Bennett David: Taxation (Annual Rates and Budget Measures) Bill — First Reading Second Reading In Committee 
Bennett David: Taxation (Annual Rates and Budget Measures) Bill — First Reading Second Reading In Committee 
[Volume:672;Page:18901] 
DAVID BENNETT (National—Hamilton East) 
: 
 The last speaker from Labour Clayton Cosgrove tried to make out that the Labour generation of the 1990s was holier than thou by saying they had learnt from their mistakes and understood everything and everything was rosy in the economic environment. Well let us look back at the economic environment when Labour put New Zealand in recession before the rest of the world. Just remember that: the rest of the world was still ticking along there were some of the best economic times we have seen and Labour managed to strangle this economy. It managed to put it in recession. Maybe it is time Labour members learnt the lessons from what they did wrong in the 1990s and the 2000s because their economic management has been poor many a time and that was shown in the way that they put this country into recession. 
The other thing Labour did in its last period in Government was that it had high interest rates. Those interest rates were much higher than they are now. They were double-figure interest rates. Go to Kiwi families now and ask how much they are saving on interest rates under a National Government. They are saving a lot. A lot of money is being saved by Kiwis at this time because they know they have stable economic management they know they have leadership that is delivering for them and they know they have a Government that is looking after those in most need the people of Christchurch at this time. They know they have a Government that is also focused on growth. It is investing in infrastructure to lead this country forward. By having solid stable economic management we have a Government that delivers lower interest rates for New Zealanders. That is the best thing we can do for our people: deliver them an economy that gives them low interest rates that gives them an education that gives them a chance to be the best people they can and that gives them some reward when they do things properly so that they get the right signals and incentives. That is the difference between National and Labour. 
This Budget is a Budget in very difficult times. We have to deal with a world recession that is not over although the Labour leader thought it was. It is a recession that is still going. He did not make the free-trade agreement with China either— 
Hon Member 
: Yes he did! 
DAVID BENNETT 
: Oh he did it by himself did he? That is great to know. He went and did it himself. I am sure that is how it worked. The reality is that the Leader of the Opposition had a poor speech today. He had no understanding of economics. He had not even read the Budget. He talked about stuff that was not even in the Budget and missed out on the big issues in the Budget. And what are the big issues? We are investing $8.8 billion to rebuild Christchurch. The people of Christchurch have got a Government that delivers to them when they need it. We stood beside Christchurch when they wanted us and we are giving them what they need now to rebuild that city. 
The second thing in the Budget is that we are still investing in infrastructure. The people of the Waikato are so happy with that. We are getting broadband first. We are getting the Waikato Expressway. That is happening because this Budget kept on building on the infrastructure of New Zealand. 
The third thing about it is that we are reducing our debt. We are having prudent economic management. If those members on the other side had tracked along there would have been $45 billion more debt than that proposed by National in this Budget. 
This is a solid Budget. It delivers to New Zealanders in their time of need it builds a stronger country and it represents sound economic management. Labour has still to learn the lessons of what it got wrong in the past two generations. Thank you.