Please invest: PM Christopher Luxon sends message to world, releases first ‘action plan’ of the year
The Government has published its first “action plan” of the year, pledging to use “every tool in the box” to increase foreign investment and improve the economy.
The plan, published on Monday, covers the period from January 1 to March 31 and includes 40 points across the cost of living, economy, law and order and improving public services.
It also covers the already-announced new “one-stop shop” agency Invest New Zealand and altering the settings of the so-called “golden visa” to attract wealthy investors to New Zealand.
Hosting an investment summit to show off the country’s investment opportunities to around 100 high-profile overseas investors, business leaders and construction companies is also one of the targets.
Prime Minister Christopher Luxon hopes to pique attendees’ interest enough to inspire investments that boost “the growth New Zealand needs to lift our incomes, strengthen our businesses, and create opportunities for all Kiwis”.
“To make it clear we are open for business ... I will open the summit and many Cabinet ministers will be at the event to share the Government’s ambitions and plans over the two days,” he said.
“Attendees will be left in no doubt that New Zealand is a country worth investing in.”
The investor summit was about “unleashing the potential” New Zealand had to enable economic growth and address the country’s infrastructure deficit, estimated to be worth $100 billion.
Minister for Infrastructure Chris Bishop said that was the equivalent of 80 Transmission Gully motorways, three times the size of the country’s entire school property portfolio and eight times the size of the hospital network.
“Our infrastructure deficit is a major drag on productivity and growth and to fix it the Government has a massive programme of infrastructure investment over the next five years. We can’t buy our way out alone – we need to patch the leak and the leaky bucket using every tool in the toolbox.”
'Very tough summer'
Todd Murray
On the latest TPU poll, Luxon conceded the increase in Kiwis believing the country was headed down the wrong track and showed that it had been a tough time for New Zealanders.
"They've had a very tough summer," Luxon said.
"But the plan is beginning to work," Luxon said as he referenced dropping inflation and the Government's economic growth measures.
Todd Murray
"I'm not here to comment on statements from the US president," Luxon said when asked about Donald Trump's recent comments about acquiring Greenland.
On the Cook Islands and China deal, Luxon acknowledged any items concerning defence and security would be of interest and would be very important.
Todd Murray
"We are progressing conversations on a range of issues, including those," Luxon said when asked about what changes the Government might make to the current ban on foreigners being able to purchase NZ homes.
"You can see we're announcing things each and every week. When we're ready to tell you, we'll tell you."
Todd Murray
On the investors' summit, Bishop said there would be "investment opportunities" but it would be largely focused on the infrastructure pipeline that could attract investors. It would highlight opportunities in the coming years in a "clear and consistent pipeline".
Bishop wouldn't detail what investment projects were currently ready for investment.
'Wait and see' says Luxon on Cook Islands PM's visit to China
Todd Murray
On the Cook Islands and its impending agreement with China, Luxon said he would "wait and see" to what was in the deal. Prime Minister Mark Brown was travelling to China this week to sign it but details of its content were scarce.
"Once we see the agreement, we'll make our assessment."
"We expect transparency and we're calling that out," Luxon said while acknowledging New Zealand and the Cook Islands were in dispute over the matter.
The Cook Islands was self-governing but was in free association with New Zealand.
"We don't see eye to eye on these issues," Luxon said of the deal and a recent proposal that the Cook Islands would create its own passport.
Citizens currently hold New Zealand passports. It has been reported that the proposal is not being progressed after Foreign Minister Winston Peters opposed it publicly.
'Sending the letter was ill-advised'
Todd Murray
Asked about Seymour's letter of support for Philip Polkinghorne in 2022, Luxon said: "Personally, I thought sending the letter was ill-advised."
Luxon stressed the letter was sent before Seymour was a minister in his Government and there had been no breaches of the Cabinet Manual. He said it was important that there was no interference from politicians in police investigations.
Luxon believed sending such a letter would be inappropriate for a minister or an MP.
"It's a hypothetical, he didn't write it as a minister," Luxon said when asked if he would've sacked Seymour if he'd written the letter as a minister of his Government.
Luxon confirmed he was made aware of the letter shortly before it was published by the Herald.
Todd Murray
On Act leader David Seymour driving a vehicle up Parliament steps today, Luxon said: "I'm not that interested in political sideshows."
He said it was a matter for Speaker of the House Gerry Brownlee.
Todd Murray
"We're country-agnostic," Luxon said when asked where the investors would come from. The Government wasn't funding their travel to the summit.
Todd Murray
Luxon also spoke to the Government's 2025 quarter-one plan, which was released today.
Some have already been completed, such as the ability to allow people from overseas to work while in New Zealand.
"We have a lot to say yes to," Luxon said of the Government's approach to 2025.
Todd Murray
The summit would be held on March 13-14 and limited to invite-only. Bishop claimed they were "over-subscribed" with interest.
Todd Murray
The investor summit was about "unleashing the potential" New Zealand had to enable economic growth and address the country's infrastructure deficit, estimated to be worth $100 billion - the equivalent of 80 Transmission Gully motorways.
Bishop cited the Government's initial work to fix the deficit, including the new fast-track consenting laws and removing regulatory red tape.
'NZ open for business'
Todd Murray
Prime Minister Christopher Luxon, joined by Infrastructure Minister Chris Bishop, is kicking off the first post-Cabinet press conference for 2025.
"New Zealand is open for business," Luxon said as he referenced the investor summit he plans to host in mid-March.
About 100 top leaders from global investment firms would be taking part, people from "all corners of the world" who would "say yes to getting stuff done", Luxon claimed.
Luxon would open the summit personally and several ministers would be working with participants.
Post-Cabinet press conference to be be live-streamed at 4pm
Tom Dillane
The PM is expected to announce more measures for boosting foreign investment today, after already announcing plans for a “one stop shop” agency solely focused on attracting overseas investors, called Investment New Zealand.
The Post-Cabinet press conference is expected to start at 4pm and will be live-streamed at the top of this article.
Earlier today, a new Taxpayers’ Union-Curia poll found the centre-left bloc could form Government if an election was held today – for the first time in almost two years.
The summit will be held in Auckland on March 13-14 and will be limited to invite-only. Bishop claimed they were “over-subscribed” with interest.
He said there would be “investment opportunities” but the summit would be largely focused on the infrastructure pipeline that could attract investors. It would highlight opportunities in the coming years in a “clear and consistent pipeline”.
Bishop wouldn’t detail what investment projects were currently ready for investment.
Luxon spent much of the press conference fielding questions about Act leader and soon-to-be Deputy Prime Minister David Seymour. Hours earlier, Seymour had tried to drive a Land Rover up the steps of Parliament, a move Luxon labelled a “political sideshow.”
On Monday morning, it was also revealed Seymour had written a letter to police supporting Philip Polkinghorne during the investigation into his wife’s death. Luxon said Seymour’s decision was “ill-advised”, but he hadn’t broken the Cabinet Manual as he was not a Cabinet minister at the time.
The post-Cabinet press conference was bookended by two political polls which both found the left bloc would be able to form a Government, although National Party support was also up in both.
Last week Luxon defended his choice not to visit Waitangi for the country’s national day. Instead, the PM spent the day at Ōnuku Marae near Akaroa in Canterbury with Ngāi Tahu.
“I’ve always had a view that I want to go around the country where the Treaty was signed.”
He said while he may travel in future he does not want the day to be “dominated” by the historic site.
The Government was represented at Waitangi by Seymour and other senior ministers and party leaders, including Winston Peters, Shane Jones, Tama Potaka, Shane Reti, Paul Goldsmith and Erica Stanford.
Julia Gabel is a Wellington-based political reporter. She joined the Herald in 2020 and has most recently focused on data journalism.