1 00:00:00,200 --> 00:00:02,840 Speaker 1: Now the debate over whether we should partially privatize the 2 00:00:02,840 --> 00:00:05,280 Speaker 1: Cockstraight fairies has been sparked again. It turns out the 3 00:00:05,280 --> 00:00:08,000 Speaker 1: government told the company that's buying our new fairies for 4 00:00:08,080 --> 00:00:10,479 Speaker 1: us to consider that as an option. Winston Peters is 5 00:00:10,520 --> 00:00:13,520 Speaker 1: the Minister for Rail and with us. Now, Hi, Winston, Hello, 6 00:00:13,800 --> 00:00:14,720 Speaker 1: are you considering it? 7 00:00:16,160 --> 00:00:19,280 Speaker 2: Look, we just put out all of the options, and 8 00:00:19,360 --> 00:00:21,799 Speaker 2: in terms of considering it, the answer is no, we're not. 9 00:00:21,880 --> 00:00:25,000 Speaker 2: We're just looking at and making sure that people knew 10 00:00:25,000 --> 00:00:27,480 Speaker 2: what all the options were before we made a long 11 00:00:27,560 --> 00:00:28,160 Speaker 2: term decision. 12 00:00:28,320 --> 00:00:30,400 Speaker 1: Have you made that long term decision? Then it's ruled out, 13 00:00:30,480 --> 00:00:30,720 Speaker 1: is it? 14 00:00:32,000 --> 00:00:35,040 Speaker 2: Well? Look, if you remember what happened the last time 15 00:00:35,760 --> 00:00:40,320 Speaker 2: it was privatized, the shares in the privatization went beyond 16 00:00:40,440 --> 00:00:43,880 Speaker 2: nine dollars and when it collapsed it was under twenty dollars, 17 00:00:44,159 --> 00:00:47,839 Speaker 2: under thirty cents per share. It was a massive sellout, 18 00:00:48,280 --> 00:00:50,599 Speaker 2: a massive loss, and we've rebuilt the whole thing. We're 19 00:00:50,600 --> 00:00:52,879 Speaker 2: not about to make the same mistake a second time. 20 00:00:52,920 --> 00:00:54,360 Speaker 1: Why did it go wrong last time? 21 00:00:56,600 --> 00:01:00,160 Speaker 2: We got long last time because we had a company 22 00:01:00,200 --> 00:01:06,200 Speaker 2: making itself, the Financial Advisors in October of nineteen ninety two. 23 00:01:06,360 --> 00:01:09,080 Speaker 2: The next year, they jumped across the table and said, hello, 24 00:01:09,160 --> 00:01:11,679 Speaker 2: we're the buyer with Wisconsin Central Railroad. You know that 25 00:01:11,840 --> 00:01:14,600 Speaker 2: was it was fayriush White and the rest is history. 26 00:01:15,319 --> 00:01:17,560 Speaker 1: Well, could we, not, having learned the lessons of that, 27 00:01:18,280 --> 00:01:19,160 Speaker 1: do it again properly? 28 00:01:20,640 --> 00:01:23,759 Speaker 2: We'll do what again? Properly? What clefts the whole investment. 29 00:01:23,280 --> 00:01:28,920 Speaker 1: Only partially partially privatized? Why so that it runs. 30 00:01:28,640 --> 00:01:30,520 Speaker 2: More and actually work. 31 00:01:32,000 --> 00:01:34,120 Speaker 1: A bigger part so that it runs more efficiently and 32 00:01:34,120 --> 00:01:35,440 Speaker 1: actually works. I mean because if you look at the 33 00:01:35,480 --> 00:01:38,400 Speaker 1: public version of the Cookstrait Fairies, they are really bad. 34 00:01:38,520 --> 00:01:40,800 Speaker 1: You look at the private version being Bluebridge, it's actually 35 00:01:40,840 --> 00:01:41,560 Speaker 1: working quite well. 36 00:01:42,880 --> 00:01:45,759 Speaker 2: Oh you don't understand that the blue Bridge is depended 37 00:01:45,840 --> 00:01:50,400 Speaker 2: upon the other service delivered by Qrailer. If q Well 38 00:01:50,520 --> 00:01:55,360 Speaker 2: wasn't there, the whole thing would be massively inadequate, massively insufficient. 39 00:01:55,920 --> 00:01:58,640 Speaker 2: I mean, this is the decision that was made decades 40 00:01:58,680 --> 00:02:02,080 Speaker 2: ago by from from very wise politicians when we were 41 00:02:02,080 --> 00:02:04,200 Speaker 2: actually number two in the world because we were smart 42 00:02:04,200 --> 00:02:07,200 Speaker 2: about our investments. And we're going back to being smart 43 00:02:07,240 --> 00:02:10,080 Speaker 2: about our investments again. Now. The key thing is to 44 00:02:10,160 --> 00:02:11,400 Speaker 2: get the right managers in. 45 00:02:12,360 --> 00:02:16,120 Speaker 1: Okay, So have you got any updates for us on 46 00:02:16,160 --> 00:02:18,079 Speaker 1: how you're going buying those new fairies. 47 00:02:19,200 --> 00:02:21,760 Speaker 2: Well, look me down to the bidding process. There's six 48 00:02:22,320 --> 00:02:26,000 Speaker 2: interested tenderers. They will be decided in the fullness of 49 00:02:26,040 --> 00:02:29,000 Speaker 2: time and very very soon, and then we will be 50 00:02:29,000 --> 00:02:32,040 Speaker 2: able to get on with the wolves which are required 51 00:02:32,040 --> 00:02:34,720 Speaker 2: for them, the buildings required for them, and the yards 52 00:02:34,720 --> 00:02:37,880 Speaker 2: required for them. We are going to save in the 53 00:02:37,919 --> 00:02:42,079 Speaker 2: long run billions of dollars from the New Zealand taxpayer's account, 54 00:02:42,320 --> 00:02:45,480 Speaker 2: which the IREX program was sending us to do. The 55 00:02:45,560 --> 00:02:48,840 Speaker 2: IRAQ program had less than twenty percent for the fairies 56 00:02:48,880 --> 00:02:52,000 Speaker 2: and the rest was all infrastructure and hitting, as Treasury said, 57 00:02:52,520 --> 00:02:54,240 Speaker 2: passed four billion dollars. 58 00:02:54,760 --> 00:02:57,400 Speaker 1: Listen just quickly, Winston're on this business with the Treaty 59 00:02:57,440 --> 00:02:59,920 Speaker 1: principles and the education law, and Erica Stanford has been 60 00:03:00,040 --> 00:03:03,079 Speaker 1: getting a fair bit of heat lately. Do you think 61 00:03:03,200 --> 00:03:05,640 Speaker 1: that that treaty principle in there is going to be 62 00:03:05,680 --> 00:03:07,920 Speaker 1: removed or is it going to be rewritten? 63 00:03:09,240 --> 00:03:12,640 Speaker 2: Well, look, the full review of where treaty clauses belong 64 00:03:12,720 --> 00:03:15,520 Speaker 2: or don't belong is being done right now, and we 65 00:03:15,639 --> 00:03:17,679 Speaker 2: are saying that when that happens and we've done the 66 00:03:17,720 --> 00:03:21,679 Speaker 2: full review, then if a bill has well allegation has 67 00:03:22,400 --> 00:03:25,160 Speaker 2: this in it that is not required to be in it, 68 00:03:25,160 --> 00:03:28,399 Speaker 2: it'll be taken out. If it's not justified, it will 69 00:03:28,400 --> 00:03:31,040 Speaker 2: not be there because what the moment, you've got everybody 70 00:03:31,120 --> 00:03:33,440 Speaker 2: shoving it in there and the whole thing is paralyzing 71 00:03:33,560 --> 00:03:35,440 Speaker 2: organizations right around this country. 72 00:03:35,480 --> 00:03:38,000 Speaker 1: Okay, and if it is justified, it will be rewritten 73 00:03:38,000 --> 00:03:40,280 Speaker 1: to be quite specific, But in what cases would it 74 00:03:40,320 --> 00:03:42,400 Speaker 1: be justified to remain in the legislation. 75 00:03:43,560 --> 00:03:45,240 Speaker 2: We will lay them all out before you, but it's 76 00:03:45,320 --> 00:03:48,680 Speaker 2: part of our collision agreement. We decided when these talks, 77 00:03:48,680 --> 00:03:51,000 Speaker 2: we're going to fix this once and for all because 78 00:03:51,040 --> 00:03:54,200 Speaker 2: you had a disaster going on where everybody was interpreting 79 00:03:54,240 --> 00:03:56,760 Speaker 2: the principles of the fetia of White Tongy, and as 80 00:03:56,840 --> 00:03:59,720 Speaker 2: Nata pointed out way back one hundred years ago, they're 81 00:03:59,720 --> 00:04:00,880 Speaker 2: doing what have principles? 82 00:04:01,880 --> 00:04:04,280 Speaker 1: And do you think, having looked, because I imagine you 83 00:04:04,320 --> 00:04:06,040 Speaker 1: will have seen this by now, what's gone on in 84 00:04:06,080 --> 00:04:08,400 Speaker 1: the education in this piece of legislation, do you think 85 00:04:08,520 --> 00:04:10,320 Speaker 1: that is necessary or will it be removed? 86 00:04:11,000 --> 00:04:15,440 Speaker 2: Well, the reality is that they're hammering poor Erica Stanford, 87 00:04:15,560 --> 00:04:19,280 Speaker 2: when in fact the legislation she's talking about she inherited 88 00:04:20,040 --> 00:04:25,200 Speaker 2: and we know that we're across people. Hope people do 89 00:04:25,360 --> 00:04:27,400 Speaker 2: know that. And so some of these when some of 90 00:04:27,440 --> 00:04:31,040 Speaker 2: these absolutis jump in their argument, they don't really understand 91 00:04:31,080 --> 00:04:35,200 Speaker 2: what a huge difficulty we're dealing with because you've had 92 00:04:35,200 --> 00:04:38,520 Speaker 2: government after government taking on things without any understanding. 93 00:04:38,520 --> 00:04:40,480 Speaker 1: Answering my question. And I'm starting to feel like you're 94 00:04:40,480 --> 00:04:42,240 Speaker 1: trying to avoid it. 95 00:04:43,000 --> 00:04:43,760 Speaker 2: I'm not avoid it. 96 00:04:43,760 --> 00:04:46,240 Speaker 1: I'm the one that's do you do you think it 97 00:04:46,240 --> 00:04:47,080 Speaker 1: should be there or not? 98 00:04:48,560 --> 00:04:51,360 Speaker 2: Well, my personal opinion is in most cases of education 99 00:04:51,400 --> 00:04:52,240 Speaker 2: it should not be in there. 100 00:04:52,600 --> 00:04:55,560 Speaker 1: Top all right, so most likely out How long is 101 00:04:55,560 --> 00:04:57,680 Speaker 1: this review going to take that Paul Goldsmith is doing 102 00:04:57,680 --> 00:04:58,400 Speaker 1: do you think. 103 00:04:58,839 --> 00:05:00,440 Speaker 2: Well, he's not doing We're all doing it. And it's 104 00:05:00,480 --> 00:05:03,640 Speaker 2: over the next few weeks and months. It's very close 105 00:05:03,680 --> 00:05:06,640 Speaker 2: to finality, and we'll let you know when we've done 106 00:05:06,640 --> 00:05:06,960 Speaker 2: the work. 107 00:05:07,400 --> 00:05:10,039 Speaker 1: So will you have all of the treaty principles in 108 00:05:10,160 --> 00:05:12,720 Speaker 1: all of the legislation reviewed in the next few months. 109 00:05:14,080 --> 00:05:15,680 Speaker 2: We're reviewing it as we speak. 110 00:05:15,960 --> 00:05:17,919 Speaker 1: Yes, you will live it all done by the end 111 00:05:17,960 --> 00:05:18,400 Speaker 1: of this year. 112 00:05:20,200 --> 00:05:23,800 Speaker 2: Our proposals to ensure that we change the law befitting 113 00:05:23,839 --> 00:05:26,680 Speaker 2: what this country entered into at the Tributa of Whiting 114 00:05:26,680 --> 00:05:28,960 Speaker 2: and Sex of Februar eighty and forty and something that's 115 00:05:29,120 --> 00:05:32,760 Speaker 2: and not something made them right here, what do you say, 116 00:05:32,839 --> 00:05:35,160 Speaker 2: let me tell you, and not something constructed by the 117 00:05:35,160 --> 00:05:38,640 Speaker 2: sociology department of the university, but no recognition of history 118 00:05:38,640 --> 00:05:39,680 Speaker 2: itself and the facts. 119 00:05:39,800 --> 00:05:41,159 Speaker 1: Okay. Do you think by the end of the year. 120 00:05:43,360 --> 00:05:44,200 Speaker 2: Quite possibly? Yes? 121 00:05:44,279 --> 00:05:46,839 Speaker 1: Okay, cool, Hey, thank you, Winston, appreciate it. Winston Peter's 122 00:05:46,839 --> 00:05:48,599 Speaker 1: Minister for Rail. So there you go. They're going through 123 00:05:48,640 --> 00:05:51,839 Speaker 1: all of the legislation, looking at all, poor of Paul Goldsmith, 124 00:05:51,839 --> 00:05:54,960 Speaker 1: who's been announcing all the law he's busy doing all 125 00:05:55,160 --> 00:05:57,080 Speaker 1: the law and order stuff lately. When he's finished with that, 126 00:05:57,120 --> 00:05:58,919 Speaker 1: he's going to have to look at all of the 127 00:05:58,920 --> 00:06:01,479 Speaker 1: Treaty of Treaty of Wipe any principles in all of 128 00:06:01,480 --> 00:06:03,680 Speaker 1: the legislation which they're doing, and then they're going to 129 00:06:03,680 --> 00:06:05,760 Speaker 1: have make decisions and apparently most most likely by the 130 00:06:05,800 --> 00:06:07,159 Speaker 1: end of the m very excited to see that. 131 00:06:07,920 --> 00:06:11,080 Speaker 2: For more from Hither Duplessy Allen Drive, listen live to 132 00:06:11,200 --> 00:06:14,239 Speaker 2: news talks it'd be from four pm weekdays, or follow 133 00:06:14,279 --> 00:06:16,040 Speaker 2: the podcast on iHeartRadio.