8. Superannuation Fund—Government ContributionsGRANT ROBERTSON (Labour—Wellington Central) to the Minister of FinanceSuperannuation Fund—Government Contributions8. GRANT ROBERTSON (Labour—Wellington Central) to the Minister of Finance: Does he agree with the former Minister of Finance Bill English's statement in regard to the New Zealand Super Fund when surpluses return we will resume contributions"?Hon STEVEN JOYCE (Minister of Finance): I agree with the former finance Minister and current Prime Minister on the subject. The Government has outlined its position many many times over recent years—that we will resume contributions to the Superannuation Fund when core Crown net debt falls below 20 percent of GDP. This is currently expected to occur in 2020-21. I seek leave to table question No. 7 of 18 October 2016 and question No. 3 of 30 November—Mr SPEAKER: Order! I do not need any more assistance. If it has been asked in the House then members can—Hon Member: He asked the same question.Mr SPEAKER: Members are allowed to ask similar questions at any time.Grant Robertson: In light of his predecessor's various statements that the Government would restart Superannuation Fund contributions when the Government reached surplus that it would restart them in 2017 then that it would restart them in 2019 and now that it will restart them in 2021 is it not the truth that he never intends to restart them?Hon STEVEN JOYCE: I feel obliged now to raise those questions from last year that were answered in exactly the same manner as this particular line of questioning today. Question No. 3 on 30 November and question No. 7 on 18 October were both answered in the affirmative—that the Crown intends to resume contributions to the New Zealand Superannuation Fund when core Crown net debt falls below 20 percent of GDP. I have not in the time available had time to go back further but given Mr Robertson's repetitiveness I am sure I could find more questions.Grant Robertson: Has he had any advice on the impact of the Government's failure to restart contributions to the Superannuation Fund on whether the fund will be able to begin paying out in 2032 as planned?Hon STEVEN JOYCE: The member may not be aware that actually the paying out of the Superannuation Fund is set by a legislated formula which was set up by the previous Labour Government that actually has the fund not making contributions to people's superannuation until the middle decades of this century. That will be in the order of a maximum of 10 to 15 percent and the current schedule on that formula means there will not be meaningful repayments from the Superannuation Fund until the mid-2060s.Grant Robertson: I raise a point of order Mr Speaker. You will recall the question asked about advice that the Minister had received on that matter. He waffled on about some other things—Mr SPEAKER: No I heard the question very carefully and listened to the answer and I think that by the end of the answer it was addressed—clearly not to the member's satisfaction but to mine.Grant Robertson: Why does he continue to prioritise tax cuts over restarting contributions to the Superannuation Fund or is he really not that serious about doing actions today that could address the rising cost of superannuation?Hon STEVEN JOYCE: The member seems to be under the illusion that the only worthwhile public expenditure item is putting money into the Superannuation Fund. But actually I know many New Zealanders who might disagree with that approach including families who are struggling and families who are saving to buy a home and who might want more income of their own rather than actually giving it to the likes of Parliament to provide for them. That is a legitimate public debate and I am sure there are many families up and down this country right now who are saying in their minds to Mr Robertson: "We wouldn't mind a little bit more so we can save a bit more for a house and we wouldn't mind a little bit more so we can provide a bit more for our children." and those are the sorts of questions that we will be answering and asking as the year proceeds.Grant Robertson: When he said earlier this week that in politics sometimes you had to do the right thing why is it not the right thing to actually put some effort now into dealing with the cost of superannuation or would he rather just dump that on to future generations?Hon STEVEN JOYCE: With the greatest respect the member's maths is wrong. The simple fact of the matter is that in terms of the Superannuation Fund it does not start to pay out anything meaningful until the middle decades of this century. Under the law—Grant Robertson: It's 2032—you know that.Hon STEVEN JOYCE: 2060s. And there are other legitimate concerns that people have. The member is lining up and saying that he is not interested ever in easing the tax burden on Kiwi families and it is fine for him to say that. Others are entitled to disagree. I personally am very focused on the current needs of New Zealand families."