Nicola Willis: Finance Minister hints at upcoming update into procuring new ferries, potential corporate tax cuts

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Recorded03 Feb 2025

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The Finance Minister's floated potential tax cuts for corporations. Speaking to Ryan Bridge about economic growth, Nicola Willis says our corporate tax rate is reasonably high compared to the rest of the world. Asked if she's planning to lower the tax to encourage investment in the country, Willis says while the money would have to come from somewhere, they're looking at a range of potential tax system changes. She says we need to be more competitive with other countries when it comes to our corporate tax rates. More details could be coming this week about the procuring company for the Interislander ferries. In December last year, the Government announced it would set up a company to procure the ferries, freeing up Kiwirail. It's committed to a March deadline. Willis says she believes Minister-in-Charge Winston Peters has a handle on the process - and will be incorporating once the directors are appointed. She says her alternative procurement plan is ready to go as a fallback. "The Minister for Rail is doing the right thing, he is comparing that option with what else might be out there and he's running the process to do that." LISTEN ABOVESee omnystudio.com/listener for privacy information.

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