SpeechRt Hon WINSTON PETERS (Deputy Prime Minister): Mahatma Gandhi once said of the seven sins that they were politics without principle wealth without work pleasure without conscience knowledge without character commerce without morality science without humanity and worship without the sacrifice. When this lockdown started we knew that (1) there would be a massive economic downturn (2) the Government needed to intervene to keep business running and people employed that the Government could spend money to increase economic activity that the Government is not unlimited that the Government needed to rapidly increase employment that the Government could change regulations and legislation to increase economic activity and that this would cost the Government almost nothing. We knew sectors like hospitality and tourism would not recover quickly if at all so there would be a huge number of people needing work in other industries and that this meant training programmes for people needing to transition from one industry to another to simply survive.Before the COVID-19 pandemic the global economy was already in a troubled state. Already struggling with slowing economic growth and a massive accumulation of debt the fundamental factors behind the 2008-2009 recession were never resolved; they were just plastered over and then along came COVID-19. The global economy was only being sustained by unprecedented monetary stimulus quantitative easing which is shorthand for printing money and ultra-low interest rates—rates that were already at bedrock; couldn't go any lower. That catastrophe is not a singular crisis like COVID-19 for which a vaccine may ultimately be found. The COVID-19 crisis is an unprecedented deflationary shock to the entire global economy.Responding to the crisis will lead to huge increases in Budget deficits and our Government debt in New Zealand as everywhere else. All the rules on fiscal prudence are now obsolete and here's the uneven impact. An important decision on the crisis will unevenly impact everybody. Wage and wealth disparity and income insecurity have been growing rapidly as an aspect of globalisation. Widespread discontent was seen in 2019 in countries like Hong Kong Chile and France. This may be spread with uneven consequences of the crisis as we watch internationally right now. A profound crisis calls for society to respond in a cohesive way and New Zealand has shown that capacity under the Prime Minister's leadership.Now that's despite social media appearing to undermine social solidarity because rather than sharing a common experience as we are free to pick and choose content that coincides with our prejudices and opinions—in other words we tend to see what we want to see. And the social media embodies the notion that what is important—what matters—to us as individuals is all that matters. This can undermine a sense of collective or shared reality and in dealing with a crisis such as COVID-19 that sense of sharing a common challenge is vital.The global industrial system is in massive shock. The longer the pandemic prevails the greater the probability that all sorts of unforeseen second-order disruption will kick in as the global economy unravels. The fragility and the vulnerability inherent in the highly interconnected and networked global economy have been revealed. The recent collapse in oil prices is just one example. The downside to the global current economic system has been exposed. Much of the global economy such as the international tourism and aviation sector has been built on assumptions that no longer apply. The economy will not pick up where it started in 2020. The notion of returning to business as usual fades minute by minute every day now as global output collapses and unemployment soars.So into the future with all the uncertainty there is no clear global consensus on what's needed but like everywhere else New Zealand needs to seriously think about its future in the transformed global economy. This is the time for critical perception of the possibilities that the future offers New Zealand.Now New Zealand First is resolved that our future economy will have these features about it because they've learnt something. One: far greater autonomy for New Zealand. In short if we can grow it or make it at near competitive prices then we will grow it or make it use it or export it rather than use valuable offshore funds importing it. The pitfalls of globalism have been laid out dramatically before us and some of us have known that for a long long time and have been saying it. Number two: if the job can be filled by a New Zealander then that job should be filled by a New Zealander trained skilled and paid properly to do it. Three: we need to put up the shutters to more offshore ownership of this country's economy and go back to owning as much of it as we possibly can. If there is to be an overseas investment which is a good thing it must be in terms of the New Zealand economy's needs the New Zealand people's interests and building resilience by means of our—not foreign—ownership. It means overseas investment should be encouraged where it expands our employment our wealth creation and export capacity in a way that is clearly new and not just an offshore takeover or raid of something we already owned before. It means that if you're a banker then the rules that apply to fair sound reasonable and competitive banking offshore will apply to New Zealanders onshore and to your bank onshore New Zealand—not one set for New Zealand and a different set for a place of ownership and domicile somewhere else in the world. And it means that if we are to have a responsible and responsive social welfare system then part of that social pact is that the recipient will do something for the receipt of the State's largesse. In short it's not an alternative not to work but a stopgap before or between work.It means that all New Zealanders need to be productive and if they can in any way help to fund our society then they and we should do that. It means designing welfare that places emphasis on the need for all to contribute to the economy rather than accepting some beneficiaries choosing to take from it and give nothing back in circumstances where they clearly can and they should. And last it means all of us being eyes wide open about the impact of this crisis. Every ounce of our collective effort is going to be required to right here right now—in the short- the medium- and the long-term future—fix it.On public health like every country New Zealand needs to strengthen its public health system. The threat of a global pandemic was always there even if its specific form was unknowable. You know on 24 April the UK Guardian revealed that in 2019 UK Ministers were warned about a pandemic virus and its potential catastrophic social and economic consequences—the Cabinet was warned that even a mild pandemic could be disastrous—and it set out the need for capability to mitigate the risks to the UK and the potential damage of not doing so. That warning was not heeded and the tragedy in their tens of thousands is to be seen today.In short it is all very fine now in this time and this crisis when we are going in our first day to level 3 to look into the future—and trying to forget some of the valuable lessons so clearly before us that we should have learnt over and over again. Our dream and hope and vision is that we have not wasted this moment not to have learnt what we should have learnt and that we'll go forward a clever more smart more responsible people. Last year you know New Zealand was in the grip of the worst measles outbreak in two decades after a cluster of cases occurred in Canterbury in March 2019. It was an example of the need for vigilance and preparedness in the area of public health.Now in 1882 our first export of frozen meat left New Zealand and confirmed that we were going to be then and thereafter an export nation. All our policy should be focused on that as well as import substitution. We're going to go back dare I say it to make New Zealand the great country it has been in the past not because we have some nostalgic dream but because in past times our country got it right. And of late for far too long before this happened as we tried to change our economy we've been getting it wrong. New Zealand has enormous wealth and natural products above ground below ground and at sea and it has as the Prime Minister has referred to a truly amazing people when put to the test.On the question of banking on business rentals and leases I can't put it more clearly than Cameron Bagrie did the other day when he referred to that: if you've got credit and you've got a tenant try and keep that tenant going try and keep that tenant in business. And one last thing can I say Mr Speaker and it's this: we're in level 3 and to everybody that was in level 4 and to everybody that today's on level 3 please honour the rules. Stick to the regime. Think about this: people on level 2 and level 1 and normalcy want to get back to work too. So if you do your job think about them needing to have a job then we'll get through that. We will be stronger together.