Cosgrove Clayton: Budget Measures (Miscellaneous Fiscal Matters) Bill — First Reading Second Reading In CommitteeText is incorporated into the Bound VolumeCosgrove Clayton: Budget Measures (Miscellaneous Fiscal Matters) Bill — First Reading Second Reading In Committee[Sitting date: 15 May 2014. Volume:698;Page:18046. Text is incorporated into the Bound Volume.]Hon CLAYTON COSGROVE (Labour): That was an outstanding contribution from the member for Wairarapa. I think the shorter his speeches the more outstanding they get. The Budget Measures (Miscellaneous Fiscal Matters) Bill is an interesting bill in that it is sort of one of the big hits one of the big platforms for the National Government. I will leave it to my learned colleague Moana Mackey to deal with the climate change issues but I am intrigued by the two other propositions contained within this bill.These include namely the cheque duty which in some sort of spin the National Government promoted as a big sort of tax saving and cost saving hit for the populace. I am assuming that Mr Foss the Minister of Commerce being as he is a Minister who covers all the details and knows everything that is happening in his portfolio would have canvassed the Bankers’ Association and it told him that people now write out on average seven cheques per year and that this would give an absolute net saving of 35c a year—35c a year. I know that Mr Hayes would be astounded by this. You know he would be going back to the people of Wairarapa and going around every outlet that he could. He would be standing outside every bank branch handing out his business card and saying: “I have delivered to you the people of Wairarapa 35c per year. You should be grateful.” If he was standing again they should vote for him again—that is what he would be saying. He will be telling the new candidate to go around and do that. I am sure that he will produce a pamphlet and the pamphlet may well cost more than 35c to produce but he will hand it out saying: “Be grateful. The National Government has provided you with a huge benefit.”—that is 35c a year.Then we come to the great sort of housing policy. I did note that when Mr Foss talked in his address about this wonderful $3500 that he would save New Zealanders onthe construction of their new homes he used the words “might” “could’ and “maybe save it”. He did not tell us how he actually calculated the $3500 saving that would be made in construction costs. He did not tell us that because I suspect there is no analysis. He did not tell us that at all. He said: “It might save three and a half grand. It could save three and a half grand. Maybe if we are lucky and people believe us they might get a few shekels back.” I note that the measures are temporary. They are for only 3 years. It begs the question: has any work been done as to the impact positive or negative in respect of the industry? I suspect not and that is why the Government has put it in for 3 years. If it was sure of itself it would be a permanent disposal.But then you look at the list. You look at things like varnish. I am a bit old-fashioned and I call it shellac and there is plenty of political shellac in this legislation. If you look at the conveyancing cost and perhaps the consenting cost of a new home the $3500 would not cover even that expense. So somehow New Zealanders are going to be so grateful to the National Government for the fact that allegedly they are going to save in building cost $3500 when we know that last month alone the cost of construction in Auckland in 1 month went up in excess of $6000. So this will give people a couple of weeks’ break—temporarily—and then it will be superseded by probably 200 percent or more if those figures are consistent increases month to month and people will save absolutely nothing. So it is smoke and mirrors. It is worse than smoke and mirrors—it is political shellac.So on the one hand if you are out there in cheque-writing land brace yourself because you are going to get 35c a year back and according to the National Government you should be damned well grateful for it—Phil Twyford: Happy days.Hon CLAYTON COSGROVE: —happy days are here again—and if you are a homeowner in Auckland or in other places you might have sat back last night read the paper and said: “This is not too bad. Maybe it is a heat pump or half a heat pump.” You know mum and dad might have sat back and said: “This is not a bad start.” until they realised that a 200 percent increase last month would have left them in negative territory. So I say to Mr Foss that it is not good work; not good detail. I will look forward to the Committee stage when you tell us how you get to $3.5k and what the impact will be in that detailed analysis that you and your department have embarked upon so that you can actually tell New Zealanders and they can be confident that you are telling the absolute detailed truth and you are guaranteeing them $3500 a year in savings.Bill read a second time.