5. Question No. 5—FinanceNICOLA WILLIS (Deputy Leader—National) to the Minister of FinanceQuestion No. 5—Finance5. NICOLA WILLIS (Deputy Leader—National) to the Minister of Finance: Does he agree with Westpac economist Michael Gordon's view that Many households are already feeling the pinch on their finances and that pressure will become more intense over the next few years"; if so will he commit to tax relief in tomorrow's Budget?Hon GRANT ROBERTSON (Minister of Finance): As I've said a number of times in this House the Government is very aware of the impact that the global energy crisis supply disruptions and the ongoing pandemic are having on households particularly on those that are most vulnerable to increases in food and petrol prices. It's the reason why we've acted to support low and middle income New Zealanders through cuts to fuel prices halving the cost of public transport increases to income support including family tax credit changes childcare assistance student allowances and main benefits as well as lifting the minimum wage. In answer to the second part of the question there is only one more sleep until the Budget—Chris Bishop: Aww!Hon GRANT ROBERTSON: —well perhaps two if we count Mr Bishop's nap!—and I won't be revealing any details of it today. What I can say though is that I agree with what the IMF indicated that it's not the time for major tax changes following a one-in-100-year economic shock. What it is the time for is a balanced approach that makes sure that our spending is carefully prioritised with a focus on big long-term issues such as heath and climate change.Nicola Willis: Does he agree with BNZ economist Stephen Toplis who said "Our central forecast currently is that New Zealand's growth stalls completely in 2023. The danger is that the wheels well and truly fall off" and should New Zealanders be braced for more tough times ahead under Labour? Hon GRANT ROBERTSON: I am certainly not going to go into the detail of the economic forecasts that are in tomorrow's Budget but what I would refer the member to is the answer I gave to question No. 1 today where the International Monetary Fund—having done a thorough review independently of the New Zealand economy—said that New Zealand was in a strong position as a result of the successful management of the pandemic with strong health and economic policies supporting a quick recovery from lockdowns that our debt sustainability remains robust and that there is substantial headroom to respond to any other challenges.Nicola Willis: Does he agree with economist Cameron Bagrie who wrote: "You cannot spend and print money as a way to economic prosperity and wealth creation; you need to have some substance" and does the Minister have any regrets about choosing this moment in the economic cycle to launch a record spend-up?Hon GRANT ROBERTSON: On this side of the House I will never have a regret about properly funding our health system so that New Zealanders have the health services they need and deserve wherever they live; I will never regret making sure that we reduce decades of inequities for Māori and Pacific health outcomes; and I will never regret coming to this House to make sure that the National Party never get their hands on the health system again.Nicola Willis: Does he agree with Professor Francis Collins who says of New Zealand's economic prospects: "even if people have reasonable jobs they are going to struggle and they're going to struggle to see decent economic opportunities for their family" and does the Minister understand that New Zealanders will judge his Budget not by what it announces but by what is actually delivered? Hon GRANT ROBERTSON: What has been delivered is annual average growth over 5 percent. Unemployment at 3.2 percent—a record low. Wages growing at over 4 percent. On this side of the House we will continue to strike a careful balance: keeping a lid on debt making sure we invest in the here and now and addressing long-term issues like health and climate change.Nicola Willis: Well does he agree with Professor Collins who said "We're likely to see higher emigration in the next few years and we're likely to do so because of this confluence of high house prices high interest rates higher cost of living" and can the Minister confirm that one of the major deliverables of tomorrow's Budget will be an acceleration in the New Zealand brain drain?Hon GRANT ROBERTSON: What I can confirm is that tomorrow's Budget will continue the record of this Government of getting a careful balance in investing in the things that make sure New Zealanders have decent hospitals; that their kids go to decent schools; that we actually build State houses not sell them; and that we make sure that we support businesses just like we did through COVID to seize the opportunities of the future. I'm looking forward to the Budget tomorrow. Hon Stuart Nash: Does the Minister agree with American investor Warren Buffett who noted at Berkshire Hathaway's AGM this year that the role of Government in the pandemic was to protect jobs and the economy?Hon GRANT ROBERTSON: I wouldn't always agree with Mr Buffett but on this particular matter I certainly do and I am very proud of the fact that this Government stood alongside New Zealand businesses households and workers—supported them through COVID-19. That is the same thing we will do now to make sure that we meet the challenges and take the opportunities of the future."