3. Question No. 3—FinanceDr DUNCAN WEBB (Labour—Christchurch Central) to the Minister of FinanceQuestion No. 3—Finance3. Dr DUNCAN WEBB (Labour—Christchurch Central) to the Minister of Finance: What reactions has he seen to his announcement of the Government's $12 billion capital investment package?Hon GRANT ROBERTSON (Minister of Finance): I have seen a number of supportive reactions to the announcement yesterday that the Government will lift capital spending to the highest level in over 20 years in order to stimulate the economy and address our neglected infrastructure. The Dominion Post editorial today said It's hard to argue against the assumption it is fiscally wise to borrow and stimulate the economy in this way. An international slowdown has started to have local effects". The editorial goes on to say "The contrast between future spending and recent capital spending is striking." I believe the writer of the editorial may be referring to this chart which shows a significant lift in infrastructure spending under this Government compared for example with the $4 billion spent in 2010 declining to the decade's low of $1.1 billion in 2014.Dr Duncan Webb: What reaction has he seen from business groups to his announcement of the Government's $12 billion capital investment package?Hon GRANT ROBERTSON: The Employers and Manufacturers Association said the additional infrastructure spend of $12 billion is a "welcome boost" and good news for small to medium sized enterprises particularly in the upper North Island which continues to grow rapidly without having had the necessary investment in connectivity and ease of movement to support that growth. Infrastructure New Zealand CEO Paul Blair said "We're delighted with today's announcement of $12 billion in new capital investment by the Government … It is encouraging to see the Government using its recent surplus to invest in productive infrastructure to deliver environmental social cultural and economic outcomes." The Government's package is designed to provide business with a certainty and pipeline of Government demand over the coming years and I'm pleased to see the positivity coming forward from business groups.Dr Duncan Webb: What other reactions has he seen to his announcement of the Government's $12 billion capital investment package?Hon GRANT ROBERTSON: I've seen a number of reactions from commentators who have noted the significant need for this package. The New Zealand Herald's Liam Dann said "Today's announcement paints a stark reminder of what fiscally stimulating economic times we now live in. Around the world we're seeing a swing back to a more favourable view on Government spending as central banks chase interest rates towards zero with limited impact on inflation." Mr Dann went on to say "After decades of austerity it's hard to see anyone making much of a case against this latest round of spending." Stuff's Thomas Coughlan noted—SPEAKER: Order! Order! That is enough.Hon Paul Goldsmith: Did he see the reaction from National's finance spokesman who said "This Government is world class at announcing things and third rate at delivering them."Hon GRANT ROBERTSON: I did see that peep come from across the House and I prefer to take the view of respected economic commentators such as Stuff's Thomas Coughlan who noted "New Zealand has a shocking infrastructure deficit. At [this] time our population began to expand the Government cut back on infrastructure spending. That was a decision that"—SPEAKER: Order! Order! I accept it was a patsy but that's enough."