SpeechHon DAVID BENNETT (National): Thank you Madam Speaker. Well tonight's debate will show you the true colours of the Labour Party and their members and their desire to really knock out of any New Zealander the aspiration to do well to build a business to actually get out there and do anything. Because they tell you time and time again—and in these speeches they're very confident around it saying We actually have a duty to do this as Labour Party members. Our duty is to make sure that anybody that makes any money in this country has to pay it so that we can distribute it to other people." That's their fundamental belief and it is contrary to what human nature is it is contrary to what the country has been built on and it's contrary to what good economic policy is built on.Hon Damien O'Connor: That's bullshit.Hon DAVID BENNETT: Now Mr O'Connor may say "rubbish" there but you know he's all the time saying that we need to trade with the world we need to be in the business area and yet he's cutting out this very business that people are in of providing housing for other people. And he can't explain that. And Mr Nash who's sitting beside him is another reasonable member of the Labour Party. I remember Mr Nash saying that we should tax just income and not actually have any expenses that can be deductible at one stage. He soon backtracked from that.That was the same theory that we're seeing here tonight: they are only wanting to tax income and not the expenses that people have in that business. And it is not that they are doing some God's work that they are saving people and that they are providing some great country that will provide freedom and a free lifestyle for everybody. It is doing exactly the opposite. It is hurting those very people that actually need a hand in this country who don't want a skewed system around the business of owning homes. And that is what we are doing here. We're skewing it completely differently from any other business. So those that go into the homeownership business you can say of providing rentals for somebody that can't get there themselves have now a different model from any other business. And so they have to earn more income. They have to charge more rent. It's the only way they can do it. That then puts the cost of living up puts inflation up and the very people Labour say they're there for are the very people that get hurt. It is the traditional Labour Party economic policy that's failed for generations and it will always fail.Dr Duncan Webb: Oh look at the bigger—Hon DAVID BENNETT: And that member from over the other side from Christchurch—he was very confident in his speech saying "This is our God-given right to do this. We need to do this. This is our job. We need a progressive tax system like this." That's his words. They are a failure waiting to happen.And if you want to look at it what's happened to housing prices in New Zealand in the last year? Twenty-five percent increase in house prices. If it's such a great policy why hasn't that stopped? Why is first-home ownership still dropping as it has around the world and it will continue to do because it gets harder and harder to do that? This policy won't stop that. This policy is just for the ego of the Labour Party and it will not actually help the very people that need assistance. This is lawmaking at its worst. It is bad policy being enacted by a bad Government. It will not achieve their purpose. What's worse about it is that they present it in a way that it is there for the interests of those people in most need when it will do exactly the opposite. It creates a system that will then mean more costs on those people that are renting that then will reduce their ability to get into homeownership and keep them in that cycle of renting for ever and a day. It is stupidity of the highest level but it is Labour Party policy and we expect that from them. And that's why you've got an economy that's out of control at the moment. They've got inflation they can't control. All those things come from—Dr Duncan Webb: Low unemployment. High GDP.Hon DAVID BENNETT: Low unemployment that's what he's saying. Low unemployment that's the answer! There's low unemployment. But we've got inflation going out of control—if you can't get ahead then that is not the answer. It's about low unemployment! The reality is that their economic policies have failed. We're seeing it coming home to roost now. This bill is another example of how they will continue to fail and achieve the wrong purpose. Thank you Madam Speaker.ASSISTANT SPEAKER (Hon Jacqui Dean): Making a remote contribution I call Anna Lorck—five minutes."