6. Question No. 6—FinanceHon AMY ADAMS (National—Selwyn) to the Minister of FinanceQuestion No. 6—Finance6. Hon AMY ADAMS (National—Selwyn) to the Minister of Finance: Can he confirm HYEFU 2018 shows that when compared to PREFU 2017 core Crown tax revenue is forecast to be $17.7 billion higher over the period 2018/19 to 2021/22?Hon GRANT ROBERTSON (Minister of Finance): The short answer to the member's question is: no. The slightly longer answer is that Pre-election Economic and Fiscal Update 2017 does not contain a forecast for the 2021/22 year but rather a projection that is based on a mathematical model. Forecasts are subject to a much more rigorous approach than projections and therefore it is not appropriate to compare the two periods as the member attempts to do in her question.Hon Amy Adams: I seek leave to table a document prepared by the Parliamentary Library that compares the core Crown tax revenue over the four years in the primary question and calculates the difference in each year.SPEAKER: I will put the leave. Is there any objection? There appears to be none.Document by leave laid on the Table of the House.Hon Amy Adams: Is he aware that $5.1 billion of the extra tax has been added to the projections in just the six months since Budget 2018 when real economic growth over those same four years is now forecast as being lower than was provided for in the Budget just six months ago?Hon GRANT ROBERTSON: I don't have that number in front of me but what I have been advised is that the vast bulk of the lift in revenue actually comes because people are earning higher wages and there are more jobs—something to celebrate.David Seymour: Has his rapacious overtaxation of hard-working Kiwis—SPEAKER: Order! Order! The member will resume his seat.David Seymour: Point of order.SPEAKER: No. The question is out of order the member knows it and I'm not taking any argument.Hon Amy Adams: Given the Minister's reference to wages is he aware that in the half year update real wage growth forecast for the next four years has also declined since Budget 2018?Hon GRANT ROBERTSON: What they say is that wages will grow an average of around 3 percent a year which is a significant improvement and lift on the record of the member's Government.Hon Amy Adams: I raise of point of order Mr Speaker. I asked very specifically about real wage growth. He answered about a different set of numbers which are nominal wage growth. The Minister of Finance I'm sure knows the difference.Hon GRANT ROBERTSON: Mr Speaker.SPEAKER: Speaking to the point of order?Hon GRANT ROBERTSON: No I was going to add to the answer if that's—SPEAKER: Well if the member wants to—away you go.Hon GRANT ROBERTSON: It may well show that but that's because those forecasts do get revised between the Budget Economic and Fiscal Update and the Half Year Economic and Fiscal Update. They still represent good solid wage growth for New Zealanders.Hon Amy Adams: Does he still stand by his statement made earlier this year: We're actually transitioning away from an economy based on population growth." in light of the half year update showing economic growth per person is lower every single year over the forecast period than the average over the five years before he took office?Hon GRANT ROBERTSON: We most certainly are in the transition that the member talks about in her question and it's a transition that as I've said many times will take some time. We can't make up for nine years of neglect in one year but what we are seeing is a Government that is finally committed to investing not only in the transition to an economy that's got a lower carbon output but also to one where we actually include people all over New Zealand including in the regions.Hon Amy Adams: Isn't the real story of last week's half year update that growth and growth per person forecasts are down inflation and the cost of living have gone up and despite all of that the amount of tax New Zealanders are having to hand over to the Government has gone up significantly?Hon GRANT ROBERTSON: No. The real story of the Half Year Economic and Fiscal Update is that the Government is managing the books well is making sure that we're investing in the things that matter to New Zealanders and is that we have got a vision for an economy where everyone gets to share in prosperity."