Peters Winston: Questions for Oral Answer — Questions to MinistersText is incorporated into the Bound VolumePeters Winston: Questions for Oral Answer — Questions to Ministers[Sitting date: 22 October 2013. Volume:694;Page:14048. Text is incorporated into the Bound Volume.]2.Rt Hon WINSTON PETERS (Leader—NZ First) to thePrime Minister: Does he stand by all his statements?Rt Hon JOHN KEY (Prime Minister): Yes.Rt Hon Winston Peters: Why did he make a misleading statement onTVNZ’sBreakfast yesterday which I quote: “I know that these guys are on this track at the moment … to … nationalise building nationalise our management funds they’ll be nationalising supermarkets and petrol stations and everything else soon.” when New Zealand First has never suggested nationalising the existing KiwiSaver scheme?Rt Hon JOHN KEY: Because it is true and I was just using the opportunity to make a policy announcement for New Zealand First in case it does not get enough air time to do it itself.Rt Hon Winston Peters: Why did he say the “KiwiFund” policy would take out competition when New Zealanders will still have the choice of which provider to belong to or does he think that the interests of high-charging KiwiSaver providers are more important thanKiwiSavers themselves?Rt Hon JOHN KEY: Notwithstanding that the member was typically extremely vague in his speech what I will say is that what he seemed to be saying in his speech is that under New Zealand First the Government-run KiwiSaver provider would Government-guarantee the returns—in other words there would be no losses—there would be assumedly no fees and on that basis how could anybody compete with that?Rt Hon Winston Peters: What undertakings has the National Party made to the members of the Financial Services Council apart from providing the chairperson?Rt Hon JOHN KEY: I cannot recall making any but what we are keen to do is promote competition. There is $16 billion in KiwiSaver at the moment. That $16 billion is well serviced by 20 providers. They provide different strategies in different risk profiles. As theNew Zealand Herald editorial pointed out this morning having one provider would not be a good thing. I think the member should do this: I think he should stop worrying about mucking around with KiwiSaver which is operating well and start worrying about Colin Craig. [Interruption]Rt Hon Winston Peters: I raise a point of order Mr Speaker. Because of the noise I couldn’t hear the end of that answer. Could I hear it again?Mr SPEAKER: The member is lucky. [Interruption]Rt Hon Winston Peters: Sorry Mr Speaker I could not hear you either when you gave the ruling.Mr SPEAKER: The Prime Minister finished his question by saying something around how he might be better if a man called Colin Craig got more air time that sort of thing. [Interruption] Order!Rt Hon Winston Peters: Does he maintain that private providers are the best managers of pension funds bearing in mind a company called Merrill Lynch lost $53.5 billion in pension funds in 2001 as he was bailing out from the company?Rt Hon JOHN KEY: Firstly I might point out that when I was with Merrill Lynch it was good. The difference between me and that member is that Merrill Lynch wanted me to work for it; it never wanted Winston Peters from what I can recall.Rt Hon Winston Peters: I raise a point of order Mr Speaker.Mr SPEAKER: A point of order and it will be heard in silence.Rt Hon Winston Peters: I seek leave to table a projected cumulative investment management fees chart that arises from the Parliamentary Library taking into account projections by Treasury and Infometrics; the second is a NinaMontagu-Smith 4 June 2002 report of a massive loss the previous year by pension funds manager Merrill Lynch Mr Key’s firm of course; another article byMontagu-Smith as well; and just to make sure he does not duck out of it—Mr SPEAKER: Order! Just give us the information.Rt Hon Winston Peters: —theWikipedia record of this man’s performance and work history the Prime Minister of this country.Mr SPEAKER: Order! For the sake of clarity we will put all of the leave together. Leave is sought to table about four documents. Is there any objection to it?Hon Gerry Brownlee: We would have to object to the lot because some of it’s publicly available.Mr SPEAKER: Order! Objection is made.Rt Hon Winston Peters: I raise a point of order Mr Speaker.Mr SPEAKER: Order! I have put the leave.Rt Hon Winston Peters: He did not say no; he said we would have to check the lot which assumes that he wants to see them.Mr SPEAKER: No no no. He said he was objecting when leave was put. That is what the member said.Metiria Turei:Tēnā koutou e te Whare. Does the Prime Minister stand by his statement that there is no reason why John Banks should not vote on the Skycity bill given his previous attacks on Labour for using Taito Phillip Field’s vote while that former Minister was also facing a criminal charge?Rt Hon JOHN KEY: Yes and the interesting thing will be to see whether Labour votes for the Skycity bill now.Metiria Turei: Can the Prime Minister remember making this statement in relation to the then Prime Minister Helen Clark: she “was prepared to cynically cling to power by continuing to exercise Mr Field’s vote no matter what. She would have used any excuse to not act against him to maintain her slim one-vote majority.” and will he stick to his own high principles and refuse to exercise Mr Banks’ vote at least on the Skycity deal?Rt Hon JOHN KEY: The member seems to be forgetting something either conveniently or otherwise. Taito Phillip Field was a member of the Labour Party and the Labour Party exercised their vote. Mr Banks is a member of the ACT Party and hedecides whether he votes or not—[Interruption] Look the question is whether you guys are going to vote for it because we all know what you are saying around Auckland.