Smith Damien; Salesa JennyDAMIEN SMITH (ACT): As New Zealand's third-most large and popular party—after the latest Colmar Brunton poll—we can tell you that our budget for New Zealand has got cut-through while the other parties go backwards. But we'll park that for a second because we know it'll have to be adopted potentially next year. What has been done to this country? New Zealand used to have the highest standard of living the highest standard of productivity the highest standard of equality—a true nation a great nation—and now we're faced with patches being put on an economy which just isn't right. This wasn't a Budget; this was a political mission. It wasn't a Budget for business. It wasn't a Budget for prosperity or lifting the bottom 20 percent of the country. Indeed it's a squeeze and a full-court press on the people of New Zealand.I'll give you a bit of background about Moody's. I'd rather look at the mood of the country and the people that we're talking to. The mood is this: New Zealanders are being squeezed. Business farmers and growers are under pressure. Our tax system is unfair and the highest in the world—or one of them—and debt is growing exponentially. So the Government we think has a big job to accept. We like a Budget where we see an analysis of actually what can go wrong as well as what can go right and we've found in our analysis a Budget where the modelling is flawed. Even though we're not going to accuse the Government today of fiscal holes we are going to accuse them of some fiscal potholes which will need to be addressed and that is around how they actually run the economy.The economy itself is finding citizens in the middle of it being ignored and feeling like they're being mugged. One of the most amazing things from the revenue forecast during this Budget was that the Government couldn't even predict in its announcements any policy changes around its taxing of property. And why is this happening? It's because they're managing the economy by memo. Nobody knows the rules. This hasn't been designed; so we can't even estimate the revenue from this.It gets worse: in this Budget Treasury hasn't presumed any projections for fair-pay agreements and we explain how that will roll back into GDP forecasts. Following the Government's announcements on net immigration the Reserve Bank admitted to us the other day that they've never even received a memo from the Government on how this will affect maximum sustainable employment. So where do we go from there if the Government's making decisions and Treasury and the Reserve Bank can't actually model the future? That means that for everybody who's sitting at home with a pen and paper at the weekend trying to balance their budget from the working solo mum up to the people who've not been property flippers but actually wanted to build their pension nest eggs uncertainty abounds and reigns.In conclusion these Budget forecasts we think haven't even included some of the major initiatives the Government's talking about; so it's going to be worse off. If we drill into GDP we're now going to face a Budget next year which is about constrain and retain. The reason you use debt is to get uplift and drive and build a modern economy and lift all boats for all people yet what we've got now is a tightrope walk around 50 percent of net debt to GDP. Anything can happen here. Anything can go wrong and it's a big assumption that everything can go right. So the ACT Party is opening up the conversation to look at expenditure and look at restraint but to actually build new legs to the economy through foreign direct investment and through technology to provide jobs that actually our children will be able to stay in this country and thrive upon.Successive Governments over the last 30 years—going back to the post-war era even—have a massive responsibility and the buck stops with them. So what we are looking at is an alternative from the ACT Party which will generate more revenue for this country and that will be good for every single citizen in this nation. Just to look at our long-term fiscal strategy why can't the Government do a better job of communicating its 10-year view? You look at the document—there is no macro-level analysis of where we're actually going. With interest rates and inflation going up GDP will get squeezed and this Budget will not deliver less expenditure; it will deliver more. What we want to see—ASSISTANT SPEAKER (Hon Jenny Salesa): Order! The member's time is up. [Interruption] Order!