Banks John: Reserve Bank of New Zealand (Amending Primary Function of Bank) Amendment Bill — First Reading 
Text is incorporated into the Bound Volume 
Banks John: Reserve Bank of New Zealand (Amending Primary Function of Bank) Amendment Bill — First Reading 
[Sitting date: 17 October 2012. Volume:684;Page:5946. Text is incorporated into the Bound Volume.] 
Hon JOHN BANKS (Minister for Regulatory Reform) 
: 
 The people of Epsom will be saying “Thank God we voted for Banksie.” The coalition of losers are on that side of the House in Parliament tonight. The “Parachute Man” David Parker has just given his dissertation on the monetary policy we can expect if those rabbits get in charge of the Treasury lettuces. His proposition is that we wind up the printing machines because printing money is the answer. We should wind up the printing machines. And who supports those members? Who are the coalition of losers? There is Winston and his cronies and there are these dudes over here. The old fogies and the young dudes in the Green Party—they are all lining up after this bill the Reserve Bank of New Zealand (Amending Primary Function of Bank) Amendment Bill. 
If that approach worked if it could work Greece would not be in trouble today Spain would not be suffering today Italy would be going—[ 
Interruption 
] 
Mr DEPUTY SPEAKER 
: Order! I do not want to interrupt the member on his feet but we are now in a barrage situation. I just ask members to keep interjections rare and reasonable. That was inappropriate. 
Hon JOHN BANKS 
: At least we have seen— 
Brendan Horan 
: I raise a point of order Mr Speaker. I was just trying to help him with his— 
Mr DEPUTY SPEAKER 
: Order! That is not a point of order. 
Hon JOHN BANKS 
: At least we have one of the coalition of losers getting up on his hind legs in Parliament tonight and proposing a bill— 
Hon David Cunliffe 
: I raise a point of order Mr Speaker. You are well acquainted with the rules requiring members to describe each other by their proper and correct names and parties. I did not question whether the phrase “the honourable John Banks” was an oxymoron and I do not appreciate— 
Mr DEPUTY SPEAKER 
: Order! The member has just destroyed his own point of order and I would ask him to take a seat. Let us have a little decorum. I think the point is that all members are honourable members and sometimes I wonder a little bit about that. Let us prove that that is the case. 
Hon JOHN BANKS 
: Creating wealth takes hard work and diligence. You cannot do it by printing money and this proposition is about printing money. The Reserve Bank faces a fundamental trade-off. It can run the printing presses faster or it can slow them down. We can have an economy that creates investment growth jobs and wealth or we can have the coalition over there which believes that printing money is the answer to New Zealand’s problems and those in the rest of the world. 
The Labour Party spokesman for finance matters the “Parachute Man” who was parachuted into my electorate to take me out and got 500 votes says that he has recently spoken to “Joe Stiligitzy” and now he wants to play God with the economy. He is taking his advice from “Joe Stiligitzy”. “Joe Stiligitzy” would have no idea in the context of the New Zealand economy. 
The old dudes and young fogies in the Greens heard about making money years ago. Their idea of making money is making it up on The Terrace at Treasury. The Green Party believes that the mandarins in Treasury are fruits but they are not fruit loops; the Greens are the fruit loops because they are going to line up behind the bill from the—what is that party—New Zealand First. It would not be “New Zealand First”; it would be “New Zealand Last” if we went with this proposition went up to The Terrace and got Treasury the mandarins up there—not fruit loops the Greens are that—to print more money. It might do something for the dollar but it would not do anything for inflation. It would not do anything for the cost of food it would not do anything for the cost of petrol it would not do anything for the cost of technology and it would not do anything for your farmers Mr Deputy Speaker in the bottom of the South Island except raise the cost on everything they use on their enterprise and on their farm to make money. Higher prices will leave exporters— 
Rt Hon Winston Peters 
: I raise a point of order Mr Speaker. I am delighted—first of all you cannot use the word “your” because that is bringing you into the debate—but I am glad he has got his memory back. 
Mr DEPUTY SPEAKER 
: I am sorry I did not hear the member. I did not hear the point of order but the point about including the Speaker is noted. 
Hon JOHN BANKS 
: What is noted is that the people of Epsom said no to these people—no to these people. They said no to Labour they said no to New Zealand First and they said no to the old fogies and young dudes of the Green Party because the people of Epsom are good judges of character. And they said no to the Labour Party spokesman on finance matters because he wants Treasury to print more money to raise inflation to raise costs and to lower jobs and opportunity for New Zealand. 
ACT believes that a dollar today should be worth a dollar tomorrow. This party the ACT Party believes that a dollar today should be worth a dollar tomorrow. New Zealand First says that a dollar today could be anything tomorrow but this will help the exchange rate. It might do something for the exchange rate. It will do nothing for inflation. It will do nothing for costs. It will do nothing for jobs. It will do nothing for opportunity. It will do nothing for business. It will do nothing for the New Zealand economy. 
Higher prices will leave exporters no better off because consumers will be worse off. I did not have to go to Harvard University to talk to “Joe Stiligitzy”. Did the member get parachuted into Harvard University from the Labour Party aeroplane that it used to parachute him into Epsom? The people of Epsom say his ideas on the economy are wacky like the leader of New Zealand First and like the old fogies and young dudes in the Green Party. Their monetary policy is wacky. That is why the people of Epsom said “Banksie on balance you. We don’t want them.”