McClay Todd: Taxation (Budget Measures) Bill — First Reading Second Reading In Committee 
Text is incorporated into the Bound Volume 
McClay Todd: Taxation (Budget Measures) Bill — First Reading Second Reading In Committee 
[Sitting date: 24 May 2012. Volume:680;Page:2464. Text is incorporated into the Bound Volume.] 
TODD McCLAY (National—Rotorua) 
: 
 The last speaker in this debate Clayton Cosgrove used to be a man of vision. He used to have passion for New Zealanders. He wanted to do the right thing for New Zealanders. I would for a moment say before I talk about Part 1 of the Taxation (Budget Measures) Bill and how concerned I am about that last speech that in as far as Canterbury is concerned he has worked extremely hard over the years for Kate Wilkinson’s constituents to make sure that they have a better lifestyle down there. So what I would say to you is that— 
Hon Clayton Cosgrove 
: Is that the best you can do? 
TODD McCLAY 
: No there is some more coming Clayton—just wait. There is certainly some more coming. In 2008 he and his party opposite were out of touch and out of time. What has happened this year? They are still out of touch but they have got all the time in the world. He has had lots of time this afternoon to read Part 1 of this bill but that was all we got: the same old rhetoric that always comes from the Labour Party. New Zealanders were sick of it only 6 months ago and of course 3 years before that and it keeps on coming. Well can I ask one thing of the members opposite: please keep it coming because on this side of the House we want to get out there and talk about the issues that are important to New Zealanders. 
So what is important to New Zealanders? Important to New Zealanders and it is in Part 1 of this bill is balancing the books investing more in education and making things fairer for all New Zealanders—not the things we have heard from members opposite. 
I want to come to clause 5 in Part 1. I want to say to members opposite—only those in the Labour Party—do not be worried any more; this clause does not apply to you. There will be no restrictions on the use of the herd scheme when it comes to the way you get together and work out what it is that we must do for New Zealanders. This is about livestock not members opposite in the Labour Party. The reason that that is important—[ 
Interruption 
] What was that? 
I am going to yield in a moment because I am keen to hear from the Minister in the chair the Minister of Revenue but I am keen to know in terms of clause 5 which is restricting the use of the herd scheme whether there are farmers who use this scheme who take a cow from one of their neighbours—maybe a neighbour gives them a cow—and decide to go on TradeMe and sell it to somebody else for more money than it was given to them for or they bought it for. Could this part of this bill be used to sell on TradeMe something that had been given to you or maybe something that you had bought? Let us say you buy a cow from your neighbour for $500; could you go and sell it on TradeMe the next day for $1000? Or if he gave it to you could you sell it on TradeMe for an amount more than it is worth? I would be interested to hear from the Minister on that. I would hope no member on this side of the House would do that. What about tickets to go and view that cow singing or dancing? Could you sell them on TradeMe—tickets to see that cow—under this part of the bill? I think not. 
I want as all of my colleagues on this side of the House want to get back to my electorate. Many of us are electorate MPs and we want to talk to New Zealanders about the important parts of this Budget. This is an important bill and we must move forward with this. This is an important bill because it helps rebalance our economy helps us focus on what is important for New Zealanders and helps us spend money in areas where New Zealanders want us to spend it—to be more productive and on education for our children. 
As most people are watching television I say to them that a Labour MP will get up in a moment. Do not adjust your TV. The sound you hear is meant to come from them; there is not a problem with your television. Thank you.