Bakshi Kanwaljit Singh: New Zealand Business Number Bill — First ReadingText is incorporated into the Bound VolumeBakshi Kanwaljit Singh: New Zealand Business Number Bill — First Reading[Sitting date: 05 May 2015. Volume:705;Page:3195. Text is incorporated into the Bound Volume.]KANWALJIT SINGH BAKSHI (National): Thank you for the opportunity to speak on the first reading of the New Zealand Business Number Bill. First of all I would like to congratulate the Minister for Economic Development the Hon Steven Joyce who has initiated the process of best practice in New Zealand. This legislation allows the allocation of unique identification numbers to businesses such as sole traders partnerships and trustees of trusts. This National-led Government has done a lot of fantastic work in the past 6 years. This current legislation will further enhance the capability of providing better public services to all New Zealanders. Providing better public services of course is one of National’s key priorities.This National-led Government is in no doubt that we need to continually strive to improve New Zealand’s economic performance if we are to continue to live the enviable Kiwi lifestyle. In our economic performance as a country that will determine whether we have jobs our incomes are on the rise our standards of living continue to improve and we provide top-notch services that all Kiwis need and are truly entitled to. By way of this legislation it is estimated that the Government will reduce the cost of doing business by 25 percent by the year 2017. This will in my mind without doubt lead to a more competitive and productive economy. That is what is required.We need to create opportunities for businesses. Small businesses that are engaged in export have increased from 13 percent in 2007 to 21 percent in 2014. Similarly medium-sizedbusinesses that are engaged in export markets increased from 21 percent in 2007 to over 28 percent in 2014. It shows that businesses are growing and looking towards export and that is what we need. We need more jobs we need more growth and we need new markets.This Government has been focused in the past 7 years on opening up doors for businesses to the international market. The recent signing of the free-trade agreement with South Korea is an example of where we have created opportunities for other small and medium sizedbusinesses. The easier and the simpler we make it for businessesto operate the more time and energy we give to our entrepreneurs towards the expansion of their businesses and towards using innovative ideas to create products and services that put New Zealand on the world map. The chain effect of all this of course is a no-brainer. We are creating highly skilled and high-paying jobs for our current and future generations. These jobs will create products and services that will build our exports increase innovation make our workplaces and lives safer and build our natural resources and infrastructure for all of us to make use of.The effect of our pragmatic approach towards assisting Kiwi businesses and Kiwis with our economic management will ensure that the world-leading growth performances that New Zealand has shown in the past couple of years turns into a long-term sustainable future for our economy.This legislation will mean that rather than updating their data on a number of media businesses will need to use just a single medium.The New Zealand Business Number will lead to smart administration solutions for all stakeholders—businesses suppliers and Government. This will save time and effort allowing all to focus on the real work. Furthermore this information will be shared amongst Government agencies so that each time a business needs to interact with a Government agency it will need to provide its New Zealand Business Number. There will no longer be a requirement to fill out multiple forms and go through bureaucratic rigmarole. We are also working closely with our Australian counterparts towards developing mutually recognisable Australian business numbers.Even in our conservative estimate New Zealand businesses stand to save $60 million with this single piece of legislation. It is now up to businesses to take up this opportunity. The sooner all of them sign up the sooner benefits will flow to all businesses. As I said at the start of my speech this is only one of the several positive pieces of legislation that this National-led Government has presented in this House and to New Zealanders. I hope that during the select committee process we will have more interaction with businesses and see how they can benefit. With these words I commend this bill to the House.