challenge, Mr Speaker Order! The member's time has expired.
The Hon David Clark. Mr Speaker, well, I think the interesting
thing about that, that was a lecture
on clarity and transparency by
again, I think Mr Joyce has revealed in the last 48 hours that he's not
so hot on the numbers, Mr
Speaker. That speech, I can assure you,
was watched very, very closely by the
other speakers from National in
this debate, Judith Collins, and Amy
Adams, the other people
auditions for his job today. That's what's
going on in this
House today. Everyone knows it. They're the three
contender for the Finance
spokesman's job. Today, while Mr
Joyce was aiming for comedy,
unfortunately, today,
unfortunately, today, he only achieved
The Budget Policy Statement was released on 14 December 2017 and
it confirmed the Government's Budget
priorities and fiscal strategy for
Budget 2018, which will occur on
17 May, Mr Speaker.
May, Mr Speaker. The new Government has signalled an
economy that is fair
and efficient, we want a shared economy,
one efficient for
efficient for all New Zealanders. Too many people have missed out
on the recent benefits of growth. As
the previous Government
has failed to make the necessary investments
in public services and infrastructure
to keep living standards high
as Kiwis expect, we are signalling
a different direction in that respect.
We will begin to address the social
and infrastructure deficits that
have built up over nine years.
The
The Budget Policy Statement shows that Budget 2018 will make progress
towards remedying these
deficits through a clearly laid out set of
priorities. These
through a clearly laid out set of
quality public services for New Zealanders and improving access to
core services, taking action
on child poverty and homelessness,
supporting families to get
ahead and sharing the well generated by our
economy with a wide range of
New Zealanders, sustainable
Zealanders, sustainable economic development, and supporting
the regions, and managing our natural
resources and taking action against
environmental challenges
environmental challenges such as climate change, Mr
Speaker. The speech from the throne, which
inseparate prated the Coalition and
and confidence in supply agreements, indicates the policies required to
deliver these outlines. The
BPS will outline how Budget 2018 will secure
the funding to allow for
such a robust
robust and ambitious programme. This Government takes seriously
the need to invest in social
and infrastructure projects to
clear that deficit left by the
previous Government, Mr Speaker. But we've
also committed to governing
responsibly, fiscally responsibly,
within a set of
Budget responsibility rules.
responsibility rules. We will, within those rules,
Mr Speaker, will deliver a sustainable
operating surplus across
an economic cycle. We will reduce the level of
net core Crown debt
cycle. We will reduce the level of
within five years of taking office, we will if investments to address
sustainle challenges facing New Zealand. The Government will
maintain its expenditure is within
the recent historical range
of spending to GDP ratio. And we will
ensure a taxation system that
is fair, balanced, and promotes the
productivity of the economy. The Half Year Economics
and Fiscal Update was
Update was also released on 14 December, 2017, and it showed we are
on track to meet
the Budget responsibility rules.
on track to meet the Budget responsibility rules. The high
on track to meet the Budget
the HYEFU showed the economy is growing at a solid rate with growth
expected
expected to peak
agencies have sought fit to comment on the Government's
package of investment in social
and infrastructure programmes,
infrastructure programmes, the signal direction is one which gaves
rating agencies confidence that this
Government is going to see a growing
economy, Mr Speaker,
strengthening further over time.
economy, Mr Speaker, strengthening further over time. Unemployment
is expected to fall to
further over time. Unemployment is
There is a lot of good news here I will watch really,
really closely, just how in any way
the Opposition can talk the economy down from here
when the news is so good. Wages
are forecast to grow at just
when the news is so good. Wages are
average over the next five years reaching
average over the next five years
will support this. OBEGAL surpluses are set to rise to 8. 8
billion. Debt is set to decline to
of office, Mr Speaker. This is a strong Coalition Government
that is delivering a strong programme
for the economy, and lowering debt at
the same time. Slightly slower than
the same time. Slightly slower than forecast in the
the same time. Slightly slower than
is important that surpluses are maintained to allow us to meet the
need for new
capital investments.
that. But nine years of
Government will see the need for increasing investment in housing,
hospitals, schools and roads, Mr
Speaker. That is something that
Government is committed to. We've
also resumed contributions
to the New Zealand Super Fund
so their retirements can be sustainable. This
is a
is a responsible Government investing for
investing for future generations. More good news, watch them trying to
talk down and audition for
Finance spokesman at the same time.
They've got their work cut out for them,
those two women opposite. Total
investment is expected to total
42
the previous Government's plans. By reversing the previous Government's
tax cuts for the wealthy
we can afford to make major investments
in wealth,
wealth, education and infrastructure while paying down debt, Ms Adams.
The Budget Policy Statement outlines the operating
the operating and capital allowances for the next five years. These
allowances provide the
fiscal room to make the investments
that are needed after that
neglect, Mr Speaker. It will be made. There is
also extra free allowances
beyond
because allowances overall are larger than
larger than the previous Government's. We
Government's. We make no apology for that because we're going to
address those deficits as I've outlined. I
want to speak breachly about the
..because there's not much time left, not because there's
not a lot to say about it. This
Government has achieved much in its
first 100 days. Let's not forget that investment. in
The Treasury let slip to me
they thought it was the biggest
redistributed package since 1991 to
ensure families are well supported.
In 1991 redistribution
was happening in the opposite
direction. We're looking for a fair society. Mr
The Deputy PM has passed me a note, Mr Speaker, reminding me that
they're sitting across
there because misery loves
misery loves company and I think he's hit the nail on the
head, Mr Speaker.
he's hit the nail on the head, Mr Speaker. Tad unkind but
woefully accurate I have to say. This
Government is determined to invest
for the good of New Zealanders.
House prices rose uncontrollable and
New Zealand's population growth
inflated the figures. But
the headline growth came at a time of
rising homelessness, inequality,
housing prices, regional deprivation
and the opening of an
infrastructure deficit that will take years to fix.
Growth is one thing, Mr Speaker,
but shared growth is what we
aspire to. Mr Speaker, the
Budget Policy Statement delivered by
this Government on 14 December is
the starting point and our plan to
deliver sustainable, productive and
inclusive growth for all New
Zealanders, Mr Speaker.
inclusive growth for all New Zealanders, Mr Speaker. The Hon
Amy Adams. I am very pleased to
take a call on this Budget Policy
Statement, well, actually, a debate
on the report of the report of
Statement, well, actually, a debate on the report of the report of the
Finance and Expenditure Committee