Ross Jami-Lee: Oral Questions — Questions to MinistersText is incorporated into the Bound VolumeRoss Jami-Lee: Oral Questions — Questions to Ministers[Sitting date: 20 May 2015. Volume:705;Page:3446. Text is incorporated into the Bound Volume.]3.JAMI-LEE ROSS (National—Botany) to the Minister of Finance: How will the Government’s responsible fiscal management support better public services for New Zealanders in Budget 2015?Hon BILL ENGLISH (Minister of Finance): The Government has managed the finances that are paid for by the taxpayer by being careful with new spending and focusing consistently on reprioritising—that is shifting money from programmes that either do not work or are low priority to new more effective spending. For instance over the previous six Budgets the total new discretionary spend of this Government has been around $3 billion. Over the last six Budgets of the previous Labour Government the total new spending was $20 billion. The Government has over the last six Budgets been able to shift around $15 billion of spending from ineffective or low-priority programmes to more effective programmes and that has been at least as important as the new spending.Chris Hipkins: I raise a point of order Mr Speaker. I wanted to wait until the Minister had finished his answer before raising this because he had already begun his answer. I was expecting that you may have had a comment on the primary question set down because of the assertion that it contains within it and your previous rulings on our questions that contain such assertions. If it is acceptable for Government members to ask about “responsible” fiscal management can we ask about “irresponsible” fiscal management?Mr SPEAKER: I certainly examined the questions and did not pick up that at 11.30. It was accepted and tabled in the House. It was only when an interjection came from my left during the question that I really focused on the meaning of that word. I think it would have been a better question without that word there. I should have picked it up at 11.30 but I did not.Jami-Lee Ross: How is the Government using capital reprioritisation to improve public services and avoid further overseas borrowing?Hon BILL ENGLISH: The main tool the Government is using is the Future Investment Fund. The sale of electricity assets raised $4.7 billion which was allocated to the Future Investment Fund and we are now able to use that money to invest in other public assets. So far the Government has invested around $700 million in health nearly $400 million of the fund in education and $1.9 billion in other public assets. That means we have not had to go to foreign lenders for more money. We have been able to use the savings of New Zealanders who bought the shares to invest in New Zealand assets. [Interruption]Mr SPEAKER: Order! The level of barrage I am getting from two or three members on this side means they can take this as their final warning. If it continues at that volume I will be asking those members to leave the Chamber.Jami-Lee Ross: How have dividends paid by mixed-ownership companies to the Government increased since the part sale of those companies?Hon BILL ENGLISH: At the time there was some suggestion the Government would be giving up dividends if it sold down the shares but I can inform the House that the Government as a 51 percent owner is now receiving more dividends than it did when it was on average a 100 percent owner of the companies. For instance the highest annual dividend received from Genesis Energy at any time in the previous 10 years was $57 million. The average dividend was $32 million when we were the 100 percent owner over those 10 years. This year we will receive $76 million in dividends. As a 51 percent owner we will get more than twice the dividend we got on average from Genesis Energy. We can apply that to more high-priority Government social programmes.Jami-Lee Ross: How will Budget 2015 continue the Government’s ongoing programme to improve public services for New Zealanders while helping to support more jobs and higher wages through careful fiscal management?Hon BILL ENGLISH: In many ways that will be talked about in detail in the House tomorrow but it will be against the background of growth over the next 4 years forecast to deliver more jobs through to 2019 in addition to the 194000 jobs that have been added to the economy since 2011. Wages are expected to continue increasing ahead of the cost of living. Budget 2015 will be a responsible Budget from a responsible Government.