Heather du Plessis-Allan

So is this the level of money that you think that we should be spending annually on things like stock banks?

OK, so I get what you're doing here, right?

What you want is you want fence at the top of the cliff rather than the ambulance at the bottom.

But problem is who now, who funds fence?

Because this levy is supposed to fund fence.

Thanks very much for talking us through it.

Chris Farfoy, CEO of the Insurance Council of New Zealand.

It looks like there is interest from private business in exploring for gas in New Zealand.

Government data shows that there have been 11 expressions of interest from businesses to co-invest with the government using the government's $200 million gas security fund.

John Carnegie is the Chief Executive of Energy Resources Aotearoa and with us.

Morning, John.

Hasn't the ship sailed on this?

What is the timeline from here?

So they express the interest.

How long before they're actually out there looking for gas?

Yeah.

John, thanks very much.

Really appreciate your time.

So the big business news locally is that two New Zealand-owned banks intend to merge.

Heartland Bank has announced a conditional agreement to buy TSB for $620 million, which would create the TSB Heartland Bank.