03:46,080 Speaker 2: it true? 84 00:03:45,840 --> 00:03:50,000 Speaker 1: He wrote that article off the back of a interview 85 00:03:50,080 --> 00:03:53,120 Speaker 1: I had with you last week, and what I pledge 86 00:03:53,160 --> 00:03:55,880 Speaker 1: to both him and will pledge to you now is 87 00:03:55,920 --> 00:03:57,960 Speaker 1: I am not going to play the rule and rule 88 00:03:58,000 --> 00:04:01,200 Speaker 1: out game between now and Budget day, because what you 89 00:04:01,240 --> 00:04:03,520 Speaker 1: can see is that anything I say or do in 90 00:04:03,520 --> 00:04:06,120 Speaker 1: that nature is going to be poured over. It's going 91 00:04:06,160 --> 00:04:08,160 Speaker 1: to be raked over. But what I can tell you 92 00:04:08,920 --> 00:04:13,560 Speaker 1: is that I have given Thomas a specific chunky saving 93 00:04:13,920 --> 00:04:15,760 Speaker 1: that we are making in the budget for him to 94 00:04:15,840 --> 00:04:19,360 Speaker 1: run in your sister publication, the New Zealand Herald tomorrow morning. 95 00:04:19,760 --> 00:04:23,400 Speaker 1: It accounts for a billion dollars worth of money over 96 00:04:23,400 --> 00:04:25,560 Speaker 1: the next four years that will now be available for 97 00:04:25,680 --> 00:04:28,640 Speaker 1: health and education services and other good things. And I 98 00:04:28,680 --> 00:04:31,000 Speaker 1: think when New Zealanders read about that savings and I 99 00:04:31,000 --> 00:04:34,120 Speaker 1: should have, they'll say, good on you, very good doing this. 100 00:04:34,360 --> 00:04:35,680 Speaker 1: Shut that's a great idea. 101 00:04:35,839 --> 00:04:38,200 Speaker 2: You're doing this because he's harping on about this means 102 00:04:38,240 --> 00:04:40,240 Speaker 2: testing stuff and you're like, just give him something to 103 00:04:40,400 --> 00:04:41,400 Speaker 2: just satisfy him. 104 00:04:41,920 --> 00:04:44,640 Speaker 1: Well, well, look, when people are agree not to play 105 00:04:44,680 --> 00:04:46,359 Speaker 1: the rule in and rule out game, there can be 106 00:04:46,400 --> 00:04:47,400 Speaker 1: all sorts of rewards. 107 00:04:47,400 --> 00:04:51,600 Speaker 2: Here she was, Hey, listen, how big is our structural deficit? 108 00:04:53,240 --> 00:04:56,440 Speaker 1: Well, we will update that figure at the budget. The 109 00:04:56,480 --> 00:05:00,159 Speaker 1: structural deficit, for those listening, is the difference between what 110 00:05:00,200 --> 00:05:03,400 Speaker 1: we're earning in terms of revenue from tax and other 111 00:05:03,440 --> 00:05:06,000 Speaker 1: sources and what we're spending in terms of the commitments 112 00:05:06,080 --> 00:05:09,360 Speaker 1: government has to funding things and what you expect is 113 00:05:09,400 --> 00:05:11,279 Speaker 1: that when an economy is in a downturn, it's not 114 00:05:11,400 --> 00:05:14,360 Speaker 1: unusual for it to go into deficit. So a structural 115 00:05:14,360 --> 00:05:17,760 Speaker 1: deficit is saying even if the economy ticked up, we 116 00:05:18,000 --> 00:05:21,680 Speaker 1: still think that New Zealand would be spending more. And 117 00:05:21,800 --> 00:05:26,600 Speaker 1: that's that's the position the last Labor government left us in. 118 00:05:27,160 --> 00:05:30,360 Speaker 1: And what I can tell you is we are making 119 00:05:30,720 --> 00:05:34,200 Speaker 1: really good progress in reducing that structural deficit in the 120 00:05:34,240 --> 00:05:37,400 Speaker 1: budget and will update on that figure at budget time. 121 00:05:37,480 --> 00:05:40,440 Speaker 2: Okay, so when do you think we will stop running 122 00:05:40,480 --> 00:05:41,520 Speaker 2: a structural deficit? 123 00:05:43,279 --> 00:05:46,520 Speaker 1: Well, I will update that at budget time as well 124 00:05:46,960 --> 00:05:47,320 Speaker 1: as of. 125 00:05:47,360 --> 00:05:50,800 Speaker 2: Previous you can see we insight yes. 126 00:05:50,560 --> 00:05:53,000 Speaker 1: Because as I've said, we're going to have the box 127 00:05:53,800 --> 00:05:57,159 Speaker 1: back into balance with a very very lean surplus in 128 00:05:57,240 --> 00:05:59,760 Speaker 1: twenty twenty nine, and that reflects the fact that in 129 00:05:59,800 --> 00:06:03,839 Speaker 1: that year will be earning enough to meet our spending commitments. 130 00:06:03,960 --> 00:06:07,440 Speaker 2: Okay, have you seen the tertiary ed Education Commission warning 131 00:06:07,480 --> 00:06:09,680 Speaker 2: about giving White Cuttle Uni that medical school. 132 00:06:10,520 --> 00:06:13,600 Speaker 1: Yes, I saw that in our article from the Otago 133 00:06:13,800 --> 00:06:19,720 Speaker 1: Daily Times, who are obviously big supporters of Otago University. 134 00:06:19,920 --> 00:06:23,839 Speaker 1: And look, that's one set of issues that will be 135 00:06:24,720 --> 00:06:27,360 Speaker 1: in Minister's Minds alongside a series. 136 00:06:27,120 --> 00:06:30,839 Speaker 2: Coming of other I haven't got any barrier to push 137 00:06:30,880 --> 00:06:32,880 Speaker 2: here at all. In fact, I really like Neil Quigley 138 00:06:33,080 --> 00:06:36,159 Speaker 2: who runs the show. But I don't think that you 139 00:06:36,200 --> 00:06:38,719 Speaker 2: can give it to Whitkattle University. They just are not 140 00:06:38,880 --> 00:06:39,320 Speaker 2: up to it. 141 00:06:40,200 --> 00:06:44,000 Speaker 1: Well. Look, under the Coalition agreement were a full cost 142 00:06:44,000 --> 00:06:47,920 Speaker 1: benefit analysis must be presented before Cabinet makes a decision 143 00:06:48,000 --> 00:06:50,840 Speaker 1: with respect to the Waycato Medical School, and ministers are 144 00:06:50,839 --> 00:06:54,240 Speaker 1: still considering advice from the Ministry of Health on that 145 00:06:54,320 --> 00:06:56,280 Speaker 1: proposal and no decisions have been made. 146 00:06:56,320 --> 00:06:58,000 Speaker 2: Do you have any idea when this is actually gonna 147 00:06:58,000 --> 00:06:59,920 Speaker 2: happen because you're sure you're fast running out of time. 148 00:07:00,680 --> 00:07:03,000 Speaker 1: Oh, we're not running out of time. Those decisions will 149 00:07:03,040 --> 00:07:03,840 Speaker 1: be made in due course. 150 00:07:04,080 --> 00:07:07,040 Speaker 2: I get what this term? Yes? This year? 151 00:07:08,000 --> 00:07:08,240 Speaker 1: Yes? 152 00:07:08,839 --> 00:07:09,840 Speaker 2: Is it in this budget? 153 00:07:12,200 --> 00:07:15,360 Speaker 1: I'm now yeah, Yeah, we're getting into that game again. 154 00:07:16,440 --> 00:07:18,560 Speaker 1: Look that there will be announcements made about it this 155 00:07:18,640 --> 00:07:19,120 Speaker 1: year here though. 156 00:07:19,120 --> 00:07:21,480 Speaker 2: Oh cool? Hey did you get an invitation to Adrian 157 00:07:21,640 --> 00:07:23,000 Speaker 2: was leaving party? 158 00:07:23,560 --> 00:07:25,000 Speaker 1: No? I didn't know what I expect to. 159 00:07:25,440 --> 00:07:27,680 Speaker 2: Has there been a cover up over his resignation? 160 00:07:29,320 --> 00:07:32,640 Speaker 1: No, I wouldn't describe it that way. He made a 161 00:07:32,680 --> 00:07:38,840 Speaker 1: decision to resign that was communicated publicly. Ultimately, his employment 162 00:07:38,880 --> 00:07:42,400 Speaker 1: relationship is with the Reserve Bank Board and so for 163 00:07:41,960 --> 00:07:45,440 Speaker 1: it's for them to decide what it's appropriate to communicate 164 00:07:45,480 --> 00:07:45,840 Speaker 1: about that. 165 00:07:46,080 --> 00:07:51,160 Speaker 2: Okay, so you're not actively withholding the reasons for him residing, 166 00:07:51,160 --> 00:07:53,400 Speaker 2: like you don't know and you're not telling us that's 167 00:07:53,440 --> 00:07:53,960 Speaker 2: not happening. 168 00:07:55,000 --> 00:07:59,400 Speaker 1: Yeah, that's right from my perspective, I was informed that 169 00:07:59,520 --> 00:08:01,200 Speaker 1: he had made the decision to resign. 170 00:08:01,440 --> 00:08:04,040 Speaker 2: You what a what plan? Next time Neil comes in, 171 00:08:04,160 --> 00:08:06,560 Speaker 2: Neil quickly from why Cutwell University comes in to talk 172 00:08:06,560 --> 00:08:08,280 Speaker 2: to you about money for the medical school? Can you 173 00:08:08,320 --> 00:08:10,560 Speaker 2: ask him, tell him to put his hat on as 174 00:08:10,600 --> 00:08:12,240 Speaker 2: the chair of the Reserve Bank and ask him why 175 00:08:12,280 --> 00:08:13,720 Speaker 2: Adrian left? And then I can ask. 176 00:08:13,560 --> 00:08:17,800 Speaker 1: You, you know, I think anyone speculating on that where 177 00:08:17,840 --> 00:08:20,880 Speaker 1: whether it's Nil or in any the Treasury Secretary or 178 00:08:20,920 --> 00:08:24,120 Speaker 1: me or anyone else, we might have our interpretation. But 179 00:08:24,240 --> 00:08:28,400 Speaker 1: ultimately the person who knows his reasons for himself is Adrian, 180 00:08:29,120 --> 00:08:34,120 Speaker 1: and he hesitates. Well, I think that how he articulated 181 00:08:34,160 --> 00:08:36,880 Speaker 1: that is for him, and the fact that he has 182 00:08:37,080 --> 00:08:40,400 Speaker 1: chosen not to go into detail about that makes it 183 00:08:40,440 --> 00:08:42,600 Speaker 1: pretty challenging. For any of us to put words in 184 00:08:42,679 --> 00:08:47,080 Speaker 1: his mouth why, because we would be speculating and his 185 00:08:47,200 --> 00:08:49,760 Speaker 1: reasons for his resignation are ultimately. 186 00:08:49,520 --> 00:08:51,720 Speaker 2: Seriously telling Menafo that what he did was he was like, 187 00:08:51,920 --> 00:08:54,360 Speaker 2: I quit and he didn't say why he didn't. He 188 00:08:54,400 --> 00:08:55,920 Speaker 2: didn't give you guys any reason why. 189 00:08:56,640 --> 00:09:00,800 Speaker 1: Well, I anticipate, well, I know that there we're discussions 190 00:09:00,840 --> 00:09:04,240 Speaker 1: with the Reserve Bank Board about that. But as I said, 191 00:09:04,360 --> 00:09:07,240 Speaker 1: that is for the Reserve Bank Board to communicate about, 192 00:09:07,280 --> 00:09:07,920 Speaker 1: it's not for me. 193 00:09:08,400 --> 00:09:10,600 Speaker 2: Okay, Hey, Nicola, thank you very much, really appreciate it 194 00:09:10,760 --> 00:09:14,040 Speaker 2: very much. Looking forward to the information you've given out. 195 00:09:14,080 --> 00:09:20,600 Speaker 2: Thomas Coglin. That's Nicola Willis, Finance Minister. For more from 196 00:09:20,640 --> 00:09:23,960 Speaker 2: Heather Duplessy Allen Drive, listen live to news Talks. It'd 197 00:09:23,960 --> 00:09:28,040 Speaker 2: be from four pm weekdays, or follow the podcast on iHeartRadio.