Parker David: Questions for Oral Answer — Questions to MinistersText is incorporated into the Bound VolumeParker David: Questions for Oral Answer — Questions to Ministers[Sitting date: 30 July 2014. Volume:700;Page:19660. Text is incorporated into the Bound Volume.]6.Hon DAVID PARKER (Deputy Leader—Labour)to the Minister of Finance: Has he achieved all his promises in his last six years as Minister of Finance?Hon BILL ENGLISH (Minister of Finance):Yes despite challenging circumstances and of course with the support and effort of so many New Zealand households and workplaces. For instance we inherited a Budget outlook of a $3.9 billion fiscal deficit in 2009 and forecasts of never-ending deficits thereafter and now we are on track to surplus. We said we would protect the most vulnerable New Zealanders through the recession and ensure that the tax system is fairer and we have done that. We said we would create an economic environment where business was confident to invest supporting more jobs and higher incomes and we have done that. But of course there is still much work to be done partly to complete fixing the damage of the previous Labour Government but more important to realise the true potential of so many New Zealanders who aspire to a brighter future.Hon David Parker: Why has the wage gap with Australia which he promised to close by 2025 widened since he took office in 2008 using the methodology that the Prime Minister promotes by close to $70 per week and is now over $190 per week?Hon BILL ENGLISH: The member is wrong but here is a measure of it. Are New Zealanders getting on planes in their thousands to go to a labour market where they think they can get paid more? Last month the net outflow of New Zealanders to Australia was zero. That is the Kiwi battlers are staying home because things are better here.Hon David Parker: I seek leave to table a document prepared by the Parliamentary Library based on the methodology used by John Key that shows that the wage gap has widened by $68.85—Mr SPEAKER: Order! Leave is sought to table that particular document prepared by the Parliamentary Library. Is there any objection to it being tabled? There is none. It can be tabled.Document by leave laid on the Table of the House.Hon David Parker: Does he regret promising to raise $5 billion to $7 billion from the sale of State assets to spend on schools and hospitals when he raised less than that amount and then spent the money on things like fixing the roof of the Beehive bailing out Solid Energy and a new computer system for Cabinet?Hon BILL ENGLISH: No. No regrets about that whatsoever. The Government has $4.7 billion in the Future Investment Fund and we are proudly spending that on other public assets such as the largest most complex construction project in New Zealand: the rebuilding of several hospitals in Christchurch. We are very proud of the fact that we have been able to sell shares to New Zealanders. They gave us their money and now we are spending it on other public goods.Hon David Parker: Does he still stand by his promise to lift exports to 40 percent of GDP by 2025 when since he took office exports have fallen from 33 percent to 29 percent of GDP—Hon Steven Joyce: It’s wrong. He’s wrong.Hon David Parker: —and Treasury forecasts them to keep falling? Mr Joyce read your numbers. That is right.Mr SPEAKER: Order!Hon BILL ENGLISH: Well given the choice I agree with my colleague Mr Joyce that the member is wrong. But I can tell the member this. There is no way exports would grow if we adopted a policy of shutting down the dairy industry and the oil and gas industry. That would not only be bad for exports but devastate our regions the economies of which are overwhelmingly resource-based. That is the Opposition’s policy.Hon David Parker: Given that exports were 33 percent of GDP when he took office what percentage of GDP are they now?Hon BILL ENGLISH: I cannot answer that question in detail because exports are at record levels. In the last quarter in the last 3 months New Zealand recorded one of its best-ever trade surplus results. Rather than criticising the export sector we support it. It has been remarkably resilient over recent years—Richard Prosser: I raise a point of order Mr Speaker. If the Minister begins his answer by saying “I cannot answer this question.” why does he then continue to answer the question?Mr SPEAKER: Order! I will judge the length of the answers. As I have mentioned to this House on many occasions I take into account the length of the question and the tone of the question but it is for me to judge that not for Mr Prosser.Hon David Parker: I seek leave to table a table prepared by the Parliamentary Library showing that exports have decreased from 33 percent to 29 percent of GDP—Mr SPEAKER: Order! [Interruption] Order! The documents have been described. Leave is sought to table the research document prepared by the Parliamentary Library. Is there any objection to that being tabled? There is none. It can be tabled.Document  by leave laid on the Table of the House.Hon David Parker: How can he say he has fulfilled his promise to rebalance the economy away from housing speculation when Auckland house prices have increased at an annual growth rate that is 50 percent higher in real terms than it was under the previous Government when average house prices in Auckland are now touching $700000 and homeownership rates are at their lowest level in over 50 years?Hon BILL ENGLISH: As the member will know the Government has worked pretty hard over the last 3 years to do almost everything short of taking housing decisions off Auckland Council in order to free up supply in the Auckland housing market. Unfortunately the Opposition has not supported us on all the measures that we have taken but help is on its way. The housing market is cooling supply is growing and New Zealanders can look forward to more affordable housing if they re-elect the National Government.