3. Question No. 3—FinanceANDREW BAYLY (National—Port Waikato) to the Minister of FinanceQuestion No. 3—Finance3. ANDREW BAYLY (National—Port Waikato) to the Minister of Finance: Can he confirm that during this term of Government there will be no other changes to tax beyond the new 39 percent personal income tax rate?Hon GRANT ROBERTSON (Minister of Finance): As has occurred under every Government Inland Revenue makes constant changes to tax including whether it's updating their own systems or making the tax system more accessible easier to navigate or fairer for taxpayers. In the last term of Government this included 1.4 million automatic tax refunds lifts to thresholds for provisional tax depreciation deductions on non-residential buildings and loss carry-back and loss continuity policies. I am somewhat surprised that the member would not want tax changes that make it easier for taxpayers—SPEAKER: Order! Order! The member's answer was first of all longer than necessary and second went into an area a long way away from an area he's responsible for. The member is not responsible for Mr Bayly.Andrew Bayly: Will he rule out increasing the trust tax rate during this term of Government?Hon GRANT ROBERTSON: As we stated during the election campaign we will not be increasing the trust rate as part of the piece of legislation that is before the House but as we said at the time—as we said at the time—if we see evidence of people misusing trusts we will act on that.Andrew Bayly: Does he agree with the revenue Minister's comment yesterday that David Parker would consider increasing the tax rate on trustee income?SPEAKER: Order! I'm going to ask the member to quote accurately. I can't believe that David Parker would have said that.Andrew Bayly: Are you saying—I wasn't giving a direct quote—SPEAKER: Yes.Andrew Bayly: And you're saying I need to?SPEAKER: Yes. Well if the member is quoting he's got to quote accurately and while David Parker makes unusual comments I don't think he ever says it David Parker said this …"Andrew Bayly: So does he agree with the revenue Minister's comment yesterday that he would consider increasing the tax rate on trustee income?Hon GRANT ROBERTSON: In my last answer I just said if we see evidence that trusts are being misused then yes we would consider that. That's exactly what we said in the election campaign.Andrew Bayly: Why is he seeking advice on possible tax changes when he has categorically ruled out making any changes?Hon GRANT ROBERTSON: What we sought advice from Treasury on is what we can do to dampen the excessive demand in the housing market. That is what a responsible Government does.Andrew Bayly: Would he consider it to be a broken promise if he were to increase other tax rates considering the Government has promised that there will be no other changes to tax beyond the new 39 percent income tax rate?Hon GRANT ROBERTSON: The premise of the member's question is completely incorrect.Andrew Bayly: Point of order. Could I ask for elaboration because—SPEAKER: The member can—it's a question. [Interruption] Hang on the member has asked can he ask for an elaboration. The answer is yes; he's just got to ask for it.Andrew Bayly: Can the Minister further elaborate on what he means by that statement?SPEAKER: Probably "will" the Minister rather than "can".Hon GRANT ROBERTSON: I certainly can and just to pick one example in the tax policy that the Government is implementing we actually want to make sure that multinationals pay their fair share. Apparently the opposite side doesn't care about that."