2. Question No. 2—Prime MinisterHon SIMON BRIDGES (Leader of the Opposition) to the Prime MinisterQuestion No. 2—Prime Minister2. Hon SIMON BRIDGES (Leader of the Opposition) to the Prime Minister: Does she stand by all her Government's statements and actions?Rt Hon WINSTON PETERS (Deputy Prime Minister) on behalf of the Prime Minister: Yes.Hon Simon Bridges: Why is her Government now in deficit?Rt Hon WINSTON PETERS: The Government is not in deficit. What the Government is doing is what most smart business people out there and commentators are saying: we are putting necessary injections into long-neglected investment in this country and it is being saluted all around the country. Dare I say it if you want to talk about economic indicators for anybody who knows anything about business the NZX 50 is at its highest since its formation—up this year 28 percent. That's a real confidence indicator.Hon Simon Bridges: Does she accept that lower economic growth and wasteful spending are the primary reasons why New Zealand will shortly be back in deficit?Rt Hon WINSTON PETERS: The Prime Minister accepts the first part of that premise because that was the last Government's history and story totally and its narrative. The second half is a Government that's got debt under control—got it under control—in two years flat under 20 percent and ensured we had massive investment in hospitals in schools and in all sorts of necessary facilities. To be criticised by a party that did nothing but try and continue from Opposition its neo-liberal stupidity is really a bit rich.Hon Grant Robertson: Can the Prime Minister confirm that forecasts from Treasury the OECD and the IMF indicate that New Zealand's growth in 2019 2020 and 2021 will be faster than Australia the UK Canada Japan and the eurozone?SPEAKER: Order! Order! There were actually nine questions there. The Prime Minister may answer one of them.Rt Hon WINSTON PETERS: Answering the theme behind those questions the answer nine times is: yes yes yes yes yes and yes and yes.Hon Simon Bridges: Is she embarrassed that after inheriting surpluses that were forecast for at least another 15 years by Treasury her Government has turned that into a deficit within just two and a bit years?Rt Hon WINSTON PETERS: On behalf of the Prime Minister when one is making as a Government wise investments then pride is what it's about not embarrassment. But here's the real point: out around New Zealand from Kaitāia to Invercargill are all sorts of people previously forgotten previously what you might call blue-collar hard-batting New Zealanders who have never had a voice until late 2017. They got one in this coalition Government. Being bitter and angry at the outcome that sees them over there and every day barking at everything that goes past the front gate is not what a wise Opposition should be doing.Hon Simon Bridges: Can she confirm that growth has decreased from 3.5 percent in 2017 to just 2.1 percent now and that means less tax revenue and yet more spending?Rt Hon WINSTON PETERS: On behalf of the Prime Minister anyone who knew the first principle of Government—or finance for that matter—would know that taxation is not down; it's actually up. That's why we had a surplus of $7.5 billion. For goodness' sake would somebody over there give that novice some lessons.Hon Simon Bridges: How is 3.5 percent growth to 2.1 percent growth up?Rt Hon WINSTON PETERS: On behalf of the Prime Minister all over the world and as forecast by one of her leading Ministers there has been a correction internationally. But here's the point: whether it's Japan the European Union or the UK or Australia this country is doing better than them all. That means we've got sound responsible management. All over New Zealanders those people that are watching this programme are so glad that that member asked that question because it points out just what little he knows about the economy.Hon Simon Bridges: Does she accept that by running a deficit she breaks the promise she made to stay in surplus unless New Zealand is in a crisis?Rt Hon WINSTON PETERS: On behalf of the Prime Minister the first thing the Prime Minister and her Minister of Finance demonstrated over two years was we got the level of debt down way below what we inherited and we got it down in lightning time. But having done that and looked at all the neglect whether it was railways roads bridges hospitals schools or for example right now operating out of White Island our Defence Force—all those utilities were utterly neglected and we had to deal to them—Hon Gerry Brownlee: Not true.Rt Hon WINSTON PETERS: —and provide them with the funding—it is true. Could I just say for example we inherited a $20 billion forecast with respect to Defence and not one dollar assigned to it. All of a sudden the Australians and the Americans are saying On these matters New Zealand is stepping up and thank heavens for that."Hon Simon Bridges: Does she then believe we are in a crisis justifying the running of a deficit?Rt Hon WINSTON PETERS: On behalf of the Prime Minister how you can go—Hon Simon Bridges: Well that's what she said.Rt Hon WINSTON PETERS: Well actually she didn't say that at all. The Prime Minister's not renowned for saying stupid things; that member is. Can I just say she said no such thing. What she said is changing circumstances require us to have a fresh look at where we could make the best investment now in terms of our economic and social futures. That's why right now and rising 60 percent of the people in this country support this coalition Government. Guess what percentage that leaves for them?Hon James Shaw: Is it true that some New Zealanders borrow money to invest in buying a home and that some businesses also borrow money to invest in growth in the future and that those debts are frequently more than 20 percent of their turnover?SPEAKER: Order! The member knows that that's too long. Again it's nearly Christmas so I'll let the acting Prime Minister have a go.Rt Hon WINSTON PETERS: The reality is that's a question from somebody who knows something about business. He's put it precisely. It is safe and it's secure and it's well within trustee security bounds. But no no—someone over here who's never run their school tuck shop gets up here as the party of business demonstrating every day the old English adage: the malady of the ignorant is to be ignorant without knowing it.David Seymour: Does the Prime Minister stand by the Government's action of attempting to buy back firearms prohibited by Parliament in April?Rt Hon WINSTON PETERS: There is a forward programme out there at the moment for discussion with everybody in New Zealand including those who own firearms. When that discussion paper has concluded and the policy is finally resolved we'll have an answer to that. In the meantime to rush to the national rifle authority's defence so to speak when the member's never even held a BB gun is a bit rich.SPEAKER: Order! A reminder: Prime Minister's voice. I don't think so in that case.David Seymour: I raise a point of order Mr Speaker. The question clearly related to the Government's policy of buying back firearms prohibited by the arms amendment Act in April. I didn't hear the Prime Minister remotely address that. He referred to I think actually the second tranche of legislation which is completely different. Can he please address the question.SPEAKER: No I think it was addressed early on.David Seymour: What percentage of firearms prohibited in April does he believe will be bought back by the Government as part of its buy-back policy ending on Friday 20 December?Rt Hon WINSTON PETERS: On behalf of the Prime Minister some of this Cabinet's Ministers are renowned for their ability to forecast the future but in this case no one knows and we won't know until that time comes.Hon Simon Bridges: Does she accept contrary to the buying a house on mortgage example of the Hon James Shaw that the majority of the increased debt her Government in chalking up over the next five years won't be for infrastructure given her Government's borrowing $35 billion and the infrastructure package is only $12 billion?SPEAKER: I think we're getting worse every question.Rt Hon Winston Peters: I couldn't agree more Mr Speaker.SPEAKER: No no no—I mean technically not quality and I don't need comments on my rulings which I probably shouldn't have made anyway.Rt Hon WINSTON PETERS: Well I apologise for that. But can I just give one example. When we became the Government there was sewage coming out of the walls in Middlemore Hospital. [Interruption]SPEAKER: Order!Rt Hon WINSTON PETERS: Now it's Christmas time and I can't say they're talking "something" but the reality is those examples of neglect were legend in this country and had to be addressed so there is balance both with respect to consumption and to productivity and wealth growth and exports in this latest round of investments.Hon Grant Robertson: In light of that last supplementary question can the Prime Minister confirm that net core Crown debt across the forecast period is lower as a percentage term in every year than it was in what the Government inherited?Rt Hon WINSTON PETERS: On behalf of the Prime Minister anyone that knows about business would know that.Hon Simon Bridges: Of the borrowing of $35 billion over the next five years is only $12 billion of that for infrastructure?Rt Hon WINSTON PETERS: Well actually on behalf of the Prime Minister now you've even got me flummoxed.Hon Simon Bridges: Of the $35 billion additional borrowing over the next five years is only $12 billion of that going in infrastructure?Rt Hon WINSTON PETERS: On behalf of the Prime Minister and dare I say it my colleagues over here we've got no idea what the member's talking about.Hon Grant Robertson: Can the Prime Minister confirm that the Budget Policy Statement released last week shows that $50 billion worth of capital spending will happen over the next five years?Rt Hon WINSTON PETERS: On behalf of the Prime Minister most definitely.Hon Simon Bridges: Why is she breaking her promise to keep borrowing at under 20 percent of GDP by 2022?Rt Hon WINSTON PETERS: The Prime Minister made it very clear through her Minister of Finance why there was a need to take the steps that we are taking. It was very definitively laid out. Nearly every business commentator and business expert including all the banks have recognised the wisdom of this policy which probably explains why he can't get it."