Willis Nicola; Robertson GrantNICOLA WILLIS (Deputy Leader—National): The context in which we reviewed the Government's finances was a year in which New Zealand is experiencing extremely high levels of inflation which have now persisted for 21 months. This sustained period of high inflation has led to a cost of living crisis and an extremely rapid rise in interest rates which is affecting New Zealanders mortgage holders and businesses across the economy.In that context I think there has been discussion from both sides of politics about the need for spending by the Crown to be disciplined. I note the Minister of Finance has repeatedly committed that the Government would be moving to reduce the volume of Government spending following a very significant level of fiscal stimulus during COVID lockdown years.However in reviewing the Government finances it is really clear that in fact Government spending continued to increase in the 2022-23 year hitting an all-time high of $129 billion a year. So my first question to the Minister of Finance is simply: when will Government spending come down?Hon GRANT ROBERTSON (Minister of Finance): I thank the member for her contribution and also acknowledge the chair of Finance and Expenditure Committee and other members of the committee for the work that they've done.The member who asked the question will be well aware that in the statements we've been looking at and the forecasts going ahead in them our Government spending as a percentage of GDP trends down over the forecast period and ends up at around about the long-run average of 30 percent.Clearly the period of time in particular the financial statements that end on 30 June 2022 that are the focus of this particular hearing covered a period in which there was significant expenditure on behalf of the Crown. For the record for one of many many times that I've said it I stand by the fact that New Zealand needed to move hard and early against COVID-19; I stand by the fact that we made our priorities cash flow and confidence. Many times over the course of the last few years I have met New Zealanders who were in receipt of the support of the Government through COVID-19 from businesses through to individuals who credit the fact that they got that support for their business still being able to operate or for the fact that their friends and family are still with us today.I accept that the Government has had to spend more in recent times than we might have otherwise. I would note that is a relatively similar percentage as a percentage of GDP to that which previous Governments have spent in the wake of for example the Canterbury earthquakes or the global financial crisis. It is a reality that when a rainy day arrives the Government comes along and puts up the umbrella; that is the purpose of the way in which Governments work but clearly the Government has a plan to see Government spending reduce. Not only is that reflected in the percentages of GDP but it is also reflected in the commentary within recent work by both the Reserve Bank and the Treasury that indicate that actually the Government's fiscal stance is a contractionary one and so going forward from here we will be reducing that spending whilst always keeping a balance to make sure that we do look after people with the spending that we do.