Prime Minister backs NBR Rich List's celebration of success
The country should be celebrating the success of NBR Rich Listers, Prime Minister Christopher Luxon says.
The 2025 NBR Rich List was released today, revealing that the country's leading wealth creators are now collectively worth more than $100 billion.
The latest NBR Rich List, published today,
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RNZ News
2 hours ago
- RNZ News
‘Devil will be in detail': Luxon reacts to possible USA-China trade deal
Prime Minister Christopher Luxon says a possible USA-China trade deal is positive news, but time will tell what it means for New Zealand and the rest of the world. US President Donald Trump said a deal with China is "done" after two days of high-level talks in London. Luxon welcomed the news but wanted to see the finer details. "What we want to see is more certainty in the global trading environment, and I've read the reports as well," he said. "The devil will be in the detail, but that can only be a good thing." Luxon said he expected to discuss the matter with China President Xi Jinping on his next trip the global giant. "I'm sure that will be a topic of conversation about how we see the global trading environment and how we're observing in the region, but also around the world," he said. Despite the trade uncertainty, Luxon said New Zealand exporters to the US had been making good progress. Prime Minister Christopher Luxon speaks to media. Photo: RNZ / Marika Khabazi "They'll still finding really great opportunities to grow their businesses, they're doing a great job of targeting the right channels and customers," he said. "But yes, of course that will be a big top of conversation when I do catch up with both President Xi and Premier Li (Qiang) in due course." Agriculture Minister Todd McClay also welcomed the news of a possible US-China trade deal. The overnight announcement comes as the government welcomes the state of the country's agriculture sector. The Ministry of Primary Industries' Situation and Outlook report is projecting a double digit increase in New Zealand export revenues this year - though it warns about global uncertainty. It estimates New Zealand's agricultural export revenue could reach just under $60 billion by the end of June, up from a dip in 2023-4. McClay told Morning Report if a US-China deal has been done it would be "good news". At an OECD trade ministers meeting in Paris last week he had met with the trade ministers of both China and the US. Both had then gone off for joint talks so some momentum had been building to try and find a solution to their tariffs impasse. If things calmed down for international trade it would bring "welcome relief" for exporters and result in some "sensible decision-making". McClay said the remarkable growth in primary exports was very positive. Dairy had enjoyed a solid season with a good supply of grass which had increased milk production. The meat sector was performing well and for the first time $5 billion worth of kiwifruit had been exported. Even the US market faced with tariff uncertainty was providing some opportunities for Kiwi exporters, citing the example of NZ King Salmon which has talked of increased sales at a higher price. Kiwi exporters were working hard to add value to their products, McClay said. One example was selling ready to eat burger patties to China which resulted in greater returns for farmers. "So we're seeing Kiwi exporters go for value, not competing on price anywhere as much as they used to." Photo: RNZ / Richard Tindiller Luxon said the government, particularly McClay and Finance Minister Nicola Willis could take a "tremendous credit" for the growth. "We've created the conditions for growth; it's ultimately up to the businesses themselves to go out and seize on those opportunities," he said. "But if I think about the work that Todd's undertaken to make sure we're opening new markets, whether it's the GCC, the UAE, a 21 percent growth in the UK just in the last 12 months, a 28 percent in the EU by virtue of Todd bringing that agreement into earlier acceptance. "There's been tremendous progress made on the trade front, and I think Nicola's work to make sure that she's cleaning up the books, good financial management, good fiscal management to lower inflation, to lower interest rates to get the economy growing, to get people employed - that's the work we've been doing as a government." Luxon reiterated the government's belief in the importance of growth and said it was the primary industry sector pulling New Zealand out of a recession. "We've got a really exciting future to shape it despite all the volatility that's out there in the world. "Really proud of the primary industry sector, but also proud of the work of both Nicola and Todd and all of our team to create the conditions for growth as well." A government-backed grass certification standard for dairy and meat exports had been launched at Mystery Creek Fieldays yesterday, McClay said. This would be highly desirable for markets in China, other parts of Asia and the Middle East, McClay said. "Grass fed now is increasingly wanted by consumers and they're willing to pay more." On sustainable products, Groundswell has been calling for New Zealand to exit the Paris Agreement on Climate Change. McClay said that was not going to happen mainly because it would make exports to many markets untenable. He believed Groundswell and others were worried about higher costs and lower production if they adopted sustainable measures. "We've been really clear - we think through technology and other things we can meet these obligations without putting farmers out of business." Alternatives to farmers going into the Emissions Trading Scheme were being worked on and would be announced soon. McClay said the requirement of reducing methane by 10 percent by 2030 was on track to be met. "So it shows farmers are willing to do it but we have to lean heavily into technology rather than just planting trees." A number of products, known as methane inhibitors , have been developed already although they might have to overcome consumer resistance. McClay said anything developed would have to go through rigorous scientific testing. There would be a range of solutions developed and farmers would decide which ones they wanted to pick up. "The overseas customers through the dairy company should be paying for this, not the New Zealand farmer." Sign up for Ngā Pitopito Kōrero , a daily newsletter curated by our editors and delivered straight to your inbox every weekday.
RNZ News
2 hours ago
- RNZ News
Judith Collins says possible AUKUS security pact review not for NZ to comment on
Defence Minister Judith Collins Photo: RNZ / Marika Khabazi The Defence Minister says there's no reason for New Zealand to comment on reports the Pentagon is reviewing the AUKUS defence alliance. A US defence official told Reuters the review was part of ensuring the security pact was aligned with the President's America First agenda. The strategic pact between the US, UK and Australia had long been a talking point in New Zealand, with consecutive governments pondering whether to join parts of the alliance. AUKUS was formed in 2021 to address shared worries about China's growing power. Under the pact, Australia would be armed with nuclear submarines at a cost of A$350 billion (NZ$377 billion). In a statement, Defence Minister Judith Collins said the US review was about AUKUS Pillar One, which New Zealand had never been a part of. New Zealand has had ongoing discussions about joining Pillar Two of the alliance, but any decisions on whether to join Pillar Two would be a matter for Cabinet, Collins said. Prime Minister Christopher Luxon has not received any reports or advice on what the Trump Administration reviewing the AUKUS security pact might mean for New Zealand. Luxon told RNZ he was not concerned the review could spell the end for Pillar Two "It's been left very open-ended. We're exploring Pillar Two - it's been to be honest quite slow going. "We are yet to be invited to partipate in Pillar Two." Luxon said the review was for Australia, the US, and the UK to work through. Australia was last week told by US Defence Secretary Pete Hegseth to significantly boost its defence spending. Australian Prime Minister Anthony Albanese said he would not be dictated to on defence spending. He he noted Australia's defence spending was already set to increase from 2 percent to 2.3 percent of Gross Domestic Product (GDP) over the next eight years. New Zealand had also come under pressure from the Trump administration this year for to up defence spending to 2 percent of GDP. Foreign Minister Winston Peters previously said New Zealand's trading partners would judge us if we did not "step up" and play our role by increasing defence spending.
RNZ News
7 hours ago
- RNZ News
Fieldays: Farmers expected to come on board as methane science advances
Prime Minister Christopher Luxon at the Science for Farmers tent at Fieldays. Photo: Eloise Gibson The Prime Minister's new chief science adviser believes farmers will come around to technologies that cut their emissions. Some farming groups oppose inventions like methane vaccines, but John Roche says farmers will accept change once they see the products work. For a long time, one of the main concerns for farmers about tackling climate change was the lack of new technologies to lower emissions, without hurting productivity. Prime Minister Christopher Luxon listen to a speech in the Farmers for Science tent. Photo: RNZ / Eloise Gibson Now emissions-cutting products are close to being launched, and some farmers are saying they don't want them. Groups such as Beef + Lamb say methane emissions shouldn't be priced because it would force farmers to use products such as methane vaccines and other technology when they shouldn't have to. Groundswell recently released a survey saying its members did not want to use methane-cutting products (called inhibitors) and didn't believe action on emissions should affect their access to overseas markets. Fonterra, by contrast, has signed up to reduce dairy emissions to secure what it says are higher value exports to customers such as Nestlé. Roche said although there was a noisy segment that still needed a little convincing he was confident most farmers will come round. "New Zealand farmers have always adopted technologies that improve their efficiency, that improve the saleability of their products," he said. "I think it will be the same here, and they will adopt the technologies as they come on board, as they become more affordable and importantly as they see other farmers use them and see that they work." Roche splits his time between his new role as Christopher Luxon's chief science adviser and being the chief science advisor for the Ministry for Primary Industries. John Roche has a split role. Photo: Supplied He helped arrange a tent called Science for Farmers at Fieldays, where farmers could speak to researchers working on scientific innovations, including emissions-cutting products. One stall housed rectangular planter boxes of lush pasture - not your typical ryegrass and clover, but diverse mixtures of up to seven species including the herb plantain. Danny Donaghy from Massey University said these pasture mixtures should better withstand droughts and/or floods, and contribute less to the problem of global heating by releasing less nitrous oxide from the soil and methane from the animals that eat them. Research funding group the Ag Emissions Centre was also there, sharing research showing dairy cow daughters inherit low-methane traits from their fathers. It said that paved the way for lower-methane breeding bulls from late 2026. Less advanced, but moving quickly, was Lucidome Bio's methane vaccine, currently being trialled in Palmerston North. Chief executive David Aitken said the company was aiming for a 20-30 percent reduction in methane from sheep and cattle lasting for about six months - and to have it on farms within five years. "The vaccine stimulates antibodies in the saliva of the ruminant. The antibodies are then transported into the rumen, where they bind onto the methanogens that produce methane, inhibit the growth and reduce the amount of methane." Over time the company hopes to get a productivity gain from the vaccine, since methanogens steal some of the animal's energy. "But at the minimum we are looking at a solution that's neutral on productivity so we get the climate benefits without losing profitability or productivity." At another stall in the tent, farm software company FarmIQ was explaining how its software can estimate changes in profits, production and emissions from changing various aspects of a farm. Chief executive Gavin McEwen said farmers can already reduce emissions by one to five percent through measures like using less nitrogen fertiliser and reducing stocking rates, often without sacrificing production. But bigger-hitting technologies are coming soon, like slow-release boluses that animals swallow to lower emissions. Head of sales Russell MacKay, a fifth generation farmer, says good financial times should help farmers buy new climate tech. "When the farmers are making money that means there more cash more money for fencing off waterways and bringing in new technology to help the environment."
