Is KiwiRail's plans for a new green fleet of ferries absolutely sunk?
The government's refusing to kick any more money into replacing the aging Interislander ferry fleet following a massive cost blow out.
The ferry operator had asked for an extra $1.5 billion. But the government says the cost of the project including harbourside infrastructure has quadrupled to $3 billion since 2018 and there's no guarantees it wont go higher.
Now KiwiRail's board has told the government it will have to wind the project down and start from scratch.
Finance Minister Nicola Willis speaks to Lisa Owen.