New Zealand First is ramping up its campaigning with an election fast approaching. They announced that if they have any say in the matter, if they form any part of a government, half of all mining royalties will go to the region from whence it came rather than head straight into the treasury coffers in Wellington.

New Zealand First says it will build up wealth and infrastructure in the regions allowing for future development rather than having the money spent across wider national projects, so flood mitigation in Westport rather than four lane highways north of Auckland.

I really like that idea. The funds would be directed to things like water services, flood protection, energy generation, tourism and transport to enable housing development in areas of high minerals industry growth and critical infrastructure projects, according to the party statement. As I say, I like the idea. What's not to like?

The West Coast Regional Council has the smallest operating budget and fewest staff of any regional authority, yet it's facing huge costs for specialised protection works such as those in the Karamea and Punakaiki ratings district. With a population of just under 35,000 and only 20 to 25,000 of those being ratepayers, there's not a lot of money coming in to do essential work and yet they're generating a huge amount of income. Why should they not share in the proceeds?

We don't get a huge amount from mining royalties compared to what it generates, 250 million last year, but it's all relative. Imagine tens of million into the West Coast, it would make the world of difference to the people and the land. It is really only fair when you think about it that the region that supplies the raw materials and the workers gets a bit more of the proceeds as Jamie Cleine, former mayor of Buller and now a New Zealand First candidate, told Ryan Bridge this morning.

One of the issues the West Coast has, small population base, huge geographic area and and like most of New Zealand, massive infrastructure needs and ability to pay, affordability, all of those things are affecting our region. So it's high time that the minerals royalty scheme gets a bit of a shake up and to hear that there's appetite, New Zealand First are certainly campaigning on 50% of those royalties coming back to the regions where the minerals are coming from is music to my ears. Alongside that of course is, you know, we've got an industry that wants to ramp up and a lot of that requires civil infrastructure to be to be put in ahead of time to facilitate building and accommodating all of the, you know, the wave of workforce that are coming. And so an ability to do that and make sense to focus that on the areas where the growth's going to occur in the mineral sector.

So, yeah, makes sense, doesn't it? However, and there's always a however, generally with most good ideas there's a however. You're only going to get, this is what Ryan referenced on Early Edition this morning as well, we're only going to get royalties if we're mining, if we're digging the stuff out of the ground and selling it overseas.

Last year mining contributed 2.83 billion to New Zealand's GDP. So, you know, it's worth exploring, it's worth investigating. We think that. But we'll only get investment in mining if we get a bipartisan agreement from our main parties. It is absolutely pointless for any mining company to invest huge amounts of money in this country only to be told to get out and stay out by an incoming government. They're not going to invest. They're not going to take that risk until they know that they can be here for enough time to make a profit. It's got to work for them, it's got to work for us.

So this is all very well and good, New Zealand First saying, Yes, let's put half of the royalties back into the regions from whence they came." Couldn't agree more. It will do wonders for all of New Zealand. Quite agree. It's only fair and right. Absolutely. But we have to have the confidence, we have to have the guarantee before mining companies will invest here, otherwise 50% of nothing is nothing. Love to get your thoughts on this. I mean, it is hard to disagree with the concept, isn't it, that 50% of the royalties go back to the regions, to Hauraki, to the West Coast. But why would you invest here when there is uncertainty?

The thing investors love more than anything is certainty in an uncertain world. And if they think that a Labour Greens Te Pāti Māori coalition is going to send them packing, they're not going to commit millions and millions and millions of dollars. So what chance do you think we have of getting a bipartisan agreement? This country needs money. We need to sell what we've got so that we can invest in the schools and the hospitals and the public health system and and the like.

Yes, we can make cuts and we should be making cuts in some areas, means testing the super and the like, but they're unpopular to voters. We also need to grow the economy and what we've got are minerals and resources. But there's a strong and vocal lobby group that doesn't want to sell those off. They want to leave the ground pristine as and as it is, which is fine, but then you have to accept that we can't have all the luxuries that come with living in a first world.

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