Gordon Campbell | Parliament TV | Parliament Today | Video | Questions Of the Day | Search

 


PQ 6. Finance, Minister—Statements

6. Finance, Minister—Statements

[Sitting date: 31 July 2014. Volume:700;Page:2. Text is subject to correction.]


6. Hon DAVID PARKER (Deputy Leader—Labour) to the Minister of Finance : Does he stand by all his answers to Oral Question No 6 on 30 July 2014?

Hon BILL ENGLISH (Minister of Finance): Yes, part icularly that part of my statement where I said the member was wrong.

Hon David Parker : Why in question time yesterday did he deny that exports have fallen to 29 percent of GDP since he took office?

Hon BILL ENGLISH : Actually, I did not deny it. What I said was I could not tell the member the number. I remember that because he laughed.

Hon David Parker : I seek leave to table the transcript of yesterday’s Hansard, where the Minister denied—

Mr SPEAKER : Order! The transcripts are available to all members.

Hon David Parker : What remedy, then, do I have? I authenticated this question when it was submitted to the Clerk, and the Deputy Prime Minister did, on the advice of Mr Joyce, deny that question.

Mr SPEAKER : The remedy available now, if the member thinks he has been misrepresented by the Minister, is to apply to me under Standing Order 355.

Hon David Parker : Is the reason he chose to misrepresent export figures in question time yesterday because the drop in exports from 33 percent to 29 percent of GDP shows he is failing in his promise to lift exports to 40 percent of GDP?

Hon BILL ENGLISH : No. I could have a discussion with the member about the way the economy is progressing but, for instance, one factor in GDP, which the member often mentions, is the rebuild after the Christchurch earthquakes. It is sucking in an enormous amount of resources that cannot be available for exporting, so it is not surprising if, in this phase, GDP is not being driven entirely by exports. But I would repeat what I said yesterday. Our exporters have done incredibly well in the face of a high exchange rate. They have become more innovative, more resilient, and they are in great shape to do well under a re-elected National Government.

Hon David Parker : How many jobs does he expect will be lost as a consequence of the significant drop in export prices?

Hon BILL ENGLISH : I do not think there would be any credible estimates of that, but the drop in export prices is not unexpected. When we had a record high dairy price—the highest ever—it was always going to come down. I do not know why the member is so surprised about that. Does he not understand how the world works?

Hon David Parker : Is he now aware that in his Budget his own department forecast that over the next 2 years exports will drop in dollar terms, and as a percentage of GDP to 26 percent of GDP, less than the 33 percent of GDP it was when he took office, and in the opposite direction of his 40 percent target?

Hon BILL ENGLISH : I am aware of the content of the Treasury forecasts, and as with its other export-orientated forecast, the current account deficit, it has been consistently wrong for the last 4 years. I will not be at all surprised if our export sector shows that it is more resilient than Treasury expects, more profitable and more successful. Certainly, that has been our view, and so far Treasury has been not quite on its game and our exporters have been ahead of the game.

© Scoop Media

 
 
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

 

PARLIAMENT TODAY:

  • Week in Parliament 22-05-15
  • Saturday Sitting
  • House Rises At Midnight
  • Telco Levy Bill Passes
  • Telco Levy Bill Completes First Reading
  • Social Housing Bill Passes Under Urgency

  • TPPA: University Of Auckland Warns Of Negative TPP Impact

    The University of Auckland May 20, 2015 University of Auckland Warns of Negative TPP Impact With the Trans Pacific Partnership (TPP) negotiation drawing to a close, the University of Auckland has expressed serious concerns about its potential implications. ... More>>

    NZ Flag: Flag Referendum Gets Hit Hard In New Poll

    The latest Campbell Live text poll confirms it is time for the Prime Minister to listen to the public and shelve his flag referendum, says the New Zealand First Leader Rt Hon Winston Peters. More>>

    Gordon Campbell: The Government’s Belated Moves On Property Speculation

    Is it a property tax on capital gains or a capital gains tax on property? The Jesuitical distinctions in the government’s spin about its latest moves on property speculators are all about whether the government can claim that it jumped, or confess that it ... More>>

    Grant Robertson:
    Key Can’t Just Be Prime Minister For Parnell

    John Key must show New Zealanders in next week’s Budget that he is more than the Prime Minister for Parnell, and is also the Prime Minister for Pine Hill, Putararu and Palmerston North, Labour’s Finance spokesperson Grant Robertson says. In a ... More>>

    Labour Party: More Regional Jobs Go In Corrections Reshape

    News that 194 Corrections staff are to lose their jobs will have ramifications not only for them and their families but for the wider community, Labour’s Corrections spokesperson Kelvin Davis says. Prison units at Waikeria, Tongariro and Rimutaka ... More>>

    ALSO:

  • NZ First - Prison Job Losses to Send Money Offshore
  • TPPA: ‘Team Obama’ Regroups On Fast Track, Still Not Deliverable

    ‘After yesterday’s stinging and unexpected defeat for the Obama administration’s attempt to advance Fast Track legislation in the US Senate, Senate leaders have worked up a compromise they think will get them past this blockage’, according to Auckland ... More>>

    NZ Government: 5,500 More Doctors And Nurses In Our Hospitals

    Health Minister Jonathan Coleman says a record number of doctors and nurses are working in District Health Boards across the country. More>>

    Controller and Auditor General: Katherine Rich Conflict of Interest Decision

    We are writing to you about a matter that has been raised with us by members of the public. More>>

    ALSO:


    Budget 2015: Andrew Little On The 2015 Budget

    Speaking to the Chamber of Commerce, the Labour opposition leader attacked the government’s approach to economic issues facing New Zealand. He said they have been “more than reckless in their complacency” and “the next week’s budget will do nothing ... More>>

    Defence Force: NZDF Building Partner Capacity Mission Personnel In Iraq

    NZDF Building Partner Capacity Mission Personnel in Iraq The New Zealand Defence Force Building Partner Capacity training mission contingent is in place at Taji Military Complex in Iraq. The Chief of Defence Force Lieutenant General Tim Keating says the ... More>>

    PM Press Conference: ACC Levy Cuts Announced

    In a press conference this afternoon in Wellington, ACC Minister Nikki Kaye proposed $500 million worth of ACC levy cuts. More>>

    Quakes: New Process For Red Zone Crown Offers

    Canterbury Earthquake Recovery Minister Gerry Brownlee has announced a process to give everyone a say on the Crown offers to owners of vacant, commercial/industrial and uninsured properties in the Residential Red Zone. More>>

    ALSO:

    Gordon Campbell: On The Battle Obama Is Waging Over The TPP

    For the past two and a half years, this column has been arguing that the fate of the Trans Pacific Partnership (TPP) deal will hinge on whether US President Barack Obama can win Trade Promotion Authority (TPA) from Congress... Last week, the White House finally, finally unveiled a draft TPA Bill. More>>

    ALSO:


    Gordon Campbell: On lessons for Labour from the UK election
    If the polls were right – and the pollsters kept telling us how accurate they’d been in 2010, and even Nate Silver was getting the same results – there seemed no way that the British Labour Party could lose last Thursday’s British election. With Labour predicted to win around 270 seats and the Scottish National Party batting around 55-60 seats, Labour seemed to be home free. But…as we now know, things didn’t turn out that way. Labour ended up with 232 seats and the Conservatives swept back to power with an outright majority, after winning only a little more than a third ( 36.9%) of the votes cast.MORE >>
    Also.

  • NZ PM John Key - PM congratulates David Cameron after UK election
  • The Nation IV Transcript - Hack Attack author Nick Davies
  • Get More From Scoop

     

    LATEST HEADLINES

     
     
     
     
     
    More RSS  RSS
     
     
     
     
    Parliament
    Search Scoop  
     
     
    Powered by Vodafone
    NZ independent news