Robertson Grant: Oral Questions — Questions to MinistersText is incorporated into the Bound VolumeRobertson Grant: Oral Questions — Questions to Ministers[Sitting date: 28 May 2015. Volume:705;Page:4113. Text is incorporated into the Bound Volume.]8.GRANT ROBERTSON (Labour—Wellington Central) to the Minister of Finance: Does he stand by all the spending commitments made in Budget 2015?Hon STEVEN JOYCE (Associate Minister of Finance): on behalf of theMinister of Finance: Yes I particularly stand by our commitment not to means test superannuation. I also stand by our commitment to increase benefit payments for families with children by $25 per week the first increase in real terms since 1972. I stand by our commitment to increase health and education spending by $1.7 billion and $680 million respectively over the next 4 years. I thank the member for his question.Grant Robertson: In light of that answer does he stand by the statement in Budget 2014: “The share sale proceeds saw $4.7 billion go to the Future Investment Fund and we said we would spend $1 billion of that on schools and a further $1 billion on health”?Hon STEVEN JOYCE: I cannot recall the exact details—and knowing the member I would like to check them—but I can say that the Future Investment Fund has been of great benefit to New Zealand not just in education and health but in broadband the rail network and in a whole range of things that would not be existing today if we had taken the advice of the other side of the House and not proceeded with the share offers.Grant Robertson: Is it correct that as stated in his media release last week so far $635.6 million in education funding and $684 million in health funding have been allocated from the Future Investment Fund?Hon STEVEN JOYCE: If it is in my press release I am happy to vouch for it.Grant Robertson: Is it further correct as stated by Minister Nathan Guy that $400 million has been allocated from the Future Investment Fund for irrigation of which $120 million has been spent so far?Hon STEVEN JOYCE: The Government has made a commitment to over time invest $400 million if it is required and certainly $120 million has been committed so far. In terms of whether it all comes from the Future Investment Fund that will all be out in the fullness of time.Grant Robertson: Given that page 41 of the Budget Economic and Fiscal Update 2015 states that there is $526 million left in the Future Investment Fund how will he pay for the $680 million required to meet his promises for health and education and the $280 million that he has promised for irrigation from the Future Investment Fund meaning a total shortfall of $424 million?Hon STEVEN JOYCE: I would say to the member that probably equates to the amount that the Government did not make because of the appalling political behaviour by the Opposition during the floating of those companies. But the member shall find out in the fullness of time—there are at least two more Budgets before the next election.Grant Robertson: So which of the following is correct: that he has now promised $424 million more spending from the Future Investment Fund than is actually in the fund or that he will break his promises on funding for health education or irrigation? Which of them is correct Steven?Hon STEVEN JOYCE: What is correct is that once the Future Investment Fund finishes—Grant Robertson: You’ve run out of money.Hon STEVEN JOYCE: Well no actually Grant. The Government will actually continue to have capital expenditure allowances including in Budget 2016 and Budget 2017—and for all we know Grant maybe even in Budget 2018. We will just have to wait and see.