Woolerton R Doug: Financial Review Debate — In Committee 
Woolerton R Doug: Financial Review Debate — In Committee 
[Volume:637;Page:7903] 
R DOUG WOOLERTON (NZ First) 
: 
 Anybody listening to Parliament would be forgiven for thinking that this debate is about a rerun of the last election because National is talking about the affordability of tax cuts—but there is a modification to that which I will tell members about shortly. The Labour Government is saying it wants to provide services. We saw that same debate just before the last adjournment when the National Party and in particular Bill English was looking for a reason to back down on its tax promises. It is National’s task to search and question the Labour Party but backing down is what this is all about. National is now saying that the promises made at the last election by the Labour Party are expansionary. Its next words will be that tax cuts cannot be afforded. Then it will say: “Well there you are! We promised them at the last election but we will no longer be able to keep those promises for the 2008 election because Labour has spent the money.” In actual fact Dr Cullen is running with the regime that he promised. He is fulfilling promises that he laid out at the last election and that is what Governments should do—absolutely. 
I was pleased to hear in the financial statements of the Government that the New Zealand Superannuation Fund is on target and even gaining momentum. The people of New Zealand are starting to understand the wisdom of savings as proposed by Winston Peters and New Zealand First years and years ago. In fact we are experiencing the sort of thing that has happened in Australia with superannuation savings. It is so successful. Indeed Australia has an abundance of money and that money is coming to New Zealand to buy our businesses. That is where the money is coming from and that is where the money will come from in the future. 
Years ago New Zealand First talked about superannuation savings and said that should happen. Years ago Winston Peters said it should happen. I might tell members that when we were in coalition with National it withdrew its support from New Zealand First’s proposal. In fact I would go so far as to say that National sabotaged that proposal at the time when New Zealand First was in coalition with National. Now the worth of those proposals is being proven not only in New Zealand but in Australia. In fact it is being lauded. I would like to hear someone at some stage say: “Yes New Zealand First was quite right back then and we should give them credit for that. We should look favourably on those sorts of proposals.” New Zealand First of course would go further with the superannuation fund and put it in named accounts. We proposed that back then and we propose that today. 
I will say right now that I believe and we believe that National in some way or other will make a raid on that superannuation fund if it ever gets into power. If it were not to raid it directly it would borrow against it. In other words it would rack up deficits and spend that money on ill-considered tax savings. That is what I believe the discussion has been about this afternoon and it saddens me that National is still looking for an excuse to climb down from those tax promises. We will see more of that. 
People probably do not know about Mr John Key’s contribution when we were discussing the financial statements of the Government of New Zealand in the Finance and Expenditure Committee. I am sure my chairman will confirm what I am saying. Mr Key was not the leader of the National Party at that time but he was talking about the Auckland stadium.