1. Question No. 1—FinanceBARBARA EDMONDS (Labour—Mana) to the Minister of FinanceORAL QUESTIONSQUESTIONS TO MINISTERSQuestion No. 1—Finance1. BARBARA EDMONDS (Labour—Mana) to the Minister of Finance: What recent reports has he seen on the New Zealand economy?Hon GRANT ROBERTSON (Minister of Finance): The National Construction Pipeline Report 2021 was released yesterday and it highlighted the resilience of the construction sector during COVID-19 and noted that the outlook looks positive. Construction activity is forecast to grow steadily to about $48.3 billion in 2024 driven largely by the residential sector. The report shows residential construction has seen unprecedented interest in the past year despite these changing economic conditions with more than 265000 new dwellings forecast to be consented over the next six years at an average of 44000 dwellings a year. The construction sector is now our fourth-largest employer with over 281400 people for the year to the end of September and the Government's investments in apprenticeships and trade training have supported this with 171000 people taking up the opportunity including 81000 apprentices.Barbara Edmonds: How is activity in the infrastructure sector contributing to the economy?Hon GRANT ROBERTSON: Well the report also forecast an increase in infrastructure activity which reflects the Government's $57.3 billion investment in infrastructure over five years to create jobs and lift productivity. Annual infrastructure expenditure will grow steadily to reach $11.2 billion in 2026 with growth expected to be particularly strong in the Auckland and Waikato - Bay of Plenty areas. The Government's swift actions to invest in infrastructure at the start of the pandemic have meant the sector has been able to retain and attract talent at a critical time and the sector is now in a robust position to build back better and continue to deliver on this strong pipeline of work.Barbara Edmonds: What other reports has he seen on the economy?Hon GRANT ROBERTSON: Well the latest set of Crown accounts shows the—[Interruption]SPEAKER: Order! Order! I'm only going to do this once: members must not pull their masks down in order to interject.Hon GRANT ROBERTSON: —continued strength of the New Zealand economy despite the challenges of COVID-19—[Interruption] It won't make more sense if you pull it down Mr Bridges; it'll be the same. The accounts for the four months to the end of—SPEAKER: Order! Order! I made a ruling which did not relate to Mr Bridges and I don't want references made to my rulings.Hon GRANT ROBERTSON: The accounts for the four months to the end of October factor in the improved starting position for the new financial year. Core Crown tax revenue was $2.5 billion above the Budget 2021 forecast coming in at $31.8 billion. This was largely driven by better than expected corporate profits and more people being in work. The operating balance before gains and losses was a deficit of $7.8 billion $1.8 billion higher than forecast as restrictions triggered by the pandemic meant that Government had to put in place more financial support to protect jobs and livelihoods. Net core Crown debt stood at 34.2 percent of GDP below the 36.7 percent forecast by the Treasury and significantly below most countries that we compare ourselves with. It continues to be appropriate for the Government to take a balanced approach and invest in supporting the recovery and dealing with the longstanding challenges that we have.