3. Question No. 3—Prime MinisterRt Hon CHRIS HIPKINS (Leader of the Opposition) to the Prime MinisterQuestion No. 3—Prime Minister3. Rt Hon CHRIS HIPKINS (Leader of the Opposition) to the Prime Minister: Talofa lava. Does he agree with the then Leader of the Opposition Christopher Luxon who stated on 19 September 2023 regarding the National Party's proposed tax cuts that for an average household income family with young kids that would mean $250 a fortnight"?Rt Hon CHRISTOPHER LUXON (Prime Minister): In the context that that statement was made yes and I can confirm that this Government will be delivering tax relief in this year's Budget supporting Kiwis with the cost of living with more detail to come on Thursday. And like him—though I don't agree with Labour's tax policy at the election—he's already flip-flopped on capital gains tax and my bet is he's going to flip-flop on GST too.Rt Hon Chris Hipkins: How many families will benefit from $250 a fortnight in tax cuts as a result of this year's Budget?Rt Hon CHRISTOPHER LUXON: As your former finance Minister used to say "Two more sleeps to go."Rt Hon Chris Hipkins: How many extra dollars per week will a minimum-wage worker keep thanks to his Government's tax cuts?Rt Hon CHRISTOPHER LUXON: Again you'll have to wait till Thursday but what I can say to that member is that this is a Government that believes after 14 years that working New Zealanders low and middle income workers the same people the Labour Party and the New Zealand Council of Trade Unions used to care about actually need support. And I'd just encourage that member and his party and say vote for the tax relief that we're going to be delivering on Thursday evening.Rt Hon Chris Hipkins: Can he confirm that according to the National Party's own tax calculator which has mysteriously been removed minimum-wage workers can expect an additional $2 a week?Rt Hon CHRISTOPHER LUXON: Well again the member will have to wait until Thursday but what I appreciate is the question about the tax calculator because I do want to say to the few people that are watching this broadcast today get on board go check out the official tax calculator on Thursday and see how much benefit you're going to get.Rt Hon Chris Hipkins: How many extra dollars per week will a typical property investor keep thanks to the Government's tax cuts?Rt Hon CHRISTOPHER LUXON: Again that'll be dependent upon their individual circumstances but what's great is that we have restored interest deductibility we've reduced the brightline test and we're balancing laws between tenants and landlords so we get a greater supply of rental properties in the housing market.Rt Hon Chris Hipkins: Can he confirm that a typical property investor can expect to keep an additional $288 per week per property or 144 times what a minimum-wage worker can expect to keep?Rt Hon CHRISTOPHER LUXON: Well what I can confirm is that this is a Government that is going to solve the housing crisis unlike his Government that had six years to do it and didn't deliver. We're here to deliver. We want an increase in supply in new houses being built an increase in supply in rental properties and an increase in supply in social housing.Rt Hon Chris Hipkins: Will he guarantee—[Interruption]SPEAKER: Hang on. Wait on. Wait. OK.Rt Hon Chris Hipkins: Will he guarantee that this year's Budget will not lead the Reserve Bank to hike up interest rates again leaving families worse off; if not why not?Rt Hon CHRISTOPHER LUXON: Well look I really appreciate the member's interest in tax relief. It's the most animated I've seen him discussing it. He had six years to deal with it. He didn't touch it at all. And I'm just thinking of all those low and middle income workers out there that are working incredibly hard and still can't get ahead because of the economic vandalism and mismanagement that his Government created. And help is on the way on Thursday.Rt Hon Chris Hipkins: Point of order Mr Speaker. SPEAKER: Point of order—I think I can anticipate—Rt Hon Chris Hipkins: Maybe I could just repeat it.SPEAKER: Beg your pardon?Rt Hon Chris Hipkins: Maybe I could just repeat it.SPEAKER: Well I don't think you need to repeat the question but I think the answer could be further elucidated.Rt Hon Chris Hipkins: Very good.Rt Hon Winston Peters: Supplementary question.SPEAKER: No the Prime Minister's going to—Rt Hon Christopher Luxon: Can he repeat—sorry I missed—SPEAKER: OK. Repeat the question.Rt Hon Chris Hipkins: Will he guarantee that this year's Budget will not lead to the Reserve Bank hiking interest rates again leaving families worse off; if not why not?Rt Hon CHRISTOPHER LUXON: What I can say to him is our Budget is designed to lower Government spending to lower inflation so we lower interest rates get the economy growing and we actually keep people in employment. The tragic reality of the previous administration was Government spending went up 84 percent inflation hit an all-time high interest rates hit an all-time high the economy's in recession and rising unemployment. The Reserve Bank has an independent—we have—an independent policy with the Reserve Bank.Rt Hon Winston Peters: Can the Prime Minister assure the country that despite the economic crisis we inherited and despite the targeted expenditure and changes we've made we nevertheless are looking forward to a period where New Zealand will have more money in the economy than ever before but in the right places?Rt Hon CHRISTOPHER LUXON: Absolutely. And I also appreciate the opportunity to help the member understand economics which is when you increase spending you increase domestic inflation; that lifts interest rates that slows the economy down and that raises unemployment. That's what we're trying to deal with. The root cause of the problem: inflation. [Interruption]SPEAKER: I know that a few days before a Budget the House is a little more animated than usual but it's been particularly animated today. I'd just suggest members keep it as calm as reasonably possible."