Ngaro AlfredALFRED NGARO (National): I rise to take a call on new Part 3. This morning we heard wailing and the gnashing of teeth. In fact Annette King got up and she pleaded: Where is the regulatory impact statement for Part 2 of the bill?". She said that the democratic process means there should be a regulatory impact statement. We now are on new Part 3 and I do not see any regulatory impact statement for new Part 3 but that is OK. That is OK. Help is on its way. I have actually started to write a regulatory impact statement myself just to support and help the member over here. I realise that this was scribbled up at last minute and put together to try to prolong this process as well. Here is the thing on this regulatory impact statement that I have managed to put together which I think could be of use to new Part 3—the proposition that is here. I have to give a historical analysis of this as part of a regulatory impact statement and this goes back to 2014. For those who can remember the election manifesto talked about housing and what did it talk about? Well the first thing it talked about was the KiwiBuild scheme. It talked about 100000 houses. It talked about over 10 years that it would take to build that. It talked about approximately $2 billion. But then we heard the Hon David Parker and what did he say? He said that actually that was not achievable. He said: "In fact we wouldn't do 10000. We would do 4000. In fact in the second year we'd do less than that—possibly 2000." My regulatory impact statement says that there is a risk here. There is a risk in this new Part 3 if it was to take place. The second thing that I think is really important in this regulatory impact statement is that coupled with the KiwiBuild scheme was the capital gains tax. Those who can remember—Hon Member: Ah!ALFRED NGARO: That is right—those members went out and said that that was important. We hear the words about speculation and speculators but my regulatory impact statement says this: that coupled with that if they included in the 2014 manifesto the importance around the capital gains tax—we know that that was not popular. In fact it was so unpopular that Labour had the worst election result that it has had in a series of years. So what has it done? It has taken that out. It has taken that away. It has minimised the risk to the KiwiBuild scheme. [Interruption] That is right. There is the silence of the lambs at the moment on the other side because they know this is true. They know that this is true. My regulatory impact statement is actually stating that we cannot afford that and in fact that will not be good enough as it is. As we can see in here the report says 10000 affordable houses but in the regulatory impact statement that I have now there is another risk that has emerged. Although there is a prenuptial agreement between Labour and the Greens New Zealand First is now jumping in. Denis O'Rourke this morning said: "It's not good enough to build 10000 houses per year. We are going to build 20000 houses." That is how ridiculous it is because now Denis wants to join in. He wants to have a prenuptial to join into this three-way partnership to say we could just build houses. The Minister himself said this: "You can't just throw out figures and think that that will resolve the issue around the housing affordability around more housing. You have to have a comprehensive plan." Do not worry help is on its way. I need to reiterate that in my regulatory impact report there is significant development that is happening at the moment. For instance apparently under this term of Government 85000 new homes will be built. That is right. Not 100000 in 10 years no—85000 new homes and 40 homes per day in Auckland alone. We know that in 2008 when this Government came into play it was around 10 homes per day in a working day up in Auckland. It is now at 40. There were 2000 homes built on Crown land and the significance of that is quite important. Although we are talking about Part 3 we are talking about 10000 homes. My regulatory impact report says that actually there is help on its way. In fact it is here already and it coming through a National-led Government. Fifteen thousand people have now experienced—that means they have been able to take the HomeStart package where what they get has been increased to $20000 to ensure that they can actually have a deposit on a house as well. Two thousand homes have been redeveloped on Housing New Zealand land. There are 42000 apprenticeships because we know that it is not just about as new Part 3 says having a figure to build homes. You need to first of all look at the construction. You need to look at land supply and that is particularly what this bill is looking at: land supply. In ensuring that we rezone the land we ensure that we fast track the consenting process. To ensure that is really important. I have real concerns about new Part 3 and its achievability to meet its goal. We think that we are making a difference. The last thing I want to say is that in the construction industry we see another 40000 that have been added—this is making a difference. This is the Kiwi Dream not for the future not for 2017—this is the "KiwiBuild" scheme that is happening right now here in New Zealand. We know it is making a difference."