6. Question No. 6—FinanceNICOLA WILLIS (Deputy Leader—National) to the Minister of FinanceQuestion No. 6—Finance6. NICOLA WILLIS (Deputy Leader—National) to the Minister of Finance: Is he concerned by the findings of the latest ANZ consumer confidence survey which shows consumers are significantly less confident than in Australia and a record number of people are expecting to be worse off this time next year?Hon GRANT ROBERTSON (Minister of Finance): The findings of the latest ANZ consumer confidence survey reflect the uncertain and challenging environment that New Zealanders are facing in 2022. Like all New Zealanders I am concerned about the impact of nearly 2½ years of the global COVID-19 pandemic resulting supply chain blockages and Russia's illegal invasion of Ukraine. We are however in a strong position to be able to support New Zealand businesses and households through this time just as we protected them through COVID-19. It's why we boosted the incomes of low and middle income families from 1 April instead of giving thousands of dollars to the wealthiest New Zealanders. It's why we cut the fuel excise by 25c to help New Zealanders facing pain at the petrol pump. When we see strong Crown accounts and small to medium sized enterprise (SME) surveys like the Xero Small Business Index which today showed small business growth over the start of the year with wage growth and job growth and stronger SME activity than in Australia or the UK it indicates that as a country we can deal with the uncertainty and support New Zealanders to get through the Omicron peak and this global inflation spike.Nicola Willis: Why does he keep blaming international events for New Zealand's economic situation when Australia affected by the very same events is experiencing lower inflation than New Zealand higher consumer confidence and higher growth forecasts?Hon GRANT ROBERTSON: Right around the world countries are experiencing the impact of the global COVID-19 pandemic. We are at different stages of that pandemic. The survey the member refers to in her primary question comes at a time when New Zealanders are experiencing the worst of COVID-19. Through the actions of the Government and the hard work of New Zealanders up to this point we have been able to withstand that and we will continue to do so. I would bear in mind that organisations such as the IMF have as recently as last week congratulated New Zealand not just on our health response but also our economic response as well.Nicola Willis: Is he concerned that New Zealanders' consumer confidence is now lower than even during the depths of the global financial crisis and will he acknowledge that a growing number of households feel they are going backwards on his Government's watch?Hon GRANT ROBERTSON: As I said in my answer to the primary question this is an extremely challenging time for many New Zealand businesses and households. We supported those businesses and households to get through COVID-19 and we are continuing to do so. On this side of the House we know the importance of investing long term in things like transport and in housing and making sure we have a good health and education system is required alongside making sure we provide those individual supports.Nicola Willis: What does he say to Katie who responded to the Prime Minister's Facebook post about the Government's 1 April changes to benefits and entitlements saying What about the middle income earners. We both have full-time jobs. There is no relief because we aren't on benefits but still get stung by the increases everywhere."?Hon GRANT ROBERTSON: I express sympathy for that person but then I would refer that person to meet up with Becks who wrote to the Prime Minister to say "Thanks so much for all you and your Government has done. The COVID assistance has kept me in business without a doubt and I've been around long enough to appreciate that National would've turned a blind eye to the likes of my little business."Nicola Willis: Is he concerned about the economic situation confronting Sarah who also responded—[Interruption]SPEAKER: Order! The member can have two extra supplementaries for that outburst.Nicola Willis: Thank you. Is he concerned about the economic situation confronting Sarah who also responded to the Prime Minister's Facebook post saying "What about the middle classes who earn slightly too much to get in-work tax credits yet not enough to keep up with the ever increasing cost of living."?Hon GRANT ROBERTSON: What I would say to that person and to all New Zealanders is that we appreciate the challenges that are in front of them and that's the reason why packages like the 1 April package came through. It's the reason why we supported New Zealanders with $23 billion worth of financial support through the COVID-19 pandemic. But I would also invite that person to perhaps be able to talk to Martina who wrote to the Prime Minister to say "I personally wanted to say thank you for always having the heart of New Zealand in the support you and your Government give us. Watching you and the team yesterday"—this is last week—"as you gave details of the petrol reductions was uplifting. This is a Government that has tried to act quickly and alleviate the pressure and stresses for families and businesses across the country. Your heart shines through the key messages you give. I'm not simply saying thank you for yesterday but—"SPEAKER: Order!Nicola Willis: Why won't he improve New Zealanders' financial prospects by delivering them income tax relief when the Crown accounts today show that thanks in part to inflation the Government is raking in more income tax than forecast up $12.5 billion since Labour came to office?Hon GRANT ROBERTSON: What I would note that those accounts show is that revenue is coming in to the Government as a result of the fact that companies are making bigger profits and more people are in work and they're earning more. On this side of the House we don't think giving tax cuts to people who earn more than $180000 is the right response in the environment we have and neither does the IMF so I think for that member's benefit on this side of the House we will continue to support New Zealanders we will continue to target where we put it and we will be careful with the Government's books.Nicola Willis: Does he consider that record low consumer confidence indicates as ANZ states "a broad consensus that it's time to close the wallet" and why is it that the Minister is planning a record $6 billion operating allowance in the upcoming Budget but will not prioritise tax relief for struggling New Zealanders?Hon GRANT ROBERTSON: It's a surprising question from the member given that she appears to be joining me in the view that we need a $6 billion operating allowance because she actually told the New Zealand Herald today that she's going to spend the same amount of money as this Government is except that she's going to prioritise untargeted tax cuts for the most wealthy New Zealanders.Nicola Willis: Is he concerned that the vast majority of New Zealanders think that right now is a "terrible time" to buy a major household item and does he not accept that this is an ominous sign for the future?Hon GRANT ROBERTSON: I think many New Zealanders will be experiencing the impacts of global supply chain disruption which would particularly affect the purchase of those sorts of items. What I think New Zealanders also understand is the importance of taking a long-term view where we do invest in health we do invest in education we do invest in housing we do invest in transport and balance that with keeping an eye on the books and looking after the people who need it the most not giving tax cuts to people who earn more than $180000 a year."