Nash StuartHon STUART NASH (Minister for Economic and Regional Development): Talofa lava Madam Speaker. This is a difficult Budget to put together due to the international headwinds of inflation distressed supply chains stock market volatility and still in the shadow of a global pandemic. It's why the Budget's title is economic certainty for Kiwis during good times and bad because the Minister of Finance Grant Robertson has successfully managed our economy through COVID in a way that is the envy of the vast majority of developed countries. And this Government and the finance Minister Grant Robertson has put together a Budget to drive economic growth high wages and low emissions in a post-COVID world.We are a Government that backs small business. I have been saying for a long time that this is the last generation of business owner that'll thrive let alone survive without being digitally enabled. It's why we put in place Digital Boost and so far nearly 30000 businesses have accepted the challenge. This is all free but it's allowing them to undertake that digital journey which is so important to survive and thrive and do really well and engage in a post-COVID world.But one of the things that the Small Business Council that I put together last term identified is a lack of capital for these businesses to grow. It's why in this Budget we've put together the Business Growth Fund. This is a $100 million fund that will help crowd in money from the large banks. There's still a bit of work to do but it's worked really well in the UK in Ireland in Canada in Australia and we believe it'll work really well here. Minister Robertson and I have been having a number of conversations with the large banks and with the Reserve Bank. As mentioned there's a little bit of work to do but this is filling in that gap that exists at the moment. And thing with this is not only will it provide funding for small to medium businesses—around $3 to $30 million revenue—it will also provide a level of support and guidance and mentoring that we know a number of New Zealand small businesses need to go global and go international.We are also a Government that backs the rebuild of tourism in a post-COVID world. We back a rebuild that is sustainable that is innovative and that is regenerative. It is why we have put together in this Budget a $54.2 million fund around innovation in the tourism sector. We'll work in partnership with the industry to come up with innovative programmes to drive productivity and drive innovation in a way that will not only enhance our global brand but it will create fantastic storytellers from those who have travelled afar that will come here and understand that we are unique and the experiences that they have over here they will take away they'll become fantastic storytellers and it will influence everyone that they talk to. It is a fantastic innovation fund that is needed to drive a post-COVID rebuild of the tourism sector.We are also a Government that backs the economic transformation of our economy. And we've done this through our industry transformation plans: $148 million in this Budget to supplement the $41 million from our last Budget. And these are in areas where we believe that we have some form of global competitive advantage or we can develop a form of global competitive advantage going forward. They're in eight areas of our economy that we are backing 100 percent. But the thing about these industry transformation plans is they're done in partnership with Māori iwi with the unions with the sector and with Government. And we're coming up with really innovative ideas that can drive growth in a really sustainable way. What we're seeing already out of the industry transformation plans is engagement and innovation in sectors of our economy that we haven't seen before and this is the sort of thing we need to put in place if we're to get the sort of productivity that we haven't had in the past but is so necessary if we are to be globally competitive.We are also a Government that understands the value of forestry in decarbonising our economy and driving optimal land use across rural New Zealand. We are a Government that understands that the right tree in the right place at the right time is so important if we are to get our settings in rural New Zealand right. It's again why we are working with iwi it's why we are working with our rural communities it's why we are working with Federated Farmers Beef + Lamb New Zealand all the key stakeholders who understand that we need to get this right. It's not about planting up productive farmland it is about ensuring optimal land use. In this Budget there was $118.4 million for farm and forestry advisory services; again working with stakeholders to make sure we get the right tree in the right place at the right time.There is $256 million in the carbon emergency fund; again to help maximise the contribution of forestry in boosting carbon sequestration. It's about look-up tables it's about alternative fuel sources and it's about driving innovation in wood processing. This is a Government that believes in this economy it's a Government that backs business it's a Government that is transforming our economy in a way that only Labour Governments can and I'm very proud to be part of this Government going forward.