SpeechRt Hon WINSTON PETERS (Deputy Prime Minister): Thank you very much Mr Speaker. Acknowledgments to our Cabinet colleagues and party Ministers: Tracey Martin Shane Jones and Ron Mark under-secretary Fletcher Tabuteau and to our caucus colleagues. Thank you for your support your hard work and successes announced today. We stand here today in support of the coalition Government's Budget. It's a Budget that responds aggressively to our present conditions it's a Budget that will support our transition to recovery and it's a Budget that has our people New Zealanders front and centre.The COVID-19 pandemic is a completely new situation in which the coalition has very few familiar guidelines to shape our response. We are in unchartered waters. In this novel situation we look to history to help guide our thinking about the Government's health and economic response and recovery strategies. US President Franklin Roosevelt's response to the Great Depression is one lesson to draw from. He had no playbook for his response and nor do we. We've had to learn as we go always with the health of our most vulnerable people foremost in our mind.The first Labour Government you'll recall in 1935 responded to the ravages of the Great Depression with compassion and practical wisdom. The fourth Labour Government in contrast responded through ideology and blind devotion to neoliberal economic theory. The former tradition helped the many survive a massive disruption and its success settled public policy even National Party policy for the next 50 years; in stark contrast the revolutionary tradition adopted by Roger Douglas and Ruth Richardson favoured the few and left abandoned a lost generation of New Zealanders cynically cast adrift as no longer economically viable.This is a crisis where we need to park our ideology at the door. We can well recall at the beginning of the neoliberal experiment in 1984 its disciples saying Farming is a sunset industry".Hon Member: Oh yes I remember that.Rt Hon WINSTON PETERS: You remember that? "Farming is a sunset industry." Well today—Hon Gerry Brownlee: He was one of them.Rt Hon WINSTON PETERS: Well today—no don't tell me it was one of them because I was in the National Party at the time where they were giving—that's Mr Brownlee's lot—the architect of that Budget Roger Douglas eight out of 10 for his Budget. They were meant to be in the Opposition; they were acting like a bunch of fifth columnists—unbelievable. I know you hate to remember it but I remember it with telling concern that here we are in 2020 and they've learnt so little. You know Mr Bridges my advice in the first day of the COVID crisis level 2 is to get a haircut and get a real job.Can I just say "Farming is"—they said—"a sunset industry". Well let me ask you up there in the gallery which industry is standing tall today? Which industry is standing tall today? Hon Gerry Brownlee: David Lange—over and over and over.Rt Hon WINSTON PETERS: And for any seeking to defend with blind ideology like Mr Brownlee again opens his mouth lets the wind blow his tongue around. He uses these occasions to make a constant fool of himself. I want to tell the listeners in New Zealand today that man shouting like a lunatic is Mr Brownlee from Christchurch—the woodwork teacher. For any seeking to defend—Hon Gerry Brownlee: Oh there you go. Put the boot into the workers as usual.Rt Hon WINSTON PETERS: Here he goes again. Can you hear him? See noise he thinks is volume and volume he thinks is substance. No Mr Brownlee I'll give you the short lessons in life. Just close your mouth open your ears you just might learn something for the first time. For any seeking to defend blind economic theory there are countless other examples to destroy the validity of that belief. Desired ends and means need to match and this coalition Government's third Budget locates the coalition's COVID-19 response closer to the first tradition while it utterly rejects the second.Did you hear Mr Bridges say when he said that the Government is going to bring in new taxes? Mr Bridges it's 2009. Hon Members: Ha ha!Rt Hon WINSTON PETERS: No no. It's not '99. In '99 you were going out but it's 2009—Mr Bridges it's 2009 and Mr Key had promised no new taxes. Why are you laughing? I'm giving you a reminder of history and it's not so long ago; it's only 11 years. So it's 2009 he promises no new taxes and then he put up GST. Hon Gerry Brownlee: He dropped income tax.Rt Hon WINSTON PETERS: And dropped income tax for his mates—for his mates unbelievable. You know you can't help some people but you can keep on trying.Can I just say we have the ends and the means to match. We have our eyes wide open about the impact of this crisis. Every ounce of our collective effort is going to be required to fix it right here right now in the short term the medium term and the long term. Can I just say to the National Party over there—looking somewhat bewildered and saddened—that if they don't listen the numbers in that gallery are going to be the numbers who don't come back to the National Party at the next election. Have a good look. Keep quiet and learn something.Simply put the people are our best resource to drive our economic recovery and we here back New Zealanders. We owe New Zealanders nothing less. Their commitment to keep their vulnerable neighbours and families safe is one of the most outstanding community-wide efforts in our country's history. And in recognition of this we'll be taking to our Cabinet colleagues a proposal to create a special COVID commemorative medal—a CCM for service to New Zealand communities. The medal will acknowledge the many New Zealanders who led their communities since the pandemic hit our shores. Front-line health staff such as doctors nurses as well as community leaders of all types will be eligible to be nominated for say 5000 medals that will be for a lifetime. The honour would follow the current honours and awards process. Because we're going through a historical moment in time we should as a society celebrate the many contributions citizens have made to keep our team of 5 million safe. The COVID commemorative medal would be as I said for life and we see it being passed on to heirs and successors long into the future—a permanent reminder of a time in our nation's life when we drew upon the best of our national character to protect life.Now the Government knows that it must balance the immediate needs of our people with long-term needs to refashion a vibrant future economy. When this lockdown started New Zealand First knew that the country faced a massive economic downturn. We also knew that the Government would need to intervene to keep business running and people employed. We might not always get everything perfect but the coalition is willing to try anything and do everything to help business survive and save jobs by providing a cushion as the country transitions to a new equilibrium. This year's Budget is about recovery and the Government is certainly using its balance sheet to assist the post-lockdown economic phase of our response.So while all the rules of fiscal prudence are now obsolete the coalition is committed to maintaining our comparatively low debt position against those countries we compare ourselves with. And you can't compare the same debt as the previous Government. We're paying three times less in interest now than three four and five years ago when this group over here in response to the crisis of corruption and fraud at Wall Street called the global financial crisis decided that they would go from a Government debt of $10 billion to $82 billion and they have the effrontery with those high interest rates at that time to say that they could do better.In fact Mr Bridges today said that we had no experience in how to run a country. Really? I mean Mr Bridges what's your business experience? Dare I say it Mr Goldsmith what's your business experience? And Mr Goldsmith if because of the latest polls as an MP your job is gone I suggest you start looking hard at Epsom because on the list you won't make it. I suggest you get real—eyes wide open politically—David Seymour: Where's that member's seat?Rt Hon WINSTON PETERS: —and ensure—what's this member going to do? Go on to be again a responsible permanent face of New Zealand politics. Where am I going to be? I know but where are you going to be? Well he's going to be applying for one of those applications that we made possible today in the Budget! We even thought of him. We've got the application even going till October when he's had time to get his three months and then find out what reality is all over again. Can I just say I cannot believe somebody over there shouting who's been the leader of a party of one since 2011 getting all the parliamentary largesse as a party. Who does he lead? Himself. No wonder he's confused—no wonder he's confused—Hon Member: And he still won't listen.Rt Hon WINSTON PETERS: —and he still won't listen. Amazing.Can I just say that all the rules of physical prudence are now obsolete. The coalition's committed to maintaining our comparatively low debt position against those countries that we compare ourselves with.Chris Bishop: Say that again louder!Rt Hon WINSTON PETERS: I beg your pardon?Chris Bishop: Say that again!Rt Hon WINSTON PETERS: Say again?Chris Bishop: Say the fiscal prudence thing again.Rt Hon WINSTON PETERS: Well can I say "Snapchat that". That's what the rest of the world says. You Snapchat that sunshine all right? We want to get there as quickly as possible but this is a marathon; not a sprint. We'll need all of us working together.The Government initiated a wage subsidy scheme early on. The targeted extension of that announced today is an example of balancing urgent need with greater fiscal targeting. Today we welcome the $4 billion business support package. A significant change in the tax system and low interest-free loans will support businesses to recover and help retain jobs. Even Maggie Thatcher learnt that if you can keep a business going it costs you a whole lot less than trying to start one new one. New Zealand First understands the crucial role that business plays in creating the nation's wealth and today's announcements while they will help are not the end of our support. Where the Government could and we should we've changed regulations and legislation to increase economic activity. Most notable is fast-tracking the Resource Management Act consenting process to spur job creation. Congratulations to the Hon David Parker for doing quickly what they wouldn't do for nine long years—nine long years of utter inertia. They were so desperate that they started blaming New Zealand First for not changing the—Hon Gerry Brownlee: That's right.Rt Hon WINSTON PETERS: —Resource Management Act. Who Mr Brownlee was in Government? You with your other three parties—Hon Gerry Brownlee: Well I hope the Greens are with the Government.Rt Hon WINSTON PETERS: —or New Zealand First? He is so perverse this man that he thinks shouting in some stentorian idiocy substitutes for being an MP.Hon Anne Tolley: No that's your claim.Rt Hon WINSTON PETERS: Oh here comes the member from the East Coast. Tell me what happened to the railway line between Wairoa and Gisborne that she is meant to be in charge of? [Interruption] I can't hear you. What did she do? Hey I've got it: doughnuts—doughnuts for all that time. She's got these people on the backbench that think that shouting out somehow is going to save them. Gentlemen I know the polls: it's not. The latest polls that Mr Farrar gave you say that that bunch up there in number symbolically are all gone. Now if you are concerned give me a phone call I'll try to help.Now the Government could as I say change regulations; Mr Parker did. So you've heard us say time and again that if a job can be filled by a New Zealander—David Seymour: Ha ha!Rt Hon WINSTON PETERS: —then that job should be filled by a New Zealander. Oh Mr Seymour laughs. He finds it a novel precept. He thinks it's laughable. Here's the guy from Epsom Mr Seymour who sees less every day and he's shouting out here again. This is a guy from a party of one these last nine years. That would make me modest if I was in his position but not him. No no shouting out like a fool and he'll be opposed and he'll be gone. National will take him out.David Seymour: Bye bye Winston.Rt Hon WINSTON PETERS: You know there will be a very large number of people—you know as Muldoon used to say "I'll be around long after you've gone son." Ha ha! I'm sorry but—SPEAKER: Muldoon said that to me too.Rt Hon WINSTON PETERS: Oh did he say it to you Mr Speaker?SPEAKER: He did.Rt Hon WINSTON PETERS: All right well he's wrong there. But I'm right here.There will be a very large number of people needing employment or redeployment especially for many thousands employed in battered tourism and hospitality sectors. Budget 2020's trades training package of over $1.4 billion will provide opportunities for New Zealanders of all ages to acquire new practical skills as they adapt—Hon Member: Who wrote this?Rt Hon WINSTON PETERS: —to dramatically—I'm able to write my own speech; not like that nincompoop over there I can write my own speech always have unlike him. Ha! He shouts out "Who wrote this speech?" because apparently he doesn't write his own.Now we're talking about dramatically changed labour market conditions and this Budget provides also $3 billion—$3 billion—to infrastructure projects across the country. That's in addition to $12 billion from the New Zealand Upgrade Programme. Minister for Infrastructure and champion of the provinces Shane Jones will be leading the charge on implementation and delivery.So in short we walk the talk; not the other way around—just talk. We walk the talk. We under-promise and we over-perform. When people ask us for help we turn up with the money; we don't say to Defence "We'll give you $20 billion" and don't give them a cent. No no Mr Mark can talk about the billions that he's got—4.5—since he's been a Minister with respect to defence. Dramatically different to their opinion when they had the job.You know our focus is threefold: immediate job creation income growth and construction activity to be under way within coming months. Government support however is not unlimited so we're targeting assistance to those who need it most. It means striking a fair balance between social need and personal responsibility. All New Zealanders need to be productive and if we—New Zealanders—can help in any way to fund our society then we all should. We owe it to taxpayers current and future to do so. It pays to remember that COVID-19 is a global crisis. But before the COVID-19 pandemic the global economy was already in serious difficulty. Slow economic growth and massive accumulation of debt reinforced that fundamental factors behind the 2008-2009 global financial crisis and recession were never resolved; they were just plastered over. The global system had received a massive shock and the chickens have come over to roost and some of us have been saying it for a long long time. We are the ones who are going to learn from the COVID-19 experience. Clearly some in this Parliament have no capacity to learn.Can I just say that New Zealand may be tracking well but many many countries are not. We anticipate the second order disruptions will kick in as the global economy struggles to adapt and while the risk of second wave COVID-19 outbreaks threatens to prevent an orderly return to economic wellbeing. Thus the notion of returning to business as usual fades by the day as global output collapses and unemployment soars. With that warning we know our destination: a new normal for New Zealand's recovering economy.What does a new normal look like? Well it means our team of five million will need to draw on each other's strengths. We need greater autonomy for the New Zealand economy. This means having the ability to grow it and make it and use it rather than waste it and waste valuable offshore funds importing it. As we've said over and over again it's time to put up the shutters to offshore ownership of the New Zealand economy and to go back to owning as much as we possibly can. That would provide us with greater sovereignty over future choices. Overseas investment should be encouraged only where it expands our employment wealth creation and export capacity in a way that is clearly new and not just an offshore takeover of what we're already doing. Overseas investment can be a good thing but it must be balanced in terms of New Zealand's economic needs.There are lessons in the COVID-19 pandemic and worldwide economic collapse; only a fool would ignore them. The Budget's a keystone milestone and key milestone in our response to COVID-19. We can liken this moment to something Winston Churchill said in 1942. He said "Now … is not the end. It is not even the beginning of the end. But it is perhaps the end of the beginning." Our battle with COVID-19 is momentarily paused but we can still lose it if we don't remain vigilant. Five million New Zealanders are winning the battle; now we ask them to fight again a battle that is even harder—it's for the country's economic prosperity. If they show the same resolve that they have so far we'll win. Failure's not an option. All of us New Zealanders need to know that not reaching our goals won't be through a lack of ability but a lack of commitment. The coalition has the commitment to see it through but we need New Zealand's help. After observing the country's brilliant effort to keep the virus at bay we know we'll get that help. Our challenge our quest and our commitment can be summed up in three words—it's J B and B: jobs business and balance. Together we will win."