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Nicola Willis: Finance Minister pleased with Mood of the Boardroom survey results · Best of Business

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  Speaker 1: You're listening to a podcast from News Talks'd be follow
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  Speaker 1: this and our wide range of podcasts now on iHeartRadio.
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  Speaker 2: Right now, it is seven minutes past six and some
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  Speaker 2: of the country's major business leaders have had the essay.
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  Speaker 2: In The New Zealand Herald's Mood of the Boardroom survey,
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  Speaker 2: the main domestic concerns are the price and supply of energy.
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  Speaker 2: Don't worry, no, it's suggesting nuclear here just yet. Are
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  Speaker 2: the cost of living, high interest rates, emerging cyber threats
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  Speaker 2: and rising insurance costs. Most are confident in Finance Minister
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  Speaker 2: Nicola Willis's handling of the economy and in Education Minister
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  Speaker 2: Erica Stanford, who came out top of the pops, the
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  Speaker 2: top performer out of cabinet so far. Finance Minister Nichola
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  Speaker 2: Willis is with us this evening, killeder. Would you say,
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  Speaker 2: overall pretty decent results.
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  Speaker 3: Yeah. Look, I think it's good to see that business
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  Speaker 3: shares the government's optimism that we're turning a corner on
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  Speaker 3: the economy, that we are seeing green shirts and they're
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  Speaker 3: focused on the same things we are, which is, let's
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  Speaker 3: get growth, hatne investment, new jobs, more innovation, more exporting
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  Speaker 3: so we're on the same page.
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  Speaker 2: How long do you think it takes for that optimism
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  Speaker 2: to trickle through to other parts of the economy that
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  Speaker 2: are maybe still a bit gloomy.
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  Speaker 3: Well, I think as we see interest rates falling, we
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  Speaker 3: will see that spread through the regions and through a
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  Speaker 3: number of different sectors. You are seeing the optimism scores
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  Speaker 3: and the business confidence surveys increasing pretty dramatically already, but
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  Speaker 3: unrealistic if you're a small business in some parts of
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  Speaker 3: the country, if you're in one of the regions that's
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  Speaker 3: been badly affected by a mile closure, you're not feeling
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  Speaker 3: it yet, so it will take some time for the
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  Speaker 3: chair to spread.
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  Speaker 2: What was the message that you got today when it
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  Speaker 2: comes to energy prices, Well, it's clear.
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  Speaker 3: That this is a major concern for business, and I
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  Speaker 3: agree with them. Having affordable, low carbon sources of electricity.
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  Speaker 3: Electricity is going to be critical to New Zealand's future.
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  Speaker 3: We're doing our bit with the fast track consenting regime
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  Speaker 3: that we think will allow a lot more renewable generation
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  Speaker 3: projects to come on faster that solar, that's wind, potentially geothermal.
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  Speaker 3: We're going to need that because the world is now
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  Speaker 3: competing for affordable electricity, and New Zealand wants to be
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  Speaker 3: in that race.
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  Speaker 2: Have any of those business leaders expressed to you that
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  Speaker 2: they want to see the gen Taylor's supply and retail
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  Speaker 2: arms split up.
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  Speaker 3: I haven't had that expressed to me directly by any
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  Speaker 3: of the leaders in that room. I think what people
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  Speaker 3: are conscious of is the need for competition and the
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  Speaker 3: need for structures that incentivize investment in generation. We had
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  Speaker 3: seen since we were elected a lot more projects being
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  Speaker 3: committed to by the generators, which is positive to see,
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  Speaker 3: and we are, as we said previously, monitoring that market
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  Speaker 3: because it's really important that it functions effective as the
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  Speaker 3: New Zealanders.
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  Speaker 2: So you came third in the minister performances, it's really good.
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  Speaker 3: Yeah, that is. I'm one of those people who always
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  Speaker 3: aims to be the best I can be, so I'll
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  Speaker 3: always want to do better. But genuinely delighted to see
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  Speaker 3: my colleague Eric Stanford top the pots because her work
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  Speaker 3: and education is so foundational for the country's future economically
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  Speaker 3: and socially, and to see business leaders reflecting what a
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  Speaker 3: great job she's doing look good to see.
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  Speaker 2: Did kevinet menisters take this stuff at all? Seriously.
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  Speaker 3: Well, we're constantly being judged just by the boardroom, but
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  Speaker 3: by our communities, by the people we serve, by our neighbors,
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  Speaker 3: our colleagues, our party members, and so this is part
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  Speaker 3: of the course. This is one audience, it's certainly not
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  Speaker 3: the only audience. And ultimately New Zealand voters give us
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  Speaker 3: the score out of five when they vote in twenty
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  Speaker 3: twenty six.
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  Speaker 2: Talk to us a bit more than about the conversation
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  Speaker 2: that you're looking to start with Barbara Edmonds when it
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  Speaker 2: comes to superannuation.
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  Speaker 3: Well, look, Barbara set out the big challenges she sees
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  Speaker 3: for New Zealand and twenty six for many decades from now,
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  Speaker 3: and when we have that conversation, it's really clear that
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  Speaker 3: demographically we are going to be an older population with
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  Speaker 3: fewer working people. That raises real questions about the ongoing
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  Speaker 3: sustainability of our superannuation scheme. And at the last election,
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  Speaker 3: the National Party wanted to have a conversation about that,
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  Speaker 3: how do we keep the scheme sustainable with people living longer,
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  Speaker 3: healthier lives. Should we be raising that age and that's
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  Speaker 3: what we campaigned on. So our challenged Barbara I said, well,
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  Speaker 3: if you're up to tough conversations. Let's talk about super
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  Speaker 3: and I was really pleased she said, yeah, I'll take
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  Speaker 3: you up on that challenge. Let's have that conversation.
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  Speaker 2: What kind of changes would that theoretically mean. I know
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  Speaker 2: that you guys have had differing positions in terms of campaigning,
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  Speaker 2: but it's not always the sort of left versus right issue,
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  Speaker 2: not necessarily anyway.
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  Speaker 3: No, I don't see it that way. Certainly the current
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  Speaker 3: government maybe be clear. Jack has the position that we
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  Speaker 3: won't be raising the age of superannuation and that's a
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  Speaker 3: core coalition commitment with New Zealand first, which I respect.
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  Speaker 3: But as Finance spokesperson for the National Party and with
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  Speaker 3: four kids of my own, when I look ahead to
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  Speaker 3: New Zealand's future, I want our super scheme to be sustainable,
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  Speaker 3: for people to be clear about what the entitlements will
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  Speaker 3: be down the track. And I can see that the
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  Speaker 3: bill is going to become really really disproportionate to the
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  Speaker 3: other areas we want to invest in, whether that's education,
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  Speaker 3: health for others, and to me, raising the age is
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  Speaker 3: a simple step we could take to make it more affordable.
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  Speaker 3: But as I said, I'm genuinely up for the conversation
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  Speaker 3: with Barbara and what other other ideas she may want
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  Speaker 3: to contribute to the table.
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  Speaker 2: Having the perspective that you have in this role and
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  Speaker 2: having your eyes over the detail, over the numbers. Do
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  Speaker 2: you think it is feasible that people who are your
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  Speaker 2: kids age now will be able to retire with something
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  Speaker 2: akin to superannuation as we have today when they're sixty five.
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  Speaker 3: I think it'll be something akin to it, but I
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  Speaker 3: think there have to be changes between now and when
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  Speaker 3: my kids are sixty five.
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  Speaker 2: Thanks for your time. That's Finance Minister Nikola Willis, just
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  Speaker 2: so you know. In the last few minutes, the Associate
• 6:13
  Speaker 2: Health Minister Casey Costello has released her independent advice on
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  Speaker 2: heated tobacco products. I'm going to rede you what that advice.
• 6:22
  Speaker 2: I'll explain to you what that advice entails. Advice entails
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  Speaker 2: in a few minutes. Next up, though zied Heralds Editor
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  Speaker 2: at large Liam Dan here with his takes from this
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  Speaker 2: morning's mood of the boardroom. It's quarter past six.
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