Barry Maggie: Reserve Bank of New Zealand (Amending Primary Function of Bank) Amendment Bill (No 2) — First ReadingText is incorporated into the Bound VolumeBarry Maggie: Reserve Bank of New Zealand (Amending Primary Function of Bank) Amendment Bill (No 2) — First Reading[Sitting date: 13 November 2013. Volume:694;Page:14678. Text is incorporated into the Bound Volume.]MAGGIE BARRY (National—North Shore): I rise to speak to the Reserve Bank of New Zealand (Amending Primary Function of Bank) Amendment Bill (No 2). The member’s bill is in the name of New Zealand First leader Winston Peters and it is set down for its first reading.Well guess what? I am a fan of recycling but the member takes it too far—too far. Once again it is his old hobby horse. We have seen it emerge years ago. Let us just get the Reserve Bank turn it on its ear add on a whole lot of extra tasks have someone elseto blame and have a lot of Trojan horses around it—again the New Zealand public as they have many times before are not about to be taken in by these show pony antics.This economy under the careful stewardship of our Minister of Finance Bill English is in safe hands. To even acknowledge that there are any points of value in this bill would be to negate the great work that is being done at the moment. We have under this administration wages growing. Cost of living increases have been modest. Interest rates are at 50-year highs. These are not to be denied even by the great detractor himself. Getting on with the job and building a stronger economy is where New Zealand needs to be. We need to have safe stewardship and sensible ideas and notions.This is all stuff and nonsense. There is not too much stuff in the bill actually because it lacks substance much like the member who proposes it. When I look at what I have here it takes us back 20 or 30 years. The member who spoke earlier is entirely right. These are failed old policies of the past. They will not work and cannot be countenanced.New Zealand is doing better than so many other countries. This is the kind of divisive measure and foolishness really—I mean we had the Reserve Bank Governor in this morning. We were talking at the Finance and Expenditure Committee about what is going on with the economy and the Reserve Bank talked to us about the things that it feels are going well. To broaden out its mandate in the way that this bill is seeking to do is abject foolishness. It will not work it cannot work it has not worked in the past and it will not work again.This member has been bellowing at others over the course of the last few hours saying that they do not get to the point and do not address it. Of course we saw a stunning example of that in the member’s own call on the Kaipara District Council legislation which had nothing whatsoever to do with the bill. I will take my leave from that member briefly and concentrate on the good things that we are doing with this economy.We are taking New Zealand forward by building a more competitive economy based on higher savings less debt and much healthier Government finances. We are not about the borrow-and-boom bust the nonsense and the failed measures of Labour—9 long years. Where is the parrot? Where is he? No he is not there at the moment. Nine long years of a Labour Government and where did it get us? A very bad financial situation.The borrowing the nonsense and the failed policies of Labour have come together perfectly actually under this bill. I am not surprised that Labour supports it because it is the same nonsense. Next we will have the Greens standing up and talking about printing money because that is actually what they would rather be doing rather than having strong fiscal management and having to be disciplined and restrained around spending. Frankly what is it—$8 billion minimum that Treasury has been trying to cost out? Some of the bribes—oh I mean the arrangements—that Labour would have to come to if it got into bed with the Greens such as the ridiculous notion that it is going to stop Transmission Gully. One of those members over there wants to get on her bike and stop everybody travelling out of Wellington in a safe and timely fashion—Rt Hon Winston Peters: Ah Mr Deputy Speaker?Mr DEPUTY SPEAKER: Sorry is this a point of order?Rt Hon Winston Peters: Yes. It is to do with the rules—Mr DEPUTY SPEAKER: Order!Rt Hon Winston Peters: I raise a point of order Mr Speaker. [Interruption]Mr DEPUTY SPEAKER: Order! Points of order will be heard in silence.Rt Hon Winston Peters: Precisely. Thank you Mr Deputy Speaker. There is a requirement that the issue of debate be relevant and there is no way that this last little diatribe remotely refers to the bill. We have heard about the Greens—Mr DEPUTY SPEAKER: Order! Order! That is not a point of order. The member was debating. The member who raised the point of order may not be happy but the member should not interrupt a speaker.Louise Upston: Point of order Mr Speaker.Mr DEPUTY SPEAKER: I have already ruled on it. The point of order was out of order. Maggie Barry you have just over a minute.MAGGIE BARRY: When we look at what is happening with the federal bank in Australia—let us look at how we compare internationally. The Reserve Bank monetary policy frameworks around the world amount to inflation targeting. This is what our Reserve Bank needs to concentrate on. This is what needs to happen if we are to continue to succeed as a nation.I would not commend this bill to the House in any way shape or form. No word or policy in it is new workable or viable. It is doomed to fail. It is absolutely an abject piece of nonsense. It is with great pleasure that I have spoken to kick it into touch because that is what it deserves. It is arrant nonsense to quote someone from the other side of the benches. I think that much like the member itself its time has not come it is not relevant and it will not add anything at all to our country. That is why I do not commend it or recommend it in any way shape or form to the House. Thank you.