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: Does he stand by all of his statements and policies?Hon GRANT ROBERTSON (Minister of Finance): Yes in the context in which they were made and given. In particular I stand by my statement that the New Zealand economy is in good shape to respond to the economic impacts of coronavirus. Hon Paul Goldsmith: Regarding his statement in the House yesterday: We know that COVID-19 will have a significant impact on the New Zealand economy particularly in the short term." what is the latest advice he's getting on its likely impact on New Zealand jobs and incomes? Hon GRANT ROBERTSON: The advice that we're getting is that the first quarter activity in New Zealand will be limited in terms of growth. Clearly that will have an impact in some ways on the jobs and incomes of some New Zealanders. Beyond that all countries around the world are guarding themselves against a longer-term impact through 2020. What I would say is that New Zealanders—if we are talking about incomes—go into this situation with record wage growth over the last 10 years. Hon Paul Goldsmith: Has he had any more specific advice than some impact? Hon GRANT ROBERTSON: I get daily advice on this matter but as the member will well know the data that is used to monitor this comes through with a time lag. But quite clearly from the conversations we're having with businesses we're aware of drop-offs for instance in the tourism sector in particular. But throwing numbers around without evidence behind them is something I try to avoid. Hon Paul Goldsmith: When will we get a clear idea of the Government's fiscal response if any to the economic challenge caused by the virus? Hon GRANT ROBERTSON: You've already seen our responses from an economic perspective. Obviously we're in the process at the moment of putting the Budget together where we'll see fiscal responses. But I would want to reiterate the comments the Prime Minister made from Stephen Toplis from the BNZ today. Not only did he talk about the list of matters that the Government is already doing—the things he thought were important—but he also finished his comments by saying "we cannot stress enough that whatever the impact it will pass. [Where it is imperative we are] prepared to deal with the stresses that this … brings accept what can be achieved but also be resigned to what can't." Then he finished by saying "All the while ensuring that knee-jerk [reactions] will not prove detrimental when all of this is eventually behind us." Hon Paul Goldsmith: Why can't we get a clear sense now of precisely what the Government plans to do over the next couple of months?Hon GRANT ROBERTSON: I think if the member is watching around the world he'll be aware that this is a rapidly evolving situation. In my previous answer I ran through what we are already doing—ranging all the way from the direct support given to the tourism industry the regional business support partner programme with chambers of commerce the direct support being provided by the Ministry of Social Development and IRD and the work we're doing getting alongside employers and employees right around New Zealand. That is what New Zealanders expect. They also expect that this is dealt with in the first instance as a public health issue and that is where it is vitally important we have strong public services. I'm very proud of the fact that the Government has rebuilt those over the last two years.Hon Paul Goldsmith: Regarding his statement recorded in Stuff yesterday that "infrastructure spending could be brought forward to stimulate the economy if the coronavirus worsens" does he acknowledge the frustration of many that most of the key infrastructure projects have been delayed two years already by his Government?Hon GRANT ROBERTSON: What I do acknowledge is the frustration of those all around New Zealand that the previous Government made claims that they had funded things that they had not funded. And I would also say that people around New Zealand are delighted that this Government is now fully funding those infrastructure projects."