Bayly AndrewANDREW BAYLY (National—Port Waikato): Thank you Madam Speaker. I'm glad you brought that to a close—I don't know what the speaking notes are that the Labour members have been given but I do know the first thing they've got to say: they've got to praise the finance Minister. That's how you get ahead that's how you get back in in 2023 because we know we might lose one or two on the way which would be most unfortunate.But the other thing is that this argument that everything is inflationary if you do a tax cut but no other expenditure is ever inflationary that is something I'm going to turn to later in my contribution. But it is a pleasure to be talking on this Budget Policy Statement. I think it's ironic that it is called a wellbeing Budget"—the whole ethos of this document is about discussing about the human capital natural capital social capital financial and physical capital. And it all sounds great. I know the Labour Government and certainly Grant Robertson loves talking in these wellbeing terms. However it's interesting if you turn to social under the social capital top of page 12 first thing we talk about here is social cohesion. Well I've got to suggest to you that right now New Zealand is the most divided it ever has been and that is as a result of four years of this Government. We are so divided in New Zealand and this wellbeing Budget—so-called—in this document I think will be the defining issue of this Government when it finally gets out of office. We will have to deal with the economic consequences of what's gone on and I will talk about that in a minute but the lack of social cohesion the amount of division that now permeates New Zealand I think is palpable and is probably the most damaging thing that this Government will ever be remembered for.But it also on the very next page talks about the impact of what's been going on over the last 22 months. Of course we've had these glowing reports and we heard the member from Hawke's Bay talking just before about how it's all good and great and fantastic. The reality is it has been devastating for many businesses and for many of their employees and for many of their suppliers. And guess who does that! That's people. And of course we've had the tourism industry just decimated; $15 billion worth. We've had the international student market devastated; roughly $5 billion worth. I've been talking to the hospitality industry the Restaurant Association the Franchising Association and of course the arts which are all areas that have been absolutely decimated. Of course if you listened in and heard what many members—from the Labour Party in particular—were saying "Everything is fine and dandy and just wait because we'll just keep investing more money."But the reality is: for many New Zealanders it really is hitting them in their back pocket. We've heard wages have risen by 2.6 percent but at the same time—with inflation this year at 5.9 percent—there is an impact a direct impact in the spending power of ordinary New Zealanders. That means they have less money to spend on their families buying the groceries all those types of things. It's interesting I was just looking at my phone before there's a report that's just come out on Newshub from a lady talking about—she has a family of five children; she's saying that it's costing her between $4000 to $5000 as a result of an increase in food rent and fuel. And it is crippling because the people that the Labour members talk about the ones who are on fixed incomes are the ones that have little discretionary income—certainly the vulnerable and the lowly paid. That is why the poor Government policies that have been put in place that are driving up prices are hitting the very people that they claim to represent and literally people who have less money in their pocket.Of course that Consumers Price Index has been driven by these Government policies. You know if you have this—and we had it in question time today the Hon Paul Goldsmith asking the Minister of employment about the issue about raising cost of living cost of wages increasing holiday pay and increasing number of holidays all that has an impact. If you go and talk to my growers in Pukekohe the cost of labour is a major factor and that is as a direct result of Government policies. Of course what that's led to is the Reserve Bank now being forced to deal with the issue of inflation partly driven by Government policy. Of course now we're going to see the official cash rate go up and as ANZ said the other day they think it will be about 3.2 percent within the next year or so. And so that is why—it's going to feed into mortgage rates and of course we now know that for someone who has a million-dollar house and let's say they've got a $600000 mortgage on it their interest costs this year will be up by another $7000-odd. So you put that on top of the $4000 to $5000 on fuel and those other ones. It is a massive hit to the back pocket of hard-working New Zealanders.So what's the Government's approach been? Well it's just been to spend money and gee doesn't Grant Robertson love doing that. It is unbelievable. What people don't realise is that over the last 22 months Mr Robertson has doubled the debt in New Zealand. It has gone from $60 billion to $120 billion. He's doubled it. That is a record. I can't find evidence of any other finance Minister who's had the title of doubling the Government's the country's debt in less than two years. And he thinks it's great. He's going to do the massive additional $6 billion of allowances this year $4 billion the following year and $3 billion the following. That is on top of the existing allowances. So this is even more money than had been previously planned for and allocated to deal with the increasing costs of health education. What he's done is taken an extra bite of money and put it on top of all of those other allowances that have previously been assumed and budgeted for.So we've got Mr Robertson wanting to spend money—he's good at it there's no doubt about it—but we've also got the ability of this Government to keep increasing the tax revenue. And what people don't realise is that the Government's tax revenue will increase by an extra $20 billion in four years' time. So it slowly goes up—in four years' time the Government will be raking in $20 billion of extra spending in that one year. Of course in the next year under the current arrangements that will rake in probably $20 billion to $24 billion compared to today of additional tax revenue. That's why he thinks he can keep spending the money. What National is about is saying—not about tax cuts and the Labour members love to characterise this as a tax cut: it's not a tax cut. What we want to stop and reverse is all the additional taxes that the Government has imposed on ordinary New Zealanders over the last four years. And gee there's been a raft of them. There's been—I just put in here the regional fuel tax in Auckland yes we do want to reverse it. A lot of it hasn't been spent. We want to reverse the brightline test extension. We're going to be talking about that tonight. Capital gains tax by stealth. We're going to remove the interest deductibility on rental properties—yes we are. Another thing imposed by this Government. We're going to reverse the 39 percent on the top tax rate and best of all we will reverse the workers' insurance or the latest job tax proposal because they are all additional taxes that ordinary New Zealanders will be paying.We think that New Zealanders should not have to bear all these additional taxes that the Government has imposed on them over the last four years. We're going to reverse them and give that money back. That's not a tax cut; that's just saying keep your hands off people's money. Because at the end of the day New Zealanders know how to spend their money. We would rather them that they're spending it investing in their children being able to buy food groceries all those things rather than the Government getting all this money going through a big mincing machine and putting it into wasteful spending projects—and a lot of them just will deliver no value at all."