Cunliffe David: Questions for Oral Answer — Questions to Ministers Questions to Members 
Cunliffe David: Questions for Oral Answer — Questions to Ministers Questions to Members 
[Volume:670;Page:16672] 
6. 
Hon DAVID CUNLIFFE (Labour—New Lynn) 
 to the  
Minister of Finance 
: Does he stand by his answer to question 7 yesterday suggesting that Australia is headed for a double-dip recession? 
Hon STEVEN JOYCE (Associate Minister of Finance) 
 on behalf of the  
Minister of Finance 
: Despite relatively strong growth in the first part of last year Australia’s growth slowed to just 0.2 percent in the September quarter. There are high levels of household debt and Australia’s consumer and housing markets are slowing down quite significantly. Of course what the Minister omitted to say yesterday was that Australia never had an initial recession unlike New Zealand which under the Labour Government went into a recession almost a year before the global financial crisis even hit. 
Hon David Cunliffe 
: In light of the Minister’s answer can he tell the House when did Australia first go into recession following the onset of the global financial crisis? 
Hon STEVEN JOYCE 
: I answered that in the previous answer to the question. However I point out that the reason that Australia did not have the first recession was that it did not have the Labour Government we had in New Zealand for 9 years and I suggest there is a strong correlation between the two. 
Hon David Cunliffe 
: l would normally do this at the end of the session but as it relates directly to the point made by the Minister I seek leave to table a statement on monetary policy by the Reserve Bank of Australia that was issued just days ago and shows forecasts of strong positive economic growth for the next 5 years. 
Mr SPEAKER 
: Leave is sought to table that document. Is there any objection? There is objection. 
Chris Tremain 
: What reports has the Minister seen on the reasons for New Zealand’s most recent recession in 2008? 
Hon STEVEN JOYCE 
: New Zealand went into a recession— 
Hon Darren Hughes 
: I raise a point of order Mr Speaker. This question set down by David Cunliffe is about an Australian double-dip recession and the supplementary question is about a recession in New Zealand. I cannot see the connection between the two. This is a very specific primary question. 
Mr SPEAKER 
: If the member had listened to the Minister’s answer he would have noticed that the Minister referred to what had happened in New Zealand at the same time which does open the question more widely including opening it for Opposition members. So the question is in order. 
Hon STEVEN JOYCE 
: New Zealand went into recession months before most other developed countries due to serious and damaging imbalances that built up in the economy under the previous Government. Among these were a massive blowout in Government spending rampant inflation which peaked at 5.1 percent at the end of 2008 a credit binge that will take years to unwind and decade-high interest rates—all of which strangled our export sector and all of which the Opposition does not want to know about. It appears Labour has learnt nothing from that recession as it still seems prepared to pump up spending and pump up debt. 
Hon David Cunliffe 
: I raise a point of order Mr Speaker. Not only is the question marginal but the Minister’s answer is turning into a speech. 
Mr SPEAKER 
: It is up to the Speaker to determine whether the Minister is taking too long and I say that the Minister had taken sufficient time indeed to answer the question. 
Hon David Cunliffe 
: Which aspect of the Australian Government’s comprehensive and well-targeted stimulus package contributed most to Australia’s avoiding going into recession unlike New Zealand under this National Government? 
Hon STEVEN JOYCE 
: A number of things prevented Australia from going into recession while New Zealand did. The first is that it did not have the massive blowout in public spending during the 2000s that we had in this country. Secondly Australia did not have higher marginal tax rates at the lower rates that we had in this country. Thirdly Australia ran an altogether much more business-friendly policy than was run over the period of the 2000s. Those are just three off the top of my head. 
Hon David Cunliffe 
: If Australia is headed for a double-dip recession can the Minister explain why 36000 New Zealanders emigrated there in the past year showing John Key’s promise to stop this brain drain to be yet another cruel hoax? 
Hon STEVEN JOYCE 
: That is pretty rich coming from somebody who wants to raise the top tax rates to over 50 percent. The reason people went to Australia in record numbers— 
Hon David Cunliffe 
: I raise a point of order Mr Speaker. There are so many things wrong with that answer that it will take a while— 
Mr SPEAKER 
: If the member does not want that kind of answer he should not include in his supplementary question language like “cruel hoax”. That just invites the Minister to have a fair bit of licence in how he answers it. I will allow the Minister to finish his answer. 
Hon STEVEN JOYCE 
: The key point I was making was that that was pretty rich coming from a party that wants to increase top marginal tax rates to encourage the flight of skilled New Zealanders to Australia just as it did through the 2000s creating record emigration to Australia from this country. 
Hon David Cunliffe 
: I seek leave to table Immigration New Zealand statistics that show that emigration to Australia is now— 
Mr SPEAKER 
: No no. The member will resume his seat. The member knows that statistical releases are available to all members and we do not seek leave to table that sort of document. 
Hon David Cunliffe 
: I raise a point of order Mr Speaker. I question your ruling Mr Speaker which of course you may be able to repeat. But this is a special document that has been compiled by our own research unit pulling together a number of difference sources of information to undoubtedly prove the point— 
Mr SPEAKER 
: I beg the honourable member’s pardon. Leave is sought to table a document prepared by the Labour Party research unit on immigration figures. Is there any objection to that? There is objection.