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

Gordon Campbell: On Bill English, Abroad

Looks like you need to get the blurb yourself. Probably best to do that irrespective, actually.If David Cameron was the closest thing John Key had to a political mentor, their successors also share a whole lot in common.

Theresa May and Bill English were both propelled into the top jobs as the result of unexpected resignations, and without much in the way of credible competition from their colleagues. Neither have yet been given a mandate to govern by the electorate although – in both countries – the Labour opposition is in less than robust shape. More>>

 

Pike River: Labour Bill To Override Safety Act For Mine Entry

“Bill English has been hiding behind the legal excuse that any attempt to re-enter the mine to recover the bodies might place the mine’s owner, Solid Energy Limited, and its directors in breach of the Health and Safety at Work Act 2015." More>>

ALSO:

Gordon Campbell: On Populism And Labour 2017

For many people on the centre-left, populism is a dirty word, and a shorthand for the politics of bigotry. In this country, it has tended to be equated with the angry legions of New Zealand First. Who knew they were not just a reactionary spasm, but the wave of the future? More>>

Oxfam: 30% Of NZ Owns Less Wealth Than Our Two Richest Men

The research also reveals that the richest one per cent have 20 per cent of the wealth in New Zealand, while 90 per cent of the population owns less than half of the nation’s wealth. The research forms part of a global report released to coincide with this week’s annual meeting of political and business leaders at the World Economic Forum in Davos, Switzerland. More>>

ALSO:

Hospitals: Resident Doctors Set To Strike Again

Despite discussions between the DHBs and NZRDA over safer hours for resident doctors progressing during the last week, the strike planned for next week appears set to proceed. More>>

ALSO:

Not So Super Fund: More Burning Ethical Questions For Steven Joyce

Greens: Radio New Zealand reported this morning that the New Zealand Superfund has $77 million invested in 47 coal companies that the Norwegian Government’s Pension Fund – the largest sovereign fund in the world – has blacklisted. More>>

Activism: Greenpeace Intercepts World’s Biggest Seismic Oil Ship

Greenpeace crew have made contact with the world’s biggest seismic oil ship after travelling 50 nautical miles on two rigid-hulled inflatables off the coast of Wairarapa... Greenpeace radioed the master of the Amazon Warrior to deliver an open letter of protest signed by over 60,000 New Zealanders. More>>

ALSO:

Gordon Campbell: Why Tax Cuts In 2017 Would Be A (Proven) Bad Idea

Ever since the world fell prey to the mullahs of the free market in the 1980s, no amount of real world evidence has managed dispel one key tenet of their economic faith. Namely, the idea that if you cut income taxes and taxes on small business, a wave of individual enterprise and entrepreneurial energy will thus be unleashed, profits will rise and – hey bingo! – the tax cuts will soon be paying for themselves ... More>>

Get More From Scoop

 

LATEST HEADLINES

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