Adams Amy: Taxation (Budget Measures) Bill — First Reading Second Reading In Committee 
Adams Amy: Taxation (Budget Measures) Bill — First Reading Second Reading In Committee 
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AMY ADAMS (National—Selwyn) 
: 
 I am delighted to have the chance to stand here on Budget day and speak to the Taxation (Budget Measures) Bill. Today Bill English delivered a Budget that will move our economy from the sluggish underperforming unbalanced debt-driven and consumption-focused economy that the previous Government encouraged and presided over. It sat by with its head in the sand for 9 years while our productive sector went down the toilet. This Budget will move us from that position where we were consistently living beyond our means and put us back on the track to becoming an economy focused on growth. That is what this Budget is about. It is about having an economy focused on growth. 
Why is growth so important? Well for the benefit of members in the House who do not seem to grasp it I say that growth is important because through growth we will see jobs. Growth will create real jobs in this country. Members should not tell me that there is nothing in this Budget about jobs. Growth is what will gives us jobs and this whole Budget is about delivering growth to the New Zealand economy. It will give us not only jobs—and not just jobs in the public sector but real jobs in the productive economy—but better incomes and a higher standard of living. That is what we in the National-led Government want for this country and that is what this Budget is moving us towards achieving. 
Let us look at some of the projections that we have heard today. They are stunning—they are stunning. We have 3 percent projected growth every year for the next 4 years. That is a staggering turn-round for this economy and it is a mark of the success of John Key and this National-led Government. Growth of 3 percent every year for the next 4 years will mean 170000 new jobs—170000 new jobs. That is what Treasury is telling us. That is Treasury’s conservative estimate of what that sort of growth means to this economy. Not only that it also means an average of $7000 a year of extra income for New Zealand families. That is what I came into Parliament to help deliver and I am incredibly proud to be part of a Government that has delivered a Budget like the one we have seen today which will give that sort of growth that number of new jobs and that level of lift in income to all New Zealand families. 
That growth comes about from a couple of very important aspects of this Budget. It comes about through controlling our national debt. Debt is a massive issue as Greece and the UK know. It is their No. 1 issue. Let us just remember that without the changes that this Government made in last year’s Budget and in this Budget by 2020 we would have been looking at net Crown debt of 60 percent of GDP. Now it is projected at that stage to be 20 percent. From 60 percent under Labour’s policies to 20 percent under National’s policies—that is the sort of control that will make a difference in this country. 
That growth comes from supporting business. All we have heard today particularly from the Green Party is how those members would shut down and kill the productive sector. They do not like farming they do not like the productive sector; all they want to do is to shut it down. We are about supporting our industry and supporting growth because that is where jobs will come from. Importantly in respect of this bill growth is about getting the incentives right. It is about ensuring that through our tax system we say to New Zealanders that we will get behind them if they are going out there to work hard and get ahead. We will not be getting behind the consumptive debt-driven economy; we will support Kiwis who are trying to work hard and get ahead. 
Labour spent most of the afternoon trying to tell us that this Budget is about favouring the rich—talk about last resort of the desperate! Let us look at what is really happening. Two-thirds of all the tax cuts delivered in today’s Budget will go to reducing the bottom two income tax brackets. Two-thirds of everything will go to the bottom two income tax brackets. After the passage of this bill 73 percent of New Zealanders will face a top tax rate of no more than 17.5 percent. Nearly three-quarters of all New Zealanders will face a tax rate of 17.5 percent or less. Labour is trying to tell us that it is about a few rich pricks at the top; well it is not. This is about fairness. It is about equity. The only reason that Labour is so angry is that this Budget has left it with nowhere to go. National is delivering to all New Zealanders. We are delivering to low and middle income New Zealanders and Labour knows it. Labour knows it the public knows it and the commentators know it. 
Let us took at what the commentators say. Bernard Hickey today reported that “Labour cannot accuse the Government of delivering a budget for the rich because rich property investors and foreign investors will be hit most by this Budget.” He is right. Tracy Watkins commented: “If the holy grail of budgets is that they under promise and over deliver Finance Minister Bill English can score Budget 2010 as a win. … everyone will be better off.” I encourage anyone listening to this debate not to buy into the histrionics and crocodile tears from across the House because those who know economics know that this Budget today is delivering a fairer more equitable tax system and a stronger growing economy for all New Zealanders and I am very proud to commend it.