7. Question No. 7—Economic DevelopmentHon TODD McCLAY (National—Rotorua) to the Minister for Economic DevelopmentQuestion No. 7—Economic Development7. Hon TODD McCLAY (National—Rotorua) to the Minister for Economic Development: Does he consider confidence in the New Zealand economy to be important; if so is he concerned at reports of falling business and consumer confidence?Hon DAVID PARKER (Acting Minister for Economic Development): On behalf of the Minister I am concerned about some people crying Mr Wolf" about business confidence. Further I don't consider confidence surveys to be as important as actual facts such as the highest growth in wages in a decade and the lowest unemployment rate in 11 years. Also confidence surveys are known to have a low correlation to economic growth. For example the December 2016 ANZ Business Outlook said that "Businesses are wrapped in optimism." and "Businesses are jolly" yet the economic growth rate then fell by nearly 1 percent over the following nine months which is why this current Government inherited a falling growth rate.Hon Todd McClay: Well does he agree therefore with the ANZ who have described falling business confidence under his Government's watch as "grim" and lower consumer confidence as "a warning shot"; and if not why not?Hon DAVID PARKER: No I don't agree with that. What I do agree with is the New Zealand Institute of Economic Research (NZIER)'s September 2009 quarterly prediction which was headed "NZIER sees offshore developments weighing on the growth outlook" but then notes that "The … economy has experienced 33 consecutive quarters of growth—the longest stretch since records began in 1947. The unemployment rate is also at an 11-year low of 3.9 percent" and then concludes by saying "All this suggests the New Zealand economy is on a solid footing to weather the global headwinds."Hon Todd McClay: What Government policies responsible for rising costs to the New Zealand economy will his Government roll back given the NZIER have today said that business confidence remains weak as businesses struggle to pass on rising costs?Hon DAVID PARKER: I don't accept the premise of that question. I'm actually not going to accept the Opposition's advice on this given that they're changing their debt strategy more often than the weather changes.Hon Todd McClay: Which of his Government's new regulations adopted since the election will the Government repeal to reduce costs and compliance on Kiwi businesses and help restore confidence in the New Zealand economy?Hon DAVID PARKER: Well I'm certainly not going to do what the Opposition recommends which is to rip up the foreign-buyer ban which has had the effect particularly in our most overheated markets of vastly reducing foreign-buyer purchases in central Auckland Queenstown and Wānaka which is where the highest price pressures were.Hon Todd McClay: Has he asked the trade Minister David Parker why he says exports are at a record high with exporters receiving near record returns whilst the Government tries to blame its own poor economic performance on overseas markets?Hon DAVID PARKER: Indeed I have. In fact I understand that the Minister for Trade and Export Growth has been working tirelessly to pursue trade opportunities around the world rather than taking time out of ministerial business to procure donations from foreign entities. [Interruption] Hon Gerry Brownlee: I raise a point of order Mr Speaker. I waited for a time thinking that you might act but I think that was a most unreasonable unsubstantiated and unacceptable allegation made by a Minister and he should be required to withdraw it.SPEAKER: Well the first thing I'm going to do is to indicate I don't know who it was who made the noise over there but there'll be a consequence for that. I'm not entirely across the facts in this particular case but my reading of recent media was that there had been an acceptance of the facts as outlined by the Minister in his answer. I think it's fair to say that there were arguments around whether it was right or wrong whether it was within the law or not within the law but I hadn't seen any suggestion that the member concerned had not been involved in a discussion while he was a Minister with regard to a donation even if not in that capacity.Hon Gerry Brownlee: Speaking further to the point of order it would be possible I think for any of us to find photographs of current Ministers in circumstances that would be quite appropriate but where the other persons or parties in that photograph would have given donations to the Labour Party for example or to New Zealand First. I want to refer you to Speaker's ruling 167/3. I think it's pretty clear that the statement by Hon David Parker transgresses that ruling.Hon DAVID PARKER: Speaking to the point—SPEAKER: No I don't need any help with that at all. There was no suggestion made by David Parker that Todd McClay was corrupt. That was absolutely not made and I want to say to Gerry Brownlee that to use that Speaker's ruling which suggests that Todd McClay was corrupt or had committed some misconduct is entirely inappropriate. That is not what David Parker said.Hon Gerry Brownlee: Further to the point of order: for people who will not have read this but are expected to listen to your interpretation it says "make implications or imputations in questions that go to matters that could be interpreted as misconduct or corruption." There would be no reason other than trying to do that for David Parker to have made the statements he did and that is an offence against the good conduct of the House.Hon DAVID PARKER: Mr Speaker—SPEAKER: No I'm sorry. I've just about had enough of this. I mean the suggestion that having a photograph taken with someone who is a donor to a party is in itself an inference of misconduct or corruption is just wrong. I mean I've had photographs taken with Grant Robertson and I've certainly given money to a political party. So I think the member is just going too far and in my opinion this process and especially the reference to the suggestion that there was an imputation made by David Parker that involved misconduct or corruption is incorrect. In fact really the only person who has made that suggestion in that form to the House by drawing attention to this Speaker's ruling is the member himself."