1. Question No. 1—FinanceNICOLA WILLIS (Deputy Leader—National) to the Minister of FinanceORAL QUESTIONSQUESTIONS TO MINISTERSQuestion No. 1—Finance1. NICOLA WILLIS (Deputy Leader—National) to the Minister of Finance: Does he stand by his statement on Radio New Zealand last month that we're not going to let low and middle income people particularly suffer at the hands of the high inflation we're seeing"; if so is he delivering on that commitment?Hon GRANT ROBERTSON (Minister of Finance): I stand by my full statement "We move into a phase where we do see government spending overall reduce but at the same time we're not going to let low and middle income people particularly suffer at the hands of the high inflation we're seeing—so it's tricky everyone acknowledges that." To the second part of the member's question yes in particular the changes that came into effect on 1 April that will see pensioners veterans students workers on a minimum wage and families receiving Working for Families all better off. Nicola Willis: How can he claim to be delivering for low and middle income New Zealanders when Canstar's Consumer Pulse survey for 2023 found that one in four Kiwis say putting food on the table is their biggest worry?Hon GRANT ROBERTSON: As we've discussed many times in the House in recent times there are particularly tough times for many New Zealand families. That's why as I said we were focused on lifting the incomes of low and middle income families through for example the 1 April changes I just mentioned. Nicola Willis: Well isn't it the case that a family with two school-aged kids on an average household income of $117000 a year will likely get nothing from the Government's 1 April changes because they're not eligible for Working for Families?Hon GRANT ROBERTSON: Obviously the circumstances for each person is different. There are other benefits such as the accommodation supplement that might apply in the situation that the member has raised. What I do know is that the focus that we've had on lifting the incomes of low and middle income New Zealanders including through lifting Working for Families tax credits has been opposed by the National Party.Nicola Willis: How will those changes support a family with a $600000 mortgage who need to re-fix it from an average rate of 2.6 percent two years ago to a 6.4 percent rate today costing them approximately $440 more every week?Hon GRANT ROBERTSON: Again obviously individual circumstances for families would have to be taken into account to be able to answer the member's question precisely. What I do know is that if those people are in work they would have been part of an economy where we've seen average annual wages rise by over 8 percent. Nicola Willis: Does he accept that it doesn't matter how many new payments he designs the underlying issue in our economy is rampant inflation—higher than that in Australia the United States Canada and many other countries we like to compare ourselves with and what will his Budget do to address the underlying drivers of inflation?Hon GRANT ROBERTSON: It's good that the member is focused on the underlying drivers of inflation—for example decarbonising our economy making sure we're less reliant on the price of petrol for example. For what happens in New Zealand would require a Government to actually act to start reducing emissions which this Government did and the previous Government didn't. We also have got the work we're doing around grocery competition which I mentioned would be coming up in the next term of the House. These are the underlying causes of inflation. The Government continues to make sure that we support New Zealanders through tough times and again I say whenever we propose something to do that the National Party oppose it. Nicola Willis: Does he accept that New Zealand is now suffering higher inflation and interest rates than many other countries because we embarked on a larger programme of money printing because his Government is spending more and because it has failed to act on immigration settings?Hon GRANT ROBERTSON: In terms of one of the various questions within there what we did during COVID was important to make sure that not only we saved lives but we also saved livelihoods and businesses. And as I noted to the member during the annual review debate earlier this week: actually more often than not when the official cash rate started to go up it was the National Party who were asking us to spend more money including an $11 billion tax cut package that would have favoured the most wealthy in our society.Nicola Willis: When will he take responsibility for his inaction on inflation letting it rip through Kiwis' household budgets and forcing the Reserve Bank to deliver their 11th official cash rate hike in a row yesterday—yet another punch in the guts to New Zealanders?Hon GRANT ROBERTSON: The member is well aware of who it is who is responsible for setting the official cash rate. In 2016 her mentor Bill English in response to questions said "It is the responsibility of the Reserve Bank. Our job through fiscal policy is to support New Zealanders through tough times." We are doing that. Every time we have proposed something to do that the National Party has opposed it."