Jones ShaneHon SHANE JONES (NZ First): I stand to take a short call and I'm eminently qualified to speak on this matter as a consequence of my forays into the world of supermarket predatory pricing.Hon Dr Nick Smith: Went nowhere.Hon SHANE JONES: We've heard from Mr Nick Smith who took $240000 from the taxpayer to defend himself against egregious and incorrect claims pertaining to the timber industry. He needs the protection of the Commerce Commission. The Commerce Commission through the Minister with these expanded powers can seek to resolve some of the issues that Mr Nick Smith who on two occasions was funded out of the taxpayer for ultimately false claims—Hon Dr Nick Smith: Because leaky homes was a real problem.Hon SHANE JONES: —so the less we hear from him the better which is why as a consequence of today's ructions he will soon be shown the back door. But let me come back to what I learnt through the episode of Countdown. The actual Commerce Commission was unwilling incapable of delving into the behaviour of Countdown. So I congratulate Minister Faafoi for expanding the powers shepherding this legislation. I'm willing to acknowledge quite a bit of what Judith Collins has said: that both parties have had concerns for quite some time as to how we give the Commerce Commission enough powers to intervene in these large monolithic—or sectors of the economy where enormous power is concentrated in a limited number of players.Now I accept that for the last 30-odd years we've got a laissez-faire approach and we've left things really to the Darwinist tendencies of the market. But I think that the recent episode that the Prime Minister is highlighting in relation to fuel companies shows that somewhere within the State we need to endow an institution with enough power of scariness to actually cause information to be brought forward. If we leave it to individual MPs they fall disgraced. As I've said the member from Nelson suffered and required a taxpayer bailout for fear of permanent penury.Hon Dr Nick Smith: Rubbish!Hon SHANE JONES: That is a fact—that is a fact. Hon Dr Nick Smith: No it's not.Hon SHANE JONES: Just google it Madam Assistant Speaker and you will see. The member doth protest too much. On the question of which areas this institution is likely to focus on well it's pretty simple: the cost of power—that has an inordinate impact on ordinary households; the cost of fuel—yes most certainly and especially within the context of the transition economy; the cost of insurance—it's a pity that the member for Nelson didn't have insurance when he put his hand in the taxpayer's pocket up to $300000 several years ago.Hon Dr Nick Smith: Rubbish! Untrue! ASSISTANT SPEAKER (Poto Williams): Order! Let's come back perhaps more to the substance of the bill. I think we're starting to skate towards the edge a little bit here.Hon SHANE JONES: I was only referring to insurance as a possible mitigating effect that Ministers or former Ministers could rely upon rather than raiding the taxpayer's pūtea. But I will follow your admonition. Banks—obviously the cost of fees and I'll have more to say about the predatory behaviour and the egregious rorts that in my view we've seen in Australia and must inevitably be found in some manner or form in our own New Zealand banking system. But given that they don't like me talking about them I'll choose a time which is somewhat biblical like the Ecclesiastes. It is a season for all things. Then there is the general need for the State to remain vigilant on behalf of aggrieved parties or on behalf of politicians who have received accounts where things are not showing that a market is working as we as parliamentarians imagine a market should work. Why shouldn't a backbench MP if possessed of such information have the ability to rock up to the Commerce Commission and invite them to use their expanded powers? Or a vigilant Minister like Minister Faafoi using these expanded powers so that those who are reluctant participants are forced to cough—whether it's the fuel companies or Countdown or indeed the real estate companies given the gouging that I suspect has been happening there. So I'm a thorough supporter of this bill whilst also being a supporter of a market economy. But without rules and regulations markets have a Darwinist effect and a very negative effect on consumers. Thank you very much.