Mallard Trevor: International Finance Agreements Amendment Bill — Third Reading 
Text is incorporated into the Bound Volume 
Mallard Trevor: International Finance Agreements Amendment Bill — Third Reading 
[Sitting date: 21 February 2013. Volume:687;Page:8136. Text is incorporated into the Bound Volume.] 
Hon TREVOR MALLARD (Labour—Hutt South) 
: 
 It is—absolutely. I have split with my friends from the Greens and I might say that— 
David Bennett 
: Friends? 
Hon TREVOR MALLARD 
: Well very good friends Mr Bennett and like all good friends we have differences occasionally. That is why we are in different parties as opposed to the National Party where you have sitting next to each other a bright intelligent young man from Tauranga and Aaron Gilmore. Things just could not be more different within the Labour Party. We have a range of views. But it is fair to say that there is a wider range of views and we have discussions and we have differences and one of the differences we have with the Greens is whether or not to vote for this International Finance Agreements Amendment Bill. 
We absolutely agree on the fact that the National Party taking to Ministers something that should be in Parliament is wrong. I think the difference we have is over the other things about this bill which are fairly good. Most of the changes that occurred in the 2008 and 2010 revisions are good things and therefore should be supported. They certainly are good and the Labour Party wants to support them. We have decided to vote for the bill and the Greens have decided to vote against it and there is not that much in it. 
What I want to share with members opposite is that actually it does not make too much difference at all. Whether or not we pass this legislation our obligations are there. This clarifies on the New Zealand statute book the fact of the reflection of the constitution of the IMF but actually even if we did not pass it we would still have to have the changes in arrangements anyway. 
And other interesting things occur. You know with some of these organisations when you are in them you are in them for ever. But it is relatively simple to jump out of the IMF if anyone was ever foolish enough to want to. All you do is stop paying your money. You stop paying your money and you are automatically out. It does not happen that way with the UN as the United States has discovered over many many years. 
So the changes in this bill are generally positive. The fact that it is legislation passing in 2013 is somewhat of an embarrassment. The Australians managed to do the 2008 changes in 2009 and actually managed to get the 2010 changes through in that year. That is possibly an indication that the Australian Government is much more efficient than the New Zealand Government that there is a priority around making sure that the treaties it is involved in are properly aligned. Or maybe it is just as simple as the fact that it does not rely on Bill English to get busy and to get the priorities there. 
The 2010 review is something that was brought forward as a result of the global financial crisis. There is another upcoming review in 2013 and what is happening is that this will mean that there will be three over 5 years instead of one over 8 years. That is a reflection of the changes that are happening in the world the need to update and the change in the balance of power. [ 
Bell rung 
] Can I have an indication? Was that a 1-minute bell? Thank you. 
There have been as members know quite a few previous amendments to this legislation which originally came in—sponsored we think by Harry Lake—in 1961. There have been a series of amendments since that time. The major part of the amendments here the principal part as opposed to the emergency part was in fact part of a package that Michael Cullen was involved in negotiating. That is the 2008 set of arrangements. We all know that he clearly works in New Zealand’s interests. I think it is probably fair to say that his knighthood did not quite come for the work that he did in relation to the IMF but he is a person of integrity who has recommended this. We are therefore very happy to support it.