Bayly Andrew: Annual Review Debate — In CommitteeText is incorporated into the Bound VolumeBayly Andrew: Annual Review Debate — In Committee[Sitting date: 28 April 2015. Volume:704;Page:2944. Text is incorporated into the Bound Volume.]ANDREW BAYLY (National—Hunua):At the recent briefing by the Reserve Bank Governor at the Finance and Expenditure Committee I asked him how often he got the opportunity to stand and talk about what a wonderful set of economic parameters that he had to talk to us about. So I find it funny that some of the Opposition members are talking about all these figures it makes me realise that maybe they did not understand what he was actually saying.If you sit and actually listen to him GDP is at 3.3 percent. We are one of the strongest-growing economies in the OECD and that rate is actually the highest since 2007. Our net debt is at 27 percent of GDP and is forecast to go to 20 percent by 2021. Our unemployment rate is at 5.7 percent. Again it is decreasing and projected to decrease over time. We have got a current account deficit at just over 3 percent—again that is very reasonable when you consider us and compare us with other international economies.This is an economy that is recognised as one of the fastest growing in the developed world and the success of this has been borne out in the exchange rate for the New Zealand dollar. We are now seeing the dollar touching parity with the Australian dollar. This is the first time we have got to that point in nearly 40 years. Although having that high dollar is hard for our exporters it is quite simply a mark of success.Our policies are also leading to fewer New Zealanders leaving our shores and to a lot of our expats returning to New Zealand bringing valuable experience and expertise. Net outflow 2 years ago was 36700 people. Just in the year to March this year it had dropped to 2300 people. Do you remember when the Prime Minister made that bold statement about turning it round and all the naysayers were saying it would not happen many of them across on the other side of the Chamber? Well actually he has achieved a lot of what he has said. And we are seeing consumer confidence rising up 9 percent between March and April this year. Twelve percent of people feel better than they were feeling 12 months ago and 31 percent expect to be in a better position in 1 year’s time. New Zealanders are optimistic about the future.This Government is showing financial restraint and that is keeping interest rates lower which is good for mortgage holders and also for businesses that want to borrow money to invest in their businesses. We have all seen the impact of this in employment. As I said before we have a low unemployment rate of 5.7 percent compared with 10 percent when we came into Government all those years ago. There are 217000 more people employed than 5 years ago. This is a Government working to put people back into paid employment. This is why we have also increased the adult minimum wage as we have done every year. So again we put the rate up by 50 cents to $14.75. That injected $60 million into this economy over this year and will favourably help 115000 New Zealanders currently in employment. We are seeing our average wage rate improve with an inflation rate of 0.3 percent and we are seeing average wage rates going up 1 percent. That means a net increase and there has been a net increase of 15 percent over the last few years.Recently I was maligned in the National Business Review for asking the Minister of Finance about what this Government is doing for New Zealand families. Mr Hooton thought it was strange that someone with my financial background should be asking the Minister such a question. He thought I should be skulking around the back and not trying to ask that question. He is wrong. Looking after our families is not only fair and just but also good business. As a society we need to have an equitable society and having strong families with people in meaningful jobs is a crucial part of that equation. I am proud of the recent policy announcements that this Government has made.