Time for a new flag?

Is it time for a new flag for New Zealand? For the benefit of international readers who may not know, we are in the midst of a debate about replacing the nation’s flag, to do away with the Union Jack in the corner, and apparently establish a new identity with no more confusion with Australia. (Our current flag is very similar to theirs). It is a debate that has raised a lot of discussion and people have a wide range of views. 
 

Do we really need a new flag? I don't know.......Whatever the outcome, my own personal view is that is seems an awful lot of money ($26 million) to fund the process, money which could surely have been better spent elsewhere?