Swain Paul: Estimates Debate — In Committee 
Swain Paul: Estimates Debate — In Committee 
[Volume:648;Page:17502] 
Hon PAUL SWAIN (Labour—Rimutaka) 
: 
 Before I fulsomely praise the Government for its incredibly good work around the economic development agenda I say that I think it is a bit disingenuous for that member Dr Richard Worth to criticise the Labour-led Government. He said there would be—and we were waiting for—five key policy planks; we got one and we started to get a bit of a nibble at the second one. The first one was an ongoing programme of tax cuts. So I ask the member: what is the National Government’s tax cut programme? 
Dr Richard Worth 
: I raise a point of order Mr Chairperson. I seek leave to respond to the very direct question that the member has thrown down. 
The CHAIRPERSON (H V Ross Robertson) 
: No no no. It is a debating issue; the member is trifling with the Committee. I invite Paul Swain to recommence his call. 
Hon PAUL SWAIN 
: Very good. Thank you Mr Chairperson. I did not raise the issue of tax cuts; that member did. We have been told through the media that the National Party has completed its tax cut policy programme. It is ready to go it is locked and loaded and it will be released National says in the election campaign. I ask why not now? This was policy plank No. 1. We know we will not get any further with that because it is all smoke and mirrors and National will never tell us. That was policy plank No. 1. 
The second policy was more discipline around Government spending. What do members think that is code for? 
Hon Darren Hughes 
: Cut cut cut! 
Hon PAUL SWAIN 
: That is exactly right. I want to ask the member what this actually means. Does it mean cuts? What are these Government spending issues that will have to show more discipline? Which ones will have to show more discipline? See it is all bumper sticker slogans. It is all sizzle and no sausage. There is nothing to it and National members think they can slip and slide their way to the election. It is not working because the clamour is already growing. 
Then the member says that there has been a problem with consumer confidence. The member is absolutely right. It is led by two things: a huge increase in petrol prices brought about by demand and speculation and food prices. So I ask the National Party what they will do about the international petrol price. 
Dr Richard Worth 
: Does the member want a response to that? 
Hon PAUL SWAIN 
: Well I was waiting to hear it from him before. The member had 5 minutes and he did not mention it. All he had to say was what the National Government will do to influence the international petrol price. I can see the petrol producers shaking in their boots as they listen to Richard Worth about to launch a campaign to drive down petrol prices! 
He then said that there was a problem with interest rates. It would be interesting to know what the National Party would do about interest rates. I would be interested to know what the National Party would do about the subprime mortgage problem in the United States. This will be waited for with bated breath all around the world—Richard Worth and the National Party will pronounce on what to do about the subprime mortgage problem in the United States! It will come soon after their pronouncements on what to do about oil problems around the world. Well we can hardly wait to hear these things. 
Then of course he went on about the Securities Commission and about some of the failed finance companies in New Zealand. He says the Government’s response has been to regulate. Well that is actually what a lot of people want—they want financial advisers to be regulated. I presume the member will do so. But I did not hear any of the five planks—he never got to what he would do about that. What would he do? What would he do about the problems that were inherited a long time ago—mezzanine lending; lending long and borrowing short? All those problems have been around with financial advisers who were not qualified and many of whom were crooks. The member now has the cheek to say “Oh well. This problem should have been sorted out by the Labour-led Government.” It is absolutely ridiculous. 
Of course what we wanted to hear was just one little bit of policy. That is all. All he had to do was say that this crisis of confidence in the finance sector is a problem and this is what National will do—a b and c. That would have been good and then we could have had a proper debate around economic development and some of the very good things that the Labour-led Government has done. That member sat on the same select committee when we heard the Ministry of Economic Development and New Zealand Trade and Enterprise talking about some of those things and talking about the work they had done in the free-trade agreement with China which I presume the member agrees with. What about the expos in Shanghai putting our products and services at the forefront of that hugely growing economy? What about the Beachheads programme? I presume the member supports the Beachheads programme. What about the Better by Design programme? That is to mention just a few. 
So instead of the member coming in and offering some praise for the work that is being done internationally he whinges and whines grizzles and groans—like National members normally do—and tries to come up with a few ideas and policy things yet we never hear one skerrick of detail. 
Vote agreed to.