3. Question No. 3—FinanceNICOLA WILLIS (Deputy Leader—National) to the Minister of FinanceQuestion No. 3—Finance3. NICOLA WILLIS (Deputy Leader—National) to the Minister of Finance: Does the Minister stand by the Government's economic and fiscal policy and all Cabinet decisions giving effect to that policy?Hon GRANT ROBERTSON (Minister of Finance): As I said to the member yesterday our economic policy has led to strong outcomes such as a 3.3 percent unemployment rate a larger economy than before COVID inflation below that of many of the countries we compare ourselves against and some of the lowest public debt in the world. In answer to the second part of the question I always respect and uphold collective Cabinet responsibility. And as I'm sure the member will be aware if she has specific questions about the details of specific policies she should address those questions to the members responsible.Nicola Willis: Did Cabinet agree to a Government policy to make all KiwiSaver management and investment fees subject to 15 percent GST meaning KiwiSaver members would have less available when they withdrew funds to purchase a first home or for retirement; and does that remain Government policy?Hon Chris Hipkins: Point of order Mr Speaker. The Minister being asked the question is not responsible for that. Those are rightly the responsibility of the Minister of Revenue. If that's what the member wanted to know she should have asked a question to the Minister of Revenue.Nicola Willis: Responding to the point of order.SPEAKER: Can you read the question again?Nicola Willis: Certainly. I asked: did Cabinet agree to a Government policy to make all KiwiSaver management and investment fees subject to 15 percent GST meaning KiwiSaver members would have less available when they withdrew funds to purchase a first home or at retirement; and does that remain Government policy?SPEAKER: Is the Minister responsible for GST?Nicola Willis: Absolutely.Hon GRANT ROBERTSON: Point of order Mr Speaker.SPEAKER: No you can speak to this one.Hon GRANT ROBERTSON: Speaking to the point of order the question asks whether or not Cabinet decided something. That is—Nicola Willis: Ducking and diving.SPEAKER: Oh gosh. I'm ruling that question out of order. Part of it could go to the Minister of Revenue part of it to the—probably—Prime Minister who's responsible for the Cabinet.Chris Bishop: Point of order Mr Speaker.SPEAKER: A new point of order.Chris Bishop: The primary question is a very broad one in relation to economic and fiscal policy. That is well within the remit of the Minister of Finance. If the Minister of Finance is not responsible for economic and fiscal policy it's a little bit unclear exactly who is. And the question is well within those realms. A taxation policy is fiscal policy.SPEAKER: No I disagree. You've got a further supplementary?Nicola Willis: Was the Minister of Finance present at the Cabinet meeting that agreed to introduce a new KiwiSaver tax; and if so why did that Minister support a tax policy that would reduce New Zealanders' retirement savings?Hon GRANT ROBERTSON: I was—and this will be a massive revelation—present at a Cabinet meeting where decision was made on the taxation arrangements around managed funds yes.Nicola Willis: Isn't it correct that the reason the Minister agreed to the KiwiSaver tax is that he was excited by the prospect of $225 million in extra revenue fleecing the pockets of New Zealanders to feed his Government's addiction to spending?Hon GRANT ROBERTSON: Much of that question is both hyperbolic and inaccurate.Nicola Willis: Was the Minister aware that the Financial Markets Authority advised the Government that the KiwiSaver tax would reduce KiwiSaver fund balances by $103 billion; and if so why did the Minister of Finance agree to that?Hon GRANT ROBERTSON: As already articulated the questions the member is asking on the detail of the policy are best directed to the Minister of Revenue. What I can say is that on this side of the House we take very seriously the responsibilities we have to support New Zealanders through their retirement. It's the reason for example why we have made contributions to the super fund in contrast to the previous Government who denied New Zealanders $32 billion by not contributing to the super fund.Nicola Willis: If it is in fact the case that the Minister does wish to look after KiwiSaver doesn't he think it would be appropriate as the Minister of Finance that he stay across the detail of the new taxes that his revenue Minister keeps dreaming up?Hon GRANT ROBERTSON: On this side of the House I am very proud of a Government that has managed over the course of the last few years to ensure that we have an economy that is bigger than before COVID that we have a level of debt that is lower than most other countries in the world that has unemployment at 3.3 percent. The Minister of Revenue and other Ministers have all contributed to that positive record for New Zealand.