Genter Julie Anne: Taxation (Annual Rates Foreign Superannuation and Remedial Matters) Bill — Second ReadingText is subject to correctionGenter Julie Anne: Taxation (Annual Rates Foreign Superannuation and Remedial Matters) Bill — Second Reading[Sitting date: 05 December 2013. Volume:695;Page:15333. Text is subject to correction.]JULIE ANNE GENTER (Green): I rise to speak on the Taxation (Annual Rates Foreign Superannuation and Remedial Matters) Bill. The Green Party is supporting this bill and I must speak up because one of the previous speakers from the Government benches stated something that I think is quite erroneous which is that the Green Party is opposed to everything. That is not true at all.The Green Party is for creating a sustainable economy that is going to look after all New Zealanders in the long term. We take a long-term view and that is where we differ from this current Government. The truth is that we do not support many of the things this Government is doing because this Government strategy is very short term: dig it drill it mine it sell it. That is not going to create a long-term future for our children and grandchildren. But the Green Party does support the minor changes contained in this bill because they do make some very tiny tweaks. They improve the rules around foreign superannuation schemes and the taxation of those.We particularly support the very tiny moves to remove some of the unnecessary concessions to the mineral mining industry. This is really really important because we see a pattern of the National Government trying to give special tax breaks to the oil gas and mineral industries and that is not fair. That is not going to result in a truly economic investment in a sustainable New Zealand. If you give companies tax breaks that encourages them and gives them a leg-up on other industries. Why would we want to give a leg-up to an industry that results in pollution or the exploitation of non-renewable resources when in fact it should be competing fairly with other businesses that are more sustainable? That is all we are asking for: fair and equal tax treatment that leads to a fair more equal New Zealand and one that is more sustainable in the long term.Everybody knows that we can dig up minerals if they exist and we can sell them and we get a one-off cash hit perhaps—at least the foreign-owned companies do. It is completely unclear whether New Zealand benefits from that because we do have one of the lowest royalty regimes in the entire world. But OK someone is going to make some money off that in the short term. But in the medium and long term our “clean green” brand is damaged we have got nothing left once any royalties we do get from that have been spent and what is our long-term strategy there? There is no long-term strategy.The Green Party is for a long-term approach and we are absolutely for simplifying unnecessary complexity in the taxation system. But this bill although it is not objectionable really does not go very far. It does not go very far towards creating a tax system that is going to ensure that ecological damage is valued appropriately by companies when they are pursuing different business investment opportunities. It does not make changes that would ensure that those who are at the very top end of this scaledo not have a permanent advantage that then leads to growing inequality in New Zealand.We just saw with the census figures that were released earlier this week that inequality is growing in New Zealand and that is not good for anyone. It is very very clear that an increase in inequality leads to all sorts of problems in terms of increased crime and increased public health costs but above all it is just not fair. It means that not everyone in New Zealand has a fair go. Those who are on the top income scheme do not necessarily pay back their fair share and ensure that everybody especially those children who are living in poverty have all the advantages that every other New Zealander has and should have.The Green Party stands for a simple and fair tax system that leads to a more equal New Zealand and a New Zealand that is going to have long-term opportunities for all of us in the future. Thank you.