8. Question No. 8—FinanceCHRIS BISHOP (National—Hutt South) to the Minister of FinanceQuestion No. 8—Finance8. CHRIS BISHOP (National—Hutt South) to the Minister of Finance: Does he agree with the Prime Minister's statement yesterday regarding the announcement of the 150 shovel-ready projects where there are projects that we have not yet announced publicly that is because we are still in some cases undertaking due diligence"; if so how many projects have completed due diligence but are unannounced?Hon GRANT ROBERTSON (Minister of Finance): Yes I always agree with the Prime Minister. On 1 July we announced that there were more than 150 projects to be funded under the Infrastructure Reference Group (IRG). Of these we have announced 79 projects representing more than $1 billion of Crown investment and more than $2 billion of total project value. These announcements have happened because officials have provided assurances of the projects' overall viability including but not limited to due diligence. We have made it very clear that all approvals are in principle subject to further due diligence and contract negotiations.Chris Bishop: I raise a point of order Mr Speaker This is a question on notice and the second part of the primary question about how many projects have completed due diligence but are unannounced I don't believe was actually addressed by the Minister.SPEAKER: I think it was addressed. It wasn't answered but it was addressed.Chris Bishop: How many projects of the 150-plus shovel-ready projects the Minister has just mentioned have completed due diligence but have not yet been announced?Hon GRANT ROBERTSON: The reasons that projects have not yet been announced are varied. Some of those are due to due diligence some of those are due to contract negotiations and some of those are to do with other verification of the projects including the financing by partners.Chris Bishop: How many projects have yet to be announced that have completed due diligence?Hon GRANT ROBERTSON: There are a variety of reasons it's not possible to separate out.Chris Bishop: For the third time: how many?Hon GRANT ROBERTSON: I've said it's not possible to divide out the different reasons for why projects have not been announced.Michael Wood: Has he seen a statement from the Employers and Manufacturers Association (EMA) about the announced shovel-ready projects which says "Some of these projects have been on the books in Auckland and elsewhere for a number of years; so finally getting them consented and fast-tracked is a welcome development. This is a Government using its powers in a way that clears regulatory hurdles and gets stuff done—just what we need at the moment."; and does he intend to continue working with organisations like the EMA as more projects are confirmed and announced?Hon GRANT ROBERTSON: Yes I welcome those comments and indeed I welcome the reaction to the IRG projects right around New Zealand which has been one of welcoming the fact that in many cases these are projects that communities have wanted for years and they now have a Government that's backing them.Chris Bishop: Is it correct that tomorrow the Government will announce funding for the rebuild of the Naenae pool in Lower Hutt and if so when was due diligence completed on that project?Hon GRANT ROBERTSON: The member will just have to wait. [Interruption] SPEAKER: I'm not allowed to make a comment on that am I."