Edmonds BarbaraBARBARA EDMONDS (Labour—Mana): Thank you Mr Speaker. It's a real privilege to be able to stand and take a call on the Taxation (Cost of Living Payments) Bill. Now I've been an MP now for around 18 months and I've watched politics for a number of years and it's quite clear that the National Party have never had a good history with numbers. Their previous Budget had a massive hole in it but you know what did they do? They shifted their spokesperson and they moved them on. So based on what the National Party is suggesting—because they haven't actually provided us with an alternative budget. Based on their tax policy that they're standing by which are tax cuts they're saying a person on minimum wage would receive $110 in a tax cut. So based on the measurement that the previous member had used $350 under this side of the House's policy gets a person a one-way ticket to Australia. Under the National Party they would dump you in the middle of the Tasman Sea because that's exactly what the National Party tax policy of tax cuts does. A person who earns over $180000 underneath their policy would receive an $8000 tax cut; a person on the minimum wage would receive $110. There is an absolute injustice and imbalance in that sort of policy so that's why we are saying we need people to get short-term relief. This is targeted; it is focused. It is focused on those who are in the most need those who earn the median wage and have the lowest incomes. Under this tax policy they will get short-term relief of $350. So let me put that to you in practical terms: that is enough money to help you with your warrant of fitness; that is enough money to help you with the registration. What does $110 a year get a person on the minimum wage? Doesn't even get you your registration. So that's why this Government is absolutely supporting a cost of living payment amendment that we've got on the table today. One of our previous members—Dr Deborah Russell; fantastic academic and tax lawyer—said there was a lot of fantasy world a bit of misinformation that was coming from across the other side of the House. So let me put down the real facts the real information: a return to surplus in 2024-25—Chris Bishop: Oh yeah I'll believe that when I see it!BARBARA EDMONDS: —unemployment rates projected to remain at record lows—3.2 percent. Yes Mr Bishop Oh yeah" because actually even though you're saying you're looking at the Budget documents we had the Reserve Bank in last week and we talked about the actual pressures that are causing the inflation so it would have been good if members on the other side of the House had actually paid attention because a third of it is from the Ukraine-Russia pressure overseas—international pressures; a third of it is around tradables which has come through a lot of the pressures coming from all the supply pressures; and a third of it is within New Zealand. So I'm saying to you the unemployment rate at 3.2 the net debt forecast peaked at 19.9 percent of GDP—that's lower than Australia the US the UK and Canada. And economic growth—growth—4.2 percent in 2023.If you don't believe me then how about you listen to the IMF—the International Monetary Fund; independent. And what did the IMF say? When they released their annual review for New Zealand they found New Zealand was in a strong position. They also said "Now is not the time for substantive tax cuts that give more significant amounts to CEOs than low-income earners." The IMF said "Now is not the time for substantive tax cuts." So therefore this payment is a temporary measure to provide short-term support for those who earn up to $70000. And these are the people that are hurting. It's that middle. It's that $70000 and below. The payment is a temporary measure for those who are not receiving the winter energy payment which came through earlier because we knew that we had to provide support for people over those winter months. The income cap of $70000 is set to provide support to those who earn around the average annual wage of $65000. So what does that mean? It means that 2.1 million people will be eligible for the payment. What is 2.1 million people? That's Auckland Wellington and Christchurch. That is the population of people who will benefit from the changes that are covered in this bill. So therefore I've got nothing much more to say other than the substantive tax cuts across the road will dump New Zealanders in the middle of the Tasman Sea whereas this will provide a short-term measure of relief for our families—for 2.1 million people. Let me leave that again: 2.1 million people will benefit from this. So therefore I commend this bill to the House."