Sharples Pita: Debate on Crown Entities Public Organisations  and State Enterprises — In Committee 
Sharples Pita: Debate on Crown Entities Public Organisations  and State Enterprises — In Committee 
[Volume:631;Page:3046] 
Dr PITA SHARPLES (Co-Leader—Maori Party) 
: 
 The commitment that the Governor of the Reserve Bank Dr Alan Bollard makes to New Zealanders in his 2004-05 annual report is that as New Zealand’s central bank the Reserve Bank will do everything in its power to build national and international confidence by promoting the maintenance of a sound and efficient financial system. Yet yesterday a survey by Bloomberg News found that the New Zealand dollar has just been named the worst performer out of 16 major currencies. ANZ National Bank chief economist Cameron Bagrie adds further gloom to doom by stating that people were finding investment opportunities elsewhere and by forecasting the New Zealand dollar would hit below US50c in 2007. 
So let us add it up: the Reserve Bank wants to promote a sound and efficient financial system; the New Zealand dollar has been named the worst performer; and to top it all off the UMR Insight research omnibus survey has identified that the unfavourable rating for the Reserve Bank has increased to 14 percent and 38 percent of all who were surveyed were unsure about or had never heard of the Reserve Bank. One of the key reasons given for the unfavourable stakes was “thinking that the Reserve Bank is out of touch with the people and a general dislike for the policies”. In plain numbers the majority—52 percent—of those surveyed either had never heard of the bank or gave it an unfavourable rating. It is a bit like if we do not know where we are going any road will get us there. As the Government draws up the road map for the Reserve Bank this is an indication that it has lost its economic way. 
One of the comments that absolutely struck home from the UMR Insight survey was the following comment describing the Reserve Bank as being out of touch with the people because it is “concerned only with inflation much too narrow concerned with GDP should be concerned with quality of life should go and measure qualitative rather than quantity.” These are serious issues. They are issues of major concern to all members of this House. What is more they are issues of absolute priority to all people of this nation. As if it could not get any worse in the Reserve Bank’s annual report under “Change with the times” the Reserve Bank states it will “strive to inspire public confidence” yet there is nothing in that report that goes anywhere near responding to the criticism described in the UMR Insight research. 
We are at a critical turning point. We can choose whether to fail or to survive in measuring the economic accomplishment of the nation. The Maori Party is here to tell the nation that GDP will never be enough in making positive advancement as a nation—advancement that is comprehensive sustainable and inclusive. All that GDP has ever intended to do and can do is to report on activity not progress. The Maori Party is committed to a new ideal the genuine progress index which is an innovative new way of sustaining all aspects of our wealth—human and other—through investment. If the Reserve Bank really wants to change with the times it needs to rethink development and prove that economists can be in touch with reality. 
Basically the genuine progress index tracks all flows of income that are not in the cash economy—the widest range of measures that affect the health of the economy. The genuine progress index offers us an exciting alternative to account for the whole value of human social and natural capital alongside standard measures. With the conventional measurement of GDP the assumption is always that more is better. With the genuine progress index we realise the assessment is always value-based and indeed as in the case of pollution ill health crime and clear-felled forests it may be that less is best. 
Tangata whenua have always understood that social economic and environmental prosperity is inextricably linked. In caring for the health of our environment as well as caring for our physical and spiritual health we can achieve an indicator of net advancement and progress—an indicator that expresses the values of Aotearoa including kaupapa Maori and an indicator that is based on the concept that if we preserve and protect our social and environmental assets we will ensure a rich legacy is left for our descendants. 
Our history and our language of communication is embellished with constant reference to sustainable development. The proverb 
 “Toitu te marae a Tane toitu te marae a Tangaroa toitu te iwi.” [ 
As long as the realms of Tane and Tangaroa remain so will the people 
.] emphasises the interdependence people have with natural resources to ensure well-being. Long-term prosperity is dependent on the land and all natural things the protection of the realm of the seas and oceans and the strengthening of the people. The Maori Party will put on record its commitment to measuring quality along with quantity to strive for a quality of life that is good for the economy and to measure real and genuine progress. Not to do so would be to perpetuate financial insecurity a deteriorating environment rising crime and sentencing rates increasing poverty and continuing inequalities. 
Hon Dr Michael Cullen 
: I raise a point of order Madam Chairperson. I am sorry to interrupt the member but this is quite an important point in a debate of this sort. Because it is a time-limited debate the time allocated is proportional to the size of parties. My understanding is that the Maori Party is entitled to only one 5-minute call in the debate so if the member continues to have an additional call he is in fact taking time allocated to another party and subtracting from that party’s entitlement. This is not an open-ended debate where the member can take further calls in that regard. I am sorry to interrupt the member but that is actually quite an important point. 
Dr PITA SHARPLES 
: That is fine. Thank you Madam Chairperson.