Cosgrove Clayton: Questions for Oral Answer — Questions to Ministers 
Cosgrove Clayton: Questions for Oral Answer — Questions to Ministers 
[Volume:613;Page:9838] 
1. CLAYTON COSGROVE (Labour—Waimakariri) 
 to the  
Minister of Finance 
: Has the Government received any reports into its economic credibility? 
Hon Dr MICHAEL CULLEN (Minister of Finance) 
: 
 Yes. The latest household labour force survey released today showed further drops in the unemployment rate. We now have the fifth lowest unemployment rate in the OECD which puts us in the top quarter. The financial statements for the 3 months ending September also released today showed the operating balance tracking some $700 million – odd above Budget forecasts. 
Clayton Cosgrove 
: What recent evidence has he received to support the assessment of Mr Prebble the leader of the ACT party that Labour has high economic credibility? 
Hon Dr MICHAEL CULLEN 
: There have been many such reports. The data I just referred to certainly demonstrates that fact and the ASB in a statement on unemployment numbers paid tribute to the Government’s economic policies and the success thereof. That is what I believe some people call “destroying New Zealand”—may it long continue! 
Gerry Brownlee 
: How credible is it to have the Minister of Finance’s $5 billion surplus or his $700 million of spare cash when we have kohanga reo throughout the country running out of funding and calling in parents to relieve teachers and clean toilets and similar sorts of shortages in other parts of the education system and in the health system as well? 
Hon Dr Michael Cullen 
: If the member thinks that under accruals accounting an operating surplus is “spare cash” it shows why he should leave these questions to John Key. 
Gerry Brownlee 
: I raise a point of order Mr Speaker. The question was about the credibility of the Minister of Finance. Surely rather than a smart-arse comment like that— 
Mr SPEAKER 
: Order! 
Gerry Brownlee 
: I withdraw and apologise— 
Mr SPEAKER 
: No. Please be seated. The member can certainlyflick a comment back but he does not use unparliamentary language. He withdraws and apologises. 
Gerry Brownlee 
: I have withdrawn and apologised. None the lessthe Minister should answer the question. If he has a reason for kohanga reo to be out of funding—for parents to have to come in and supply cleaning materials for their toilets to relieve teachers and to provide art materials for all those young people—if he has abandoned the closing the gaps policy that was so important a wee while ago and if he has such a fine economic performance to his credit why does he not explain that situation? 
Mr SPEAKER 
: I will ask the Minister to say a few more words. 
Hon Dr MICHAEL CULLEN 
: Under accruals accounting an operating surplus does not necessarily reflect a cash surplus. Equally if the member thinks about the unemployment numbers released today there is scarcely room for a large fiscal stimulus to the New Zealand domestic sector at the present time. 
Rodney Hide 
: In light of the clear value that the Minister of Finance puts on Mr Prebble’s assessment does the Minister realise that Mr Prebble gave his Government an A for spin but an F for policy—this Government being the most anti-business anti-success and anti-prosperous Government we have had to endure in a generation? 
Hon Dr MICHAEL CULLEN 
: A Government that can boast the lowest unemployment rate for 16 years 3 successive years of higher growth than the average for the OECD growing household incomes and a particularly large reduction in unemployment amongst Maori and Pacific Islands people is clearly what the ACT party would regard as social failure. For it success is the flogging off of State assets rising unemployment and increasing poverty. 
Rt Hon Winston Peters 
: Would the Minister of Finance admit that in the time that he has had a say in the Labour Party’s running of this country we have seen New Zealand grow in real terms at one-third less than Australia’s rate and that we have a balance-of-payments crisis in this country that is almost unprecedented; does he put that all down to himself and his colleagues? 
Hon Dr MICHAEL CULLEN 
: To the first question no. To the second question current account progress in New Zealand is following Australia’s track very closely and I keep drawing that to the attention of the financial sector. 
Rodney Hide 
: I seek leave to table an article from the  
Daily Post 
 last year in which Dr Cullen stated that there would be 4 percent growth in the next year. 
Mr SPEAKER 
: Leave is sought to table that article. Is there any objection? There is.