4. Question No. 4—FinanceHon PAUL GOLDSMITH (National) to the Minister of FinanceQuestion No. 4—Finance4. Hon PAUL GOLDSMITH (National) to the Minister of Finance: Does he stand by all of the Government's statements policies and actions in relation to the economy?Hon GRANT ROBERTSON (Minister of Finance): Yes in the context in which they were given made and undertaken.Hon Paul Goldsmith: How can he stand by his Government's economic policies when most measures of economic sentiment including this week's One News Colmar Brunton poll on the economic outlook and today's ANZ survey—SPEAKER: Order! Order! Can the member ask a question.Hon Paul Goldsmith: Yes—well when all those things show that levels of confidence are at the lowest since the global financial crisis?Hon GRANT ROBERTSON: I've got confidence in the fact that this Government has a plan for a 21st century economy that's one where we actually build a sustainable growth path that's one where we actually include everybody in the economy; it's not one where we have our eyes firmly fixed on the rear-vision mirror trying to recreate some kind of economy from the 20th century that's not going to work. On this side of the House we have a plan and we're executing it.Hon Paul Goldsmith: Shouldn't our economy be doing quite well right now?Hon GRANT ROBERTSON: Yes indeed—and relative to the rest of the world it most certainly is. We had higher growth rates in the last quarter than Australia than Japan than Canada than the euro area; our performance of services index was expanding higher than Australia the UK China Japan and the US; in other countries where their manufacturing index was contracting in the last month New Zealand's was expanding—Hon Simon Bridges: Not going well.Hon GRANT ROBERTSON: We are doing well relative to the rest of the world. We are also at a point in the economic and business cycle where overall the global economy is slowing but New Zealand's well-positioned to handle that.Hon Paul Goldsmith: Following the Prime Minister's intervention in the Ihumātao dispute has he requested or received any advice on the fiscal risks to the Government and current taxpayers if full and final Treaty settlements were to be reopened?Hon GRANT ROBERTSON: No.Hon Paul Goldsmith: Does he accept that it was misleading for him to say yesterday that an extra $114 million went to Pharmac in Budget 2018 when that money did not represent new spending on medicines but simply transferred responsibility and funding for hospital drug buying from health boards to Pharmac?Hon GRANT ROBERTSON: No I don't. The way that Pharmac's budget is measured is the combined pharmaceuticals budget—that did increase by that level. Just as earlier in the 2010s the Government included vaccines into it and that also increased the value of that fund.Hon Dr David Clark: Does the finance Minister accept that when that money's transferred into the combined pharmaceutical budget it means that the purchasing power of Pharmac means that more New Zealanders get more medicines for the same amount of money?Hon GRANT ROBERTSON: Indeed. In fact the beauty of the Pharmac model is that it actually does allow New Zealanders to get more medicines at a cheaper price. Unfortunately there are some people who want to play politics with that particular model.Hon Paul Goldsmith: Did Budget 2018 increase the Government's total funding for medicines by $114 million?Hon GRANT ROBERTSON: I don't have that detail to hand with me. But what I can tell that member is that the Pharmac budget now sits at close to $1 billion. There have been increases in Pharmac's budget for the last two years. What I can also say to that member is that he and his party need to accept that if we're going to address cancer it's not just about drugs; it's also about all of the treatments. That's what happens in district health boards that's why we increased funding for them by over $2.9 billion in the last Budget and it's why the last Government failed by underfunding them to the tune of $2 billion.SPEAKER: Order! I didn't interrupt the Minister and I have had some criticism for my description of noises emanating from members in the House at previous times. But frankly one of those noises was too loud and too much like an animal. I'd like people just to take some care thank you.