3. Question No. 3—FinanceHon PAUL GOLDSMITH (National) to the Minister of FinanceQuestion No. 3—Finance3. Hon PAUL GOLDSMITH (National) to the Minister of Finance: Is he confident the Government is taking the necessary steps to preserve jobs and strengthen the economy?Hon GRANT ROBERTSON (Minister of Finance): Yes I am and I've just outlined those.Hon Paul Goldsmith: When will money reach affected businesses from any short-term wage subsidy he is planning as part of the business continuity package?Hon GRANT ROBERTSON: As soon as is practically possible.Hon Paul Goldsmith: Can he give any clearer guidance than that?Hon GRANT ROBERTSON: As we've announced several times this week we'll have more to say about that next week.Hon Paul Goldsmith: Why is he taking longer to announce the details of a short-term package than larger economies such as the UK and Australia?Hon GRANT ROBERTSON: As I've already said in my earlier answer we've undertaken a number of actions already. The further shape of the wage subsidy scheme will be announced next week. I think we are responding in a timely manner to these matters. Many of the things that are part of the Australian package are actually things New Zealand's already done such as the $12 billion infrastructure package.Hon Paul Goldsmith: He does recognise there is a difference between announcing a $12 billion package and actually getting the money flowing into the economy?Hon GRANT ROBERTSON: I recognise the difference between making a whole lot of claims about what you're going to do in a press release and then not putting any money aside for this. Ours is a fully funded $12 billion infrastructure package.Hon Paul Goldsmith: Regarding his change in language today from saying the economy had strong momentum" before the coronavirus outbreak to now saying it had "solid momentum" what is his definition of "solid momentum" in terms of economic growth?Hon GRANT ROBERTSON: My definition of "solid momentum" is that in the Government accounts for the six months ending December 2019 we were $500 million ahead in terms of our fiscal position than what had been forecast; we had higher corporate tax take; higher GST take; we had unemployment at 4 percent; and we had net core Crown debt when we got to the seven months at the end of January at 19.5 percent—significantly less than what we were left by the previous Government. That is solid momentum.Hon Paul Goldsmith: Isn't momentum usually attributed to growth and is it not the case that 1.6 percent GDP growth for 2019 does not represent strong momentum?Hon GRANT ROBERTSON: I challenge the premise of the figures that the member has put out in front of us. We have an economy that has been growing at a faster rate than most of our trading partners and that has strong momentum in its labour market with 4 percent unemployment and that has strong momentum in its wages with wages around a 3.6 percent increase. This is an economy that is doing well. I would really encourage the member to focus on the positive and let's all get together and actually make sure that New Zealand gets through this coronavirus crisis.Kieran McAnulty: In light of his previous answer stating the number of things the Government is doing in response to COVID-19 would one of those things be to go out and panic buy as advocated by David Bennett?Hon GRANT ROBERTSON: Absolutely not. This is the time for cool heads. This is the time for all New Zealanders to focus on what we can do together to ensure that our workers and our businesses get through this.Rt Hon Winston Peters: Has he heard these comments: "During a serious outbreak of a new infectious disease the last thing we need is for our elected representatives to be undermining the important messages coming from the Government scientists and public health professionals" and does he recall that it was microbiologist Siouxsie Wiles Oxford trained who said that about Mr Simon Bridges?Hon GRANT ROBERTSON: It is imperative that as a country we come together and have a positive focus on what we can do. There are workers and businesses around New Zealand who are anxious. The last thing we need is scaremongering and politicking.Hon Paul Goldsmith: I presume the Minister is not saying that the important role of the Opposition is to ask serious questions about how quickly his Government is moving to provide clarity and a clear response to this serious economic outbreak.SPEAKER: Well there wasn't a question there. Another attempt? Does the member want to try and change that into a question?Hon Paul Goldsmith: Is the member saying that it is inappropriate in some way for the Opposition to ask serious questions about the speed and timeliness of the Government's response to this serious economic challenge for this country?Hon GRANT ROBERTSON: Far from it. The Opposition is entitled to ask serious questions. Where we have concerns is where people contribute to panic-buying type responses where we hear from the Opposition a fixation on wanting to attach blame for an issue that quite clearly is driven by a global health crisis. What New Zealanders want is for all of us to be focused on how we assist people through this.Hon Paul Goldsmith: And is it not important as we deal with a serious economic challenge that we acknowledge the real situation of the New Zealand economy prior to coronavirus taking place and focus on how we come out of this stronger at the end?Hon GRANT ROBERTSON: I have been answering those questions and I think I've given a number of examples of why we had solid momentum. I wonder if the member might like to reflect on the editorial in today's Dominion Post where in response to his claim that the minimum wage should not be increased the Dominion Post said "There is an opportunism in calling for measures that would hit the poorest [Kiwis] hardest at a time when … Government and … opposition should be bigger than party politics. Putting wage rises for the worst-off on hold is not being in it together." Perhaps the member would like to reflect on those words.Hon Paul Goldsmith: Will any wage subsidy to businesses desperately affected by the outbreak for full-time workers arrive before or after the Government insists those same businesses pay minimum wage workers an extra $48 a week?Hon GRANT ROBERTSON: As I said details of that will be announced next week. We will move as fast as is practicably possible."