Seymour DavidDAVID SEYMOUR (Leader—ACT): Thank you very much Madam Speaker. Before I begin contributing to this debate on the Budget Policy Statement I wish to acknowledge as the member of Parliament for Epsom the passing of Sir Rob Fenwick a tremendous man that I was grateful to know a fabulous conservationist a fabulous entrepreneur philanthropist and New Zealander who will be sadly missed by our community and many others. Farewell Sir Rob.When it comes to this Budget Policy Statement it is only weeks old but aeons out of date. This report forecasts 2.4 percent economic growth for the year—two weeks ago that was slowing but believable. In the last week markets have dropped 15 percent and we're heading into bear territory. Nearly every bank is telling us we're in for a rough ride. ANZ has firms' own activity expectations at the lowest since 2009 the BNZ was first to forecast recession this year Westpac is forecasting a 28 percent drop in visitor arrivals—this correction has been coming a long time. We have had the longest expansionary cycle in the post-war era and we may be experiencing the greatest correction in that era too. And the anecdotes are scarier: I was talking to a guy who's a motor vehicle dealer a couple of days ago. He'd just had an order for six utes cancelled after they came off the boat—and why? Because they were supposed to be headed for the forestry industry and the forestry industry is at a standstill. Businesses up and down this country are moving to plan B because they see what's coming.The ACT Party—for two years—has said that we have a Government led by a Prime Minister who is the best marketer in world politics today but the worst deliverer. And what this sea change of the last couple of weeks means is that the day for gesture politics is over; the day for economic management and leadership has arrived. One only needs to look at the bullet points heading up this report on the Government's Budget Policy Statement and see what they are talking about: Just Transition … Future of Work … Māori and Pacific … Child Wellbeing … Physical and Mental Wellbeing"—all things that sounded good when times were good all things that are noble aims if you have a Government that knows how to pay for it but what's absent from this Government's economic strategy is a way to manage the economic downturn and pay for all the good things that they want.It's not just that the gesture politics of this Government are ineffective for the economy; they're damaging. So many of the gestures actually sideswipe people trying to do productive things which was a problem when we had relatively good economic conditions but is dire now that we face bad economic conditions. Banning oil and gas—the shock of that and the impact on the perception of New Zealand as a safe place to do business is unaffordable. The one-size-fits-all freshwater regulations imposed on the rural sector—which other speakers have rightly noticed is the one sector that can pull New Zealand through because people eat no matter what even if they don't holiday—is far too expensive and is forecast to reduce the number of jobs in dairy by 15 to 20 percent with good conditions. The zero carbon Act is a slap in the face for every single farmer in this country. The new tenancy laws mean that people are abandoning the rental market as landlords in droves pushing up rents and making things harder. Wasteful spending—the fees free the Provincial Growth Fund. These are nice to haves in good economic times that are unaffordable in bad. This year's minimum wage increase—ACT started the chorus. Economists from across the political spectrum—Shamubeel Eaqub Sharon Zollner the National Party—have all joined the chorus saying this minimum wage increase scheduled for April must end.But finally if this Government is serious it must cut taxes to stimulate the economy. The ACT Party has the numbers and the plan ready. If we want to have businesses succeed and keep employing people we need three tax rates of 10 15 and 25 and we can see how we do it—Chlöe Swarbrick: What about poor people succeeding David?DAVID SEYMOUR: Poor people pay taxes too. Chlöe Swarbrick asked about poor people—they pay taxes too. That's why you've got to cut the taxes. That's the kind of management this Government needs."