1. Economy—Diversification Infrastructure and EmploymentALASTAIR SCOTT (National—Wairarapa) to the Minister of FinanceORAL QUESTIONSQUESTIONS TO MINISTERSEconomy—Diversification Infrastructure and Employment1. ALASTAIR SCOTT (National—Wairarapa) to the Minister of Finance: What reports has he received on the diversification of the New Zealand economy?Hon STEVEN JOYCE (Acting Minister of Finance): I have received a range of positive reports over the course of the year. For example the most recent Statistics New Zealand export data release shows that despite a drop in the value of dairy exports of around $1 billion total exports in the year to June increased by $3.3 billion. That growth is coming from across the economy. In the primary sector meat exports are up 3.6 percent fruit up 30.9 percent and wine up 10.1 percent. In services international visitor spend was up 18 percent international education is worth $4.28 billion and in the manufacturing sector the volume of sales rose 2.1 percent in the September 2016 quarter following a similar rise in the June quarter. These numbers are a testament to the hard work of our producers and exporters and validate the approach of this Government of an outwardly focused and open trading economy.Alastair Scott: How is the Government encouraging diversification of the New Zealand economy?Hon STEVEN JOYCE: In addition to our strong commitment to free and open trade which is creating new markets for new products offshore we have recognised the huge role that innovation plays in making our companies more productive competitive and profitable. Through Callaghan Innovation and New Zealand Trade and Enterprise we are encouraging innovators and entrepreneurs to develop commercialise and sell new ideas and products and they are taking up the Government's challenge. New Zealand's 200 leading high-tech companies grew their investment in research and development by a record 16 percent last year and their turnover was up $1 billion in the year to $9.4 billion. This growth is fuelling more jobs and more opportunities for Kiwis and their families. Alastair Scott: What role does infrastructure play in encouraging economic growth?Hon STEVEN JOYCE: Well it plays a very significant role. Critical infrastructure like roads and broadband connect our cities and regions with the rest of New Zealand and with the rest of the world. That is why we have invested so heavily in recent years in projects like the roads of national significance and our $200 million Accelerated Regional Roading Package. It is why we are rolling out ultra-fast broadband to 80 percent of the country and rural broadband initiatives to more remote areas. Alastair Scott: How is this growth delivering more jobs for New Zealanders?Hon STEVEN JOYCE: This is a very important question. The growing economy is delivering strong labour market growth with 144000 more people in work in the last year alone. This has seen the unemployment rate fall to 4.9 percent which is the lowest rate since December 2008 before the global financial crisis and it is projected to fall to 4.3 percent in coming years. Labour market participation is now 70.1 percent. That is the highest since the series began in 1986. Average weekly wages are up 1.9 percent in the last year compared with inflation of 0.4 percent. These are the results that count: results for hardworking Kiwis and their families delivering more and higher-paying jobs.