Mooney JosephJOSEPH MOONEY (National—Southland): Thank you very much Mr Speaker. I rise with great pride to speak on the Reserve Bank of New Zealand (Economic Objective) Amendment Bill. The National Party and the ACT Party campaigned on removing the dual mandate and getting the Reserve Bank focused back on achieving and maintaining stability in the general level of prices over the medium term and that is exactly what this bill does. We are keeping our commitment with our coalition with the New Zealand First Party to deliver on this and I'm proud to do that.Let me just say I am child of the 1980s in New Zealand and I know what inflation does to people at the bottom end who don't have a lot of money. I know what inflation does to employment. I know what inflation does to the price of food. It means that people don't buy it—they don't have the money to buy it. We need to fix inflation in this country to fix this economy to make sure people can have good jobs can build good businesses and put food on the table. That is exactly what this bill is about.Some of the things we have heard from the other side tonight have just blown me away. They're saying that the National Party or the coalition doesn't care about employment doesn't care about people etc. It's complete and utter nonsense. In fact those members might want to just have a look at some interesting comments made by let's say the International Labour Organization. There's someone you'd think the left would probably pay attention to but in the speeches I've heard tonight I don't think so. But let me just for the interest of the House read out a few things that they've said about price stability. They said Severe inflation is reducing the purchasing power of the middle classes and hitting low-income households particularly hard. Income inequality and poverty will rise if the purchasing power of the lowest paid is not maintained. Rising inflation has a greater cost of living impact on low-income workers. This is because they spend most of their disposable income on essential goods and services which generally experience greater price increases than non-essential items. Inflation is also biting into the purchasing power of minimum wages. Accelerating price inflation is quickly eroding the real value of minimum wages in many countries for which data is available."You'd think this is something the left would pay attention to. Inflation affects those who have the least the most and that's what this bill is about. It is about addressing the thief in the pocket of all New Zealanders particularly poor New Zealanders. We are here to solve that. We are here to help the poor; to help the workers. We are here to get this country back on track and create opportunity for them and help them and help their children. That's what this is about.The regulatory impact statements as has been noted by a couple said that perceptions of the effectiveness of monetary policy matter. So perceptions of the effectiveness of monetary policy matter. They said: "Expectations can have a significant impact on inflation outcomes." I'll say it again: "Expectations can have a significant impact on inflation outcomes." That's why getting rid of this dual mandate getting us back to a single mandate is so important. We are fixing any misperception that there may be out there; any expectations that are not set properly that this is what this Government is out to do. We are here to fix inflation; to fix this economy; to make sure people can build good businesses here create good opportunities for employment create good opportunities for people who can develop a mana that they get from jobs put food on the table for their children. And we will not have a return of the 1980s.Can I say a big reason I came to this House back in 2020—I put my hand up to come into this House and to give up my previous life—was because of that experience in the 80s that experience of being a kid who did not have food on my table. This is why we are doing this tonight. We are here to fix the inflation—that will mean the kids of today and tomorrow do not have to experience that. So this is incredibly important. I'm very proud to be a part of a Government that's delivering on what we went to the people of New Zealand to say. We are here to fix the economy. I commend this bill to the House."