Twyford Phil: Taxation (KiwiSaver HomeStart and Remedial Matters) Bill — In CommitteeText is incorporated into the Bound VolumeTwyford Phil: Taxation (KiwiSaver HomeStart and Remedial Matters) Bill — In Committee[Sitting date: 25 March 2015. Volume:704;Page:2611. Text is incorporated into the Bound Volume.]PHIL TWYFORD (Labour—Te Atatū):I want to make some comments about the title clause of this bill. Although it is currently titled the Taxation (KiwiSaver HomeStart and Remedial Matters) Bill it would I think be far more aptly named the “KiwiSaver (Look As If You’re Doing Something About the Housing Crisis) Bill”. It is very clear from the debate we have had over the last couple of hours that no initiative is too small or too incremental for this Government when it comes to putting up responses to the housing crisis.I was amazed to listen to the contribution by the member Jami-Lee Ross. If I recall correctly he referenced Milton Friedman and Margaret Thatcher in his maiden speech—Stuart Nash: And Ronald Reagan.PHIL TWYFORD: —and Ronald Reagan. It is rather sad that someone who has cast himself as a great economic liberal as an economic rationalist should come to the Committee speaking in favour of this bill. It lacks any kind of ambition in dealing with the housing crisis. Its main content is basically allowing the public—who are the victims of this Government’s failure to do anything meaningful about the housing crisis—to crack open their own retirement savings. Jami-Lee Ross its main contribution to the housing crisis is to throw subsidies to throw taxpayers’ money at a supply-constrained market.Hon Clayton Cosgrove: Mrs Thatcher wouldn’t like it.PHIL TWYFORD: Mrs Thatcher and Ronald Reagan and Milton Friedman would not think that this was a very good bill Jami-Lee Ross. I just feel sad for you that your political career—but not for you Mr Chairman not for you. I feel sad for the member Jami-Lee Ross that his political self-respect has sunk so low that he stands up in this Chamber to speak enthusiastically in favour of a bill that basically consists of throwing public money at a housing crisis where demand already exceeds supply.All of the Government’s advisers—the Ministry of Business Innovation and Employment Treasury and the Reserve Bank—have basically told the Government that this bill will do more harm than good. In fact the National Business Review reported it this way: “National’s flagship housing policy has been damned as counter productive by the Treasury.”I think that the title of this bill simply does not do justice to it. There are real similarities between this bill and the other big housing initiative that this Government announced which was to temporarily suspend anti-dumping duties and import tariffs from nails and varnish. Thank you Mr Chairperson; I will narrow the focus a little bit. So I want to propose that the title for this bill actually should be the “Mildly Benign Bill” because as one member of the Committee after another from this side has got up and basically said—Hon Phil Goff: Bury your head in the sand about the real problem.PHIL TWYFORD: Bury your head in the sand about the real problems of the housing crisis. One member after another has said on this side that we are actually going to vote for it because it is better than nothing but only just—but only just. It is testing our patience for the National Government to bring this bill to the House when its own advisers have said that at best it might be slightly benign but at worst it threatens to undermine housing affordability the very issue that Nick Smith the Minister for Building and Housing says he is trying to deal with.So there are some suggestions for amendments to the title. It could be the “Mildly Benign Bill”. It could be the “KiwiSaver (Look As If You’re Doing Something About the Housing Crisis) Bill”. Actually probably the best option of all would be to take a quote direct from the Prime Minister and call this bill the “There Is No Housing Crisis Bill” because it is that kind of denial and that kind of head in the sand mentality that this bill epitomises.