1. Question No. 1—FinanceDr DUNCAN WEBB (Labour—Christchurch Central) to the Minister of FinanceORAL QUESTIONSQUESTIONS TO MINISTERSQuestion No. 1—Finance1. Dr DUNCAN WEBB (Labour—Christchurch Central) to the Minister of Finance: What recent reports has he seen on the New Zealand economy?Hon GRANT ROBERTSON (Minister of Finance): Tēnā koe Mr Speaker. Tēnā koutou katoa. Last week Stats NZ released data on building work put in place during the June quarter. Stats NZ said that The total volume of building activity remains at historically high levels and the trend has generally been increasing for the past two years." Meanwhile the total value of building work put in place in the June 2019 quarter was $6.2 billion an increase of 11.8 percent on the June quarter a year ago. This Government's investments including the major hospital and school build programmes announced at Budget 2019 and our four-year State house building programme announced at Budget 2018 are providing huge support to New Zealand's building and construction industry.Dr Duncan Webb: What reports has he seen on consumer spending?Hon GRANT ROBERTSON: This morning Stats NZ released electronic card transaction data which showed seasonally adjusted retail card spending rose 1.1 percent in August the highest monthly lift since January. Spending rose across all industries except for fuel which saw a decline. This is great news for retail businesses and demonstrates increased confidence among consumers which was also reflected in the August ANZ Roy Morgan Consumer Confidence survey which lifted.Dr Duncan Webb: What reports has he seen on the international context for the New Zealand economy? Hon GRANT ROBERTSON: Oh well last week Australia in its June—[Interruption] No no. Australia; not the Chinese Communist Party Mr Bridges—that's right. Last week Australia released its June quarter GDP data which rose 0.5 percent over the quarter from March and 1.4 percent over the year—their lowest annual growth rate since 2009. This follows lower than expected June quarter GDP results across a number of other economies including the eurozone at 0.2 percent; Japan at 0.3 percent; and Singapore at 0.1 percent. Given New Zealand's exposure to the global economy we are focused on making sure we are well placed to handle the effects of the global economic volatility that we are seeing. There is no doubt that this will impact on New Zealand but the record investments we are making in infrastructure alongside the $17 billion worth of transport infrastructure announced will stand New Zealand in good stead to withstand these. Hon Simon Bridges: Does his comment about communist China indicate a complacency about the single biggest market that keeps our economy in some ways strong? Hon GRANT ROBERTSON: No it doesn't. What it indicates is that I view the most extraordinary interview I think I've ever seen the leader of a National Party give during which his praise for the Chinese Communist Party went to a level that even the most loyal members of that party would struggle with. We on this side of the House value our relationship with China immensely but I think Mr Bridges needs to take another look at that interview or perhaps buy a different hat."