5. Question No. 5—FinanceHon AMY ADAMS (National—Selwyn) to the Minister of FinanceQuestion No. 5—Finance5. Hon AMY ADAMS (National—Selwyn) to the Minister of Finance: Is it his view that the current tax take in New Zealand is sufficient; if so does he agree that income tax thresholds should be adjusted over time to keep up with inflation?Hon GRANT ROBERTSON (Minister of Finance): The current tax take in New Zealand is sufficient to run the operating balance before gains and losses surplus which the coalition Government delivered last year is delivering this year and is set to deliver over the forecast period. These surpluses are part of upholding a fiscal position that allows us to make investments in infrastructure and keep debt under control. In response to the second part of the question the Government set up the Tax Working Group to look at the overall balance and fairness of the tax system. We will look at their recommendations in this regard and respond to them in due course.Hon Amy Adams: How does he justify taking $17.7 billion more in tax over the next four years than was predicted at the election when economic growth is slowing rents are up $40 a week and middle New Zealanders are struggling to keep up with rising costs of living?Hon GRANT ROBERTSON: We covered some of this ground before Christmas and leaving aside the difference between forecasts and projections that extra revenue is a result of Kiwis earning more businesses doing better and the economy growing. So it's quite sad that the member opposite is not celebrating this kind of success in the economy.Hon Amy Adams: Given that the Minister entirely failed to reference the impact of inflation on that number how much of that extra tax take comes from the impact of inflation as acknowledged by Treasury and the Reserve Bank?Hon GRANT ROBERTSON: I don't have that number with me but what I can say is that in the period between 2013 and 2017 an additional $17 billion was collected above what was forecast when the previous Government was in office. This is part of a growing economy.Hon Amy Adams: Well will he commit to adjusting tax thresholds to keep pace with inflation to ensure that it's workers not the taxman who get the full benefit of any wage increases?Hon GRANT ROBERTSON: As I said in answer to the primary question we set up the Tax Working Group to get experts to look at the balance and fairness of the tax system and we will respond to their recommendations in due course.Hon Amy Adams: Does he agree with his associate finance Minister who said yesterday that this Government doesn't deserve to be re-elected if it doesn't bring in a capital gains tax or does he prefer the comments that Winston Peters has previously made that it's very clear a capital gains tax is off the table?Rt Hon Winston Peters: I raise a point of order Mr Speaker. That member knows full well that she's quoting from a time in my career when I was not a Minister and therefore she cannot raise it in this House in the way she seeks to do now. She's been around long enough to know those rules.SPEAKER: No I am going to allow the question. I think there's a difference between asking a Minister directly about something they said in Opposition and just mentioning a statement quoting a member.Hon Chris Hipkins: I raise a point of order Mr Speaker. A Minister is not responsible for a comment another member made when they were not a Minister. If that was the case the Government would welcome that because we could then be questioned on some of the comments being made by members opposite.SPEAKER: Yes and members have been asked on a number of occasions if they agree with comments in reports or comments made by people opposite and that has not been ruled out.Hon GRANT ROBERTSON: As I've stated the Government will look at the report of the Tax Working Group and make up our mind as a Government about what position we'll be able to take. People take a number of positions on tax issues over the years. For example members of the Opposition have called the policy that was announced just a few weeks ago by them chewing gum tax cuts" in the past.Hon Amy Adams: So is it his position then that he won't make sure tax thresholds keep pace with inflation; he's more than happy to take $17.7 billion more in tax from New Zealanders and leave them with the threat of a capital gains tax hanging over their heads? Hon GRANT ROBERTSON: No. Hon Amy Adams: Which one of those statements does he not agree with? Hon GRANT ROBERTSON: I already have said the member is confused about the difference between our forecasts and projections around the $17 billion figure. What that is about is the fact that the economy is forecast to grow because people will earn higher wages and businesses will make more money. I just wish the member would celebrate New Zealand's success."