Nicola Willis talking to business people in Hamilton.
Finance Minister Nicola Willis has outlined her vision for council funding, banking competition, and women’s leadership, while celebrating New Zealand’s export success and future growth.
Nicola Willis in that bright pink trouser suit speaking to a Waikato business audience. Photo: Mary Anne Gill
Speaking after a Waikato Chamber of Commerce business luncheon last week, Willis said the government is working to give councils more tools to fund growth without relying solely on rate hikes.
She acknowledged concerns about steep increases in Tier One growth councils – Hamilton, Waipā, and Waikato – and promised further policy announcements before Christmas.
Key measures include the National Infrastructure Funding and Financing Entity, which provides new instruments for major developments, and an overhaul of development levies to give councils greater flexibility.
From there, Willis turned to Waikato’s rapid expansion, praising the region’s momentum and pointing to projects such as the new regional theatre, commercial developments, Waikato Medical School, and major roading upgrades, including the Southern Links and Cambridge to Piarere.
She said these developments reflect the wider economic story – one of resilience through Covid-era challenges and cautious optimism as inflation eases and growth forecasts improve.
The economy grew strongly from October through March, faster than many other countries, but slowed in the second quarter after US President Donald Trump’s tariff announcements created uncertainty.
Reserve Bank forecasts now point to lower inflation, accelerating growth, and stable interest rates – “the fundamentals you need in place for growth.”
Willis addressed the loss of several prominent women in recent local body elections – including the mayors of Waipā, Waikato, and Matamata-Piako – and urged more women to step forward.
“I really want to see women succeeding in public life… it’s tough, but it is the most rewarding thing I’ve ever done,” she said.
Business Lunch with Nicola Willis, at centre, from left the Waikato Business Chamber team of Rebecca Wylie, Rebecca Aston, Jenny Macgregor and CEO Don Good. Photo: Mary Anne Gill
On a lighter note, Willis referenced her bright pink trouser suit, saying one advantage of being a woman in politics was “getting to wear colour.”
“Because if you’re a man putting on a suit today, you’re probably choosing between navy and charcoal. I’ve got the whole rainbow and so today was a pink day.
“I almost have a uniform, it’s either a dress or a suit, a bright colour and put on some lippie and hope for the best.”
Willis said there were strong informal networks of support available to women across all political parties, stressing the importance of strong female leadership in Parliament and local government.
On banking, Willis rejected calls for legislation forcing banks to pass on interest rate cuts, saying commercial independence was vital. Instead, she emphasised the need for greater competition and easier switching between banks.
“Banks should be fighting for your business,” she said, encouraging customers to shop around for better deals.
The Finance and Expenditure Select Committee recently recommended improved comparison and switching services, which banks have agreed to implement.
Hamilton East MP Ryan Hamilton, who is on the Finance and Expenditure Select Committee interviewed his “boss” Nicola Willis at the fireside chat. Photo: Mary Anne Gill
Willis confirmed proposals to scrap regional councils in favour of streamlined governance arguing that fewer layers would reduce duplication, cut costs, and make local government more effective.
“Ultimately we’ve got to make it simpler to govern our communities,” she said.
“Many people don’t even know who their regional councillors are and yet they are responsible for big decisions,” she said.
Under the plan, local mayors would be empowered to design structures that best suit their regions.
Overhauling the Resource Management Act would reduce by 40 per cent the number of projects requiring consent.
“We’re really getting into what slows things down so that we can speed up development and growth,” she said.
Business Lunch with Nicola Willis. Photo: Mary Anne Gill
Business Lunch with Nicola Willis. Photo: Mary Anne Gill
