Robertson Grant: Oral Questions — Questions to MinistersText is incorporated into the Bound VolumeRobertson Grant: Oral Questions — Questions to Ministers[Sitting date: 15 September 2015. Volume:708;Page:6586. Text is incorporated into the Bound Volume.]4.GRANT ROBERTSON (Labour—Wellington Central) to the Minister of Finance: Does he agree with the forecast of the Reserve Bank that unemployment will rise to 6.1 percent by March next year; if so what new action if any will he take to avoid this happening?Hon BILL ENGLISH (Minister of Finance): The Reserve Bank is independent. It is not a matter of whether I agree or disagree with its forecasts; those are its forecasts. By way of example of the Government’s action to improve employment today we released an update of the export markets work stream of the Business Growth Agenda the latest step in a programme of reform designed to support businesses to invest another dollar and hire another person and to back that up with confidence in the stability and credibility of the Government’s leadership on the economy. The effects of this have been to see 69000 more jobs in the last year and the average wage now $10000 higher than in 2008.Grant Robertson: Does he still stand by his statement in the Budget that unemployment will fall below 5 percent in 2016?Hon BILL ENGLISH: That now looks unlikely because the economy is a bit softer since then mainly because of the substantial drop in the terms of trade so it would not make sense to stand by forecasts that were made in different circumstances.Grant Robertson: In light of that answer then is it acceptable to him that there are now 13000 more people unemployed than in September last year when he was re-elected?Hon BILL ENGLISH: Of course it is undesirable—there is no doubt about that. The Government starting 4 years ago on welfare reform and following through to the investment approach we are now applying has probably a more sophisticated approach to the non-working population and Government support for it than any previous New Zealand Government. The member could do well to study that policy because it is a worthwhile one for the Labour Party to adopt.Grant Robertson: Is he comfortable that under the Reserve Bank scenario more than 150000 people will be unemployed and is this not a sign that he should adopt some new policies to deal with this?Hon BILL ENGLISH: Of course we are uncomfortable with people being unemployed. It happens that New Zealandof all developed countries has one of the highest proportions of its working-age population available for work and in work. So we have proven to have very good job-producing capacity but of course we do not think that that is enough. That is why for instance we are refreshing the Business Growth Agenda which is an ongoing iterative process with the business community to build its confidence in investing in new jobs.Grant Robertson: Sois the summary of his answers today that he has no new plans to do anything to see unemployment get down to levels that he promised New Zealanders they would have?Hon BILL ENGLISH: No and I think the member would agree that that is a fairly lazy summary. In fact some new plans have been issued today by the Minister for Economic Development on top of any number of others issued in just the last couple of months.