Latest news with #Nicola Willis
RNZ News
4 hours ago
- Business
- RNZ News
'Butter is expensive right now. There's no getting away from that' - Finance Minister Nicola Willis
File photo. Photo: Margaret Jaszowska for Unsplash The Finance Minister does not believe New Zealanders are getting a "raw deal" on butter, but has accepted there is no getting away from how expensive it is right now. Nicola Willis met with Fonterra's chief executive Miles Hurrell at Parliament on Tuesday evening. While the two meet regularly, there was increased interest in the meeting due to the current price of butter. Willis had earlier said it was something she would discuss with Hurrell. Characterising the meeting as "constructive and engaging," Willis said Hurrell was candid about the way butter was priced in New Zealand. Her summarisation of her meeting with Fonterra largely zeroed in on her drive to increase supermarket competition. The large proportion of what people pay for butter is dictated by global demand, which is something the government could not control. "Were that price to come down, you would expect that to be reflected in the prices that New Zealand shoppers pay," Willis said. Hurrell had told her that butter had once been the hardest product for Fonterra to sell globally, but the increasing demand was due to reporting on its health benefits. "It was once viewed as a bogeyman," she said. The meeting had reinforced Willis' interest in increasing supermarket competition to put downward pressure on the price of butter. "All roads lead back to supermarket competition. I continue to believe that is the most powerful lever that the government has on this issue. We will never be able to control global dairy prices. What we can influence is the amount of competition in New Zealand's grocery sector and we have a lot of work underway to address that." Finance Minister Nicola Willis does not believe New Zealanders are getting a "raw deal" on butter. Photo: RNZ / Mark Papalii Fonterra had also observed the supermarket competition. "Miles specifically conveyed that Fonterra operates in a number of markets around the world, most of which have a more competitive supermarket sector, and that it does feel different in New Zealand." She would leave it to supermarkets and Fonterra to argue who was charging what margin. "The sense that I got from my engagement with Miles is that it's a constant battle between them. Each party are probably going to point fingers at the other." Hurrell would not answer questions when RNZ approached him outside Parliament on Tuesday night, but a Fonterra spokesperson said the meeting was "constructive". Willis said she had encouraged Hurrell to front, in particular to explain what proportion of the margins go to Fonterra and what goes to supermarkets. Acknowledging that Fonterra's job was to get the best possible price for its shareholders, Willis also accepted New Zealanders saw the downsides of that when they were shopping. "I've been satisfied that I don't think consumers are getting a raw deal. I think that there is good work going on to ensure that there is pressure and competition from Fonterra to try and keep its prices low. But I get it. Butter is expensive right now. There's no getting away from that." Sign up for Ngā Pitopito Kōrero , a daily newsletter curated by our editors and delivered straight to your inbox every weekday.
RNZ News
15 hours ago
- Business
- RNZ News
Fonterra says meeting with Nicola Willis 'constructive'
Fonterra chief executive Miles Hurrell . Photo: Fonterra says its meeting with the Finance Minister was "constructive", following a discussion about butter prices. But the substance of the discussions is still to be revealed. Nicola Willis had alerted Fonterra, as a courtesy, that she planned to speak about the price of butter in one of their regular meetings. Willis had earlier said the conversation would look at what goes into the cost, and whether supermarkets are to blame , pointing out Australia seems to have cheaper butter than New Zealand. She said Fonterra was transparent about how it determined milk prices, but it was less clear to her how that then translated to butter. "What we're talking about here is at the margin - 10 or 20 cents - but 10 or 20 cents really matters when you're a Kiwi family at the supermarket checkout." The meeting happened at Parliament on Tuesday evening. Willis' office declined to comment on the outcome. Fonterra's chief executive Miles Hurrell also would not comment on the meeting when RNZ approached him outside Parliament. But a Fonterra spokesperson said Hurrell "had a constructive meeting with the Finance Minister" and he would talk to media later in the week. Sign up for Ngā Pitopito Kōrero , a daily newsletter curated by our editors and delivered straight to your inbox every weekday.
RNZ News
3 days ago
- Business
- RNZ News
Watch: Govt says billions being spent on infrastruture will create thousands of jobs
The government on Sunday morning has released an infrastructure update showing $6 billion of government-funded construction is due to start between now and Christmas. The ministers who were visiting a construction site in Drury were due to speak to media at 10.30am. Their briefing can be viewed at the top of this story. Prime Minister Christopher Luxon also took part in the briefing. Minister for Economic Growth Nicola Willis and Minister for Infrastructure Chris Bishop said in a media release the projects would drive economic activity and create thousands of jobs across the country. "The projects getting underway include new roads, hospitals, schools, high-tech laboratories and other government buildings," Willis said. "That means spades in the ground, jobs throughout the country and a stronger economy. Minister for Economic Growth Nicola Willis. Photo: RNZ / Mark Papalii "Improving the quality of New Zealand's infrastructure is critical to growing the economy and helping Kiwis with the cost of living. "Good roads, schools and hospitals help business to move goods and services to market quickly and efficiently, children to learn and doctors and nurses to get patients back on their feet." The projects getting underway would create thousands of employment opportunities for New Zealanders, Bishop said. "Numbers vary according to the nature of projects, but data sourced from the Infrastructure Commission suggests each billion dollars of infrastructure investment per year equates to about 4500 jobs. "In total, workers are expected to start construction on $3.9 billion worth of roading projects in the next few months. They include the Ōtaki to north of Levin expressway, the Melling interchange, the Waihoehoe Road upgrade, and the new Ōmanawa bridge on SH29. All will help to lift productivity by getting people and freight to their destinations quickly and safely. "Health projects kicking off include upgrades to Auckland City Hospital, Middlemore Hospital, and the construction of a new acute mental health unit at Hutt Valley Hospital. Construction work on the new inpatients building at the new Dunedin Hospital has also just begun." Projects focused on improving school properties nearly $800 million in value would also be underway before the end of the year, he said. Minister for Infrastructure Chris Bishop. Photo: VNP/Louis Collins "Other government infrastructure projects due to start before the end of this year include a massive new state-of-the-art biosecurity facility in Auckland for the Ministry of Primary Industries and the Papakura District Court interim courthouse. "Importantly, this is just the start. The National Infrastructure Pipeline, managed by the Infrastructure Commission, now shows planned future projects totalling $207 billion across central government, local government and the private sector." Alongside the infrastructure update, Nicola Willis today released an update on the government's Infrastructure for Growth work programme. The update is the first refresh of the Going for Growth agenda launched in February to drive economic growth by backing business, improving infrastructure and skills, and removing barriers to innovation. The projects beginning construction include: Sign up for Ngā Pitopito Kōrero , a daily newsletter curated by our editors and delivered straight to your inbox every weekday.
RNZ News
3 days ago
- Business
- RNZ News
Watch: Govt says billions being spent on infrastrastructure will create thousands of jobs
The government on Sunday morning has released an infrastructure update showing $6 billion of government-funded construction is due to start between now and Christmas. The ministers who were visiting a construction site in Drury were due to speak to media at 10.30am. Their briefing can be viewed at the top of this story. Prime Minister Christopher Luxon also took part in the briefing. Minister for Economic Growth Nicola Willis and Minister for Infrastructure Chris Bishop said in a media release the projects would drive economic activity and create thousands of jobs across the country. "The projects getting underway include new roads, hospitals, schools, high-tech laboratories and other government buildings," Willis said. "That means spades in the ground, jobs throughout the country and a stronger economy. Minister for Economic Growth Nicola Willis. Photo: RNZ / Mark Papalii "Improving the quality of New Zealand's infrastructure is critical to growing the economy and helping Kiwis with the cost of living. "Good roads, schools and hospitals help business to move goods and services to market quickly and efficiently, children to learn and doctors and nurses to get patients back on their feet." The projects getting underway would create thousands of employment opportunities for New Zealanders, Bishop said. "Numbers vary according to the nature of projects, but data sourced from the Infrastructure Commission suggests each billion dollars of infrastructure investment per year equates to about 4500 jobs. "In total, workers are expected to start construction on $3.9 billion worth of roading projects in the next few months. They include the Ōtaki to north of Levin expressway, the Melling interchange, the Waihoehoe Road upgrade, and the new Ōmanawa bridge on SH29. All will help to lift productivity by getting people and freight to their destinations quickly and safely. "Health projects kicking off include upgrades to Auckland City Hospital, Middlemore Hospital, and the construction of a new acute mental health unit at Hutt Valley Hospital. Construction work on the new inpatients building at the new Dunedin Hospital has also just begun." Projects focused on improving school properties nearly $800 million in value would also be underway before the end of the year, he said. Minister for Infrastructure Chris Bishop. Photo: VNP/Louis Collins "Other government infrastructure projects due to start before the end of this year include a massive new state-of-the-art biosecurity facility in Auckland for the Ministry of Primary Industries and the Papakura District Court interim courthouse. "Importantly, this is just the start. The National Infrastructure Pipeline, managed by the Infrastructure Commission, now shows planned future projects totalling $207 billion across central government, local government and the private sector." Alongside the infrastructure update, Nicola Willis today released an update on the government's Infrastructure for Growth work programme. The update is the first refresh of the Going for Growth agenda launched in February to drive economic growth by backing business, improving infrastructure and skills, and removing barriers to innovation. The projects beginning construction include: Sign up for Ngā Pitopito Kōrero , a daily newsletter curated by our editors and delivered straight to your inbox every weekday.
RNZ News
3 days ago
- Business
- RNZ News
Watch live: Govt says billions being spent on infrastrastructure will create thousands of jobs
The government on Sunday morning has released an infrastructure update showing $6 billion of government-funded construction is due to start between now and Christmas. The ministers who were visiting a construction site in Drury were due to speak to media at 10.30am. Their briefing can be viewed at the top of this story. Prime Minister Christopher Luxon also took part in the briefing. Minister for Economic Growth Nicola Willis and Minister for Infrastructure Chris Bishop said in a media release the projects would drive economic activity and create thousands of jobs across the country. "The projects getting underway include new roads, hospitals, schools, high-tech laboratories and other government buildings," Willis said. "That means spades in the ground, jobs throughout the country and a stronger economy. Minister for Economic Growth Nicola Willis. Photo: RNZ / Mark Papalii "Improving the quality of New Zealand's infrastructure is critical to growing the economy and helping Kiwis with the cost of living. "Good roads, schools and hospitals help business to move goods and services to market quickly and efficiently, children to learn and doctors and nurses to get patients back on their feet." The projects getting underway would create thousands of employment opportunities for New Zealanders, Bishop said. "Numbers vary according to the nature of projects, but data sourced from the Infrastructure Commission suggests each billion dollars of infrastructure investment per year equates to about 4500 jobs. "In total, workers are expected to start construction on $3.9 billion worth of roading projects in the next few months. They include the Ōtaki to north of Levin expressway, the Melling interchange, the Waihoehoe Road upgrade, and the new Ōmanawa bridge on SH29. All will help to lift productivity by getting people and freight to their destinations quickly and safely. "Health projects kicking off include upgrades to Auckland City Hospital, Middlemore Hospital, and the construction of a new acute mental health unit at Hutt Valley Hospital. Construction work on the new inpatients building at the new Dunedin Hospital has also just begun." Projects focused on improving school properties nearly $800 million in value would also be underway before the end of the year, he said. Minister for Infrastructure Chris Bishop. Photo: VNP/Louis Collins "Other government infrastructure projects due to start before the end of this year include a massive new state-of-the-art biosecurity facility in Auckland for the Ministry of Primary Industries and the Papakura District Court interim courthouse. "Importantly, this is just the start. The National Infrastructure Pipeline, managed by the Infrastructure Commission, now shows planned future projects totalling $207 billion across central government, local government and the private sector." Alongside the infrastructure update, Nicola Willis today released an update on the government's Infrastructure for Growth work programme. The update is the first refresh of the Going for Growth agenda launched in February to drive economic growth by backing business, improving infrastructure and skills, and removing barriers to innovation. The projects beginning construction include: Sign up for Ngā Pitopito Kōrero , a daily newsletter curated by our editors and delivered straight to your inbox every weekday.
