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# Face of the Day
- URL: https://goodoil.news/face-of-the-day-1483/
- Published: 2026-05-18T18:30:43.000Z
- Updated: 2026-05-18T18:30:42.000Z
- Description: Christopher Luxon has ruled out agreeing to the idea – even if Peters brings it to coalition talks as a non-negotiable.
- Author: Good Oil Staff
- Tags: Face of the Day

> Prime Minister Christopher Luxon has ruled out signing up to NZ First’s proposal to buy back BNZ.  
>  
> [Winston Peters announced on Sunday](https://www.stuff.co.nz/nz-news/360980028/nz-first-make-kiwisaver-compulsory-buy-bnz-back-peters-takes-swipes-neo-liberal-twits?ref=goodoil.news) that New Zealand would buy BNZ back from its Australian owners if NZ First were voted into government in November’s election.  
>  
> He said the bank would be merged with Kiwibank to form the “National Bank of New Zealand”.  
>  
> The plan [quickly came up against strong criticism](https://www.stuff.co.nz/politics/360980167/have-your-say-should-new-zealand-buy-back-bnz?ref=goodoil.news), with Finance Minister Nicola Willis labelling the idea “extremely reckless” and the Taxpayer’s Union chair Ruth Richardson calling it “bankruptcy of thinking”.  
>  
> Now, Christopher Luxon has ruled out agreeing to the idea – even if Peters brings it to coalition talks as a non-negotiable.  
>  
> Stuff

[REad More](https://www.stuff.co.nz/politics/360980489/pm-rules-out-buying-back-bnz?ref=goodoil.news)