Bishop Chris: Oral Questions — Questions to Ministers Questions to MembersText is incorporated into the Bound VolumeBishop Chris: Oral Questions — Questions to Ministers Questions to Members[Sitting date: 06 May 2015. Volume:705;Page:3215. Text is incorporated into the Bound Volume.]1.CHRIS BISHOP (National)to the Minister of Finance: What reports has he received on the outlook for the New Zealand economy?Hon BILL ENGLISH (Minister of Finance):More positive reports on the outlook for the New Zealand economy. Treasury released its Monthly Economic Indicators report for April. It says that economic growth looks set to continue over the first half of 2015 supported by business and consumer confidence and elevated levels of investment and hiring intentions despite recent easing of those measures. The cost of living has fallen in each of the last two quarters for the first time since 1999 and inflation expectations and the expectation of businesses to increase their prices remain subdued. With no sign of emerging inflation or interest rate pressure which might normally be expected when an economy is growing at 3 percent the economy is exhibiting capacity for further sustainable growth.Chris Bishop: What are some of the current challenges and opportunities for New Zealand businesses and households?Hon BILL ENGLISH: One of the challenges is of course the reality of lower commodity prices. This includes the fall in dairy prices which has continued in April. Dairy prices are now back at levels last seen in December 2014. However it is worth putting this in an international context. Between mid-2011 and December 2014 New Zealand terms of trade have actually increased by 3 percent. In the same period the Australian terms of trade fell by 23 percent due to a large fall in the iron ore price. So although dairy prices are down overall our terms of trade are roughly flat and that compares favourably with Australia where the terms of trade have fallen by 23 percent.Grant Robertson: In light of those answers how does the Minister reconcile his trumpeted 3 percent growth figure with the fact that in Northland unemployment is 9.9 percent in Manawatū and Wanganui it is over 7 percent and in Gisborne and Hawke’s Bay it is over 7 percent and that wage rises over the last period have been the lowest that they have been in 2 years—where is the benefit in growth in the economy for working New Zealanders?Hon BILL ENGLISH: At any given time the growth rate is an average across the country. The member I presume is not suggesting that someone is making up the growth numbers. They come from Statistics New Zealand which has statutory independence. If the member wants to use anecdotes unemployment in the South Island is under 4 percent. I have to say coming from the South Island we would welcome people from Wanganui Gisborne and Auckland turning up to fill the empty jobs in the South Island. One of the surprising things about this cycle is how sticky unemployment appears to be in some areas where clearly there are not as many jobs as there are in the South Island.Chris Bishop: What reports has he received showing how growth in the economy is helping to deliver more jobs and higher wages for New Zealanders?Hon BILL ENGLISH: Labour market statistics released today show that 16000 more people were employed in the March quarter meaning that in the year to March 74000 jobs were added to the economy. Labour force participation is now at an all-time high of 69.6 percent and New Zealand has the fourth-highest employment rate in the OECD—that is the fourth-highest proportion of the working-age population actually in work. Average wages increased by 2 percent over the same period well ahead of inflation of 0.1 percent.Chris Bishop: What were the main drivers of employment growth over the last year?Hon BILL ENGLISH: Employment growth has been reasonably broad-based. Construction added 23000 additional jobs. Retail accommodation and food services added 14000 jobs and we know that Labour’s “manufacturing crisis” continues because the manufacturing sector added 16000 jobs in the last year. Members in the House may recall that in 2011 the Budget forecast 170000 additional jobs by about now and the economy is over 20000 ahead of that forecast.Dr David Clark: I seek leave to table a document prepared by the Parliamentary Library dated yesterday or today which—Mr SPEAKER: Order!Dr David Clark: Yesterday I am pretty sure. [Interruption]Mr SPEAKER: Order! The member is making a point of order. I wish to hear it. So it is dated today we have established.Dr David Clark: Either yesterday or today. It came into my in-box overnight.Mr SPEAKER: All right. Just quickly describe the document and I will decide whether to put the leave.Dr David Clark: The document is clear that a third of the economic growth is attributable to the—Mr SPEAKER: Order! I do not need any more. The point of tabling that document is to make a political point. It is not to inform members.Dr David Clark: I raise a point of order Mr Speaker.Mr SPEAKER: Is the member attempting to relitigate a decision I have just made? Because that will require the member to be leaving the Chamber immediately.Dr David Clark: It is a point of clarification.Mr SPEAKER: I am not interested in a point of clarification. If it is a fresh point of—[Interruption] Order! The level of complaints I had because of the noise coming from this sector yesterday means that I intend to do something about it. I have ruled that I am not interested in putting that piece of information to the House. It does not require a point of clarification. My mind is absolutely clear. If the member has a fresh point of order I will hear it but I am not going to have arguments continuing on that particular point of order. If the member wants to leave the Chamber he is certainly welcome to do so.Hon Annette King: I raise a point of order Mr Speaker. [Interruption]Mr SPEAKER: Order! This is a point of order. It had better be a fresh point of order.Hon Annette King: Do you intend to rule on the length of answers we are getting from the Minister—Mr SPEAKER: Order! The member will also resume her seat. I will judge as I have said on many occasions the length of answers. But when there are constant interjections coming from my left-hand side to the Minister who is answering the question clearly that gives the opportunity for the Minister to then be responding to those interjections.