Tuiono Teanau; Wedd CatherineASSISTANT SPEAKER (Teanau Tuiono): Members the House is resumed. We're on the second reading of the Employment Relations (Protection for Kiwisaver Members) Amendment Bill. I call the next speaker which is call No. 9 which is I believe is the National Party.CATHERINE WEDD (National—Tukituki): I rise to oppose this bill the Employment Relations (Protection for Kiwisaver Members) Amendment Bill. Having sat on the Finance and Expenditure Committee listening to the submissions and the officials—Hon Member: Hard-working committee.CATHERINE WEDD: —provide advice on this bill—yes a very very hard-working committee—I wondered all along as I was listening to just a few submissions actually what is the point? What is the point of this bill? It is an absolute ideological bill because there is already sufficient legislation in place which provides protection. On this side of the House we do believe in KiwiSaver and we believe in supporting hard-working New Zealanders and enabling them to keep more of what they earn and save for their retirement. That is not the issue. The issue is that this is an ideological bill with not a lot of substance because there is already legislation in place.We're focused on delivery and focusing on things that really matter and what I struggled to understand with this bill the entire process is what is the point? We don't need to create regulations and rules for the sake of it when they already exist. When members' bills are put forward they are meant to make a real real difference and I certainly do commend all members for putting forward members' bills because you know they do make a big difference. Actually I've got a member's bill that has been drawn from the biscuit tin which I'm really looking forward to navigating through which will provide more mums and families with more protection after having babies a postnatal care bill which provides a three-day stay.But today we're focusing on the Employment Relations (Protection for Kiwisaver Members) Amendment Bill. This bill is really trying to find a solution for a problem that doesn't exist and this was the common theme through the select committee process when we just actually heard a couple of submissions. I asked many times—many times to the officials I said Can you please give an exact example of where an employee has been discriminated against on the grounds of having KiwiSaver?" and they could not give one tangible example. There were no examples because there is already sufficient legislation in place that would deal with this if this situation was to arise.This bill is basically about creating legislation for an example and a situation which hasn't actually existed and happened yet.Helen White: Do you understand the bill?CATHERINE WEDD: In fact officials advised us that the law in this area is already really robust and I will point out to that member on the other side of the House this was asked to officials many times through the submission process and they said that this situation hasn't actually arisen. So it's a typical ideological idea dreamt up from a member on the other side of the House that creates more work more bureaucracy more time-wasting and more costs when businesses are already under the pump in a cost of living crisis and in times where it is really tough. They're already struggling to survive at the moment and they don't need another regulatory burden hanging over their heads and creating more stress for everyone when there is actually no problem that currently exists at the moment.Let me give some examples of the very few submitters that we heard from. From the CEO of Business Canterbury: "I'm not supportive of this bill" she said. "My first thought is: what is the problem we are trying to solve with this bill? I am not aware of any problem and I have not heard any concerns in this area." This is from Business Canterbury. You would think that she would have heard some concerns in this area. She said "There are many employers that operate on a total remuneration policy which is outlined in their IEAs and explained at the time of appointments being made."—makes sense—and said that "The changes being suggested would potentially create unintended consequences and potentially increase costs for businesses without providing any certainty." This is at a time where we do not want to increase costs for businesses and we want to give more certainty and security to our businesses so that we can power up this economy again and get it back on track.Business New Zealand—they submitted that the KiwiSaver Act recognises the reality of the KiwiSaver contribution management which avoids any pitfalls. They recommended that the bill not proceed. So from the very very few submissions that we heard they recommended that the bill not proceed because there is already legislation in place if—if—this particular situation was to arise.If we look across New Zealand at the moment you know businesses are really struggling. Times are tough because of the wasteful spending that we saw by the previous Government driving us into more and more debt driving up inflation and interest rates. The last thing businesses need at the moment is another bill with more regulation and more cost for businesses.Just in the 10 months that we've been in Government on this side of the House we've been working incredibly incredibly hard and finally there is confidence and optimism across business again. We are starting to hear that we have got green shoots. There is optimism again. Inflation is coming down for the first time in years. Interest rates are coming down and New Zealanders are starting to see the light. Last week we saw the Reserve Bank lower the official cash rate. Spring is nearly here and things are looking brighter because on this side of the House we are respecting hard-working New Zealanders providing tax relief after 14 years enabling hard-working New Zealanders to keep more of what they earn and save and put those earnings perhaps into a retirement fund. In fact an average household will get up to $102 a fortnight. That is going to make a huge difference for the grocery bills the fuel bills the electricity bills—everything that has been going up. This is really really important when we are trying to get this economy back on track.Other actions that we have also taken as a Government to support businesses is our banking inquiry. Our New Zealand banking sector is one of the most non-competitive in the world.Hon Dr Duncan Webb: It's our banking inquiry. I signed off that inquiry—my banking inquiry.CATHERINE WEDD: Our banks are making the biggest profits in the world and there is so much evidence which shows they are not competing for the good of our New Zealanders. We are not content for New Zealanders to get a raw deal. We want New Zealanders to get a good deal and there needs to be more competition. Our Australian neighbours are getting all the benefits of innovation and technology. That member that is talking about that is involved in the banking inquiry actually which we are all supportive of because we want New Zealanders to get a good deal. That is why we are actioning the recommendations this week of the Commerce Commission's banking report and we have launched the banking inquiry also. All of this is going to help get our economy back on track and help businesses.Just in the past week we have had a recess week and—Hon Dr Deborah Russell: Back to the bill—the bill. Talk about the bill.CATHERINE WEDD: Yeah no I am getting back to the bill because I'm talking about the hard-working businesses that this bill would impact. Just last week I was out visiting many many businesses across the Tukituki electorate and I must say—I'll just give a shout-out to Hawk Packaging. Hawk Packaging is this incredible business that is taking 13000 tonnes of roadside recycling waste and they are making apple trays—apple trays—to send our apples all around the world. It's quite incredible actually because this is a sustainable innovative business that is employing dozens and dozens of people. They are hard-working people—ASSISTANT SPEAKER (Teanau Tuiono): And if you could come back to the bill that would be helpful.CATHERINE WEDD: —of New Zealand who are getting our economy back on track they're driving more productivity but they also have a very very large team of employees and they do not want to be inflicted with more red tape regulation and unnecessary bills that would inflict more compliance and cost and bureaucracy. That is not what we need right now. The adoption of this proposed bill would limit the ability for employers to opt for a remuneration approach that is most suited to their business. On this side of the House we're all about choice. We believe in personal choice and in making your own decisions not having this centralised bureaucracy thrust upon you all these regulations and rules. This bill limits employees' ability to choose the saving approach that best suits them. On this side of the House we are all about practical solutions and creating legislation where it's needed and this is not needed.ASSISTANT SPEAKER (Teanau Tuiono): The member's time has expired. The next call is a split call between Labour and National."