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Further to reply 30351 (2026), in what currency is the shipbuilding contract denominated, and what hedging arrangements, if any, are in place to protect the taxpayer against the foreign exchange movements to which the reply states the $596 million contract total is subject?

Answered Question 32015 (2026)
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Asked by

Tangi Utikere

Member for Palmerston North · Labour Party

Question

  • Further to reply 30351 (2026), in what currency is the shipbuilding contract denominated, and what hedging arrangements, if any, are in place to protect the taxpayer against the foreign exchange movements to which the reply states the $596 million contract total is subject?

Answered by

Rt Hon Winston Peters

List MP · NZ First · Minister for Rail

Answer

USD. Hedging arrangements are in place for 66 percent of the remaining unpaid contract value. The balance is managed under the company’s foreign exchange management policy.