Barclay Todd: Oral Questions — Questions to MinistersText is incorporated into the Bound VolumeBarclay Todd: Oral Questions — Questions to Ministers[Sitting date: 11 November 2015. Volume:710;Page:7877. Text is incorporated into the Bound Volume.]1.TODD BARCLAY (National—Clutha-Southland) to the Minister of Finance: Does he stand by his statement that building a more productive and competitive economy that supports jobs and higher incomes is one of the Government’s priorities?Hon BILL ENGLISH (Minister of Finance): Yes. Wages are up 3.1 percent in the last year with inflation of just 0.4 percent meaning a real lift in the spending power of New Zealand households. Beneficiary households with children will on 1 April receive a $25-a-week increase—the very lowest-income families something the Labour Party never saw fit to do in its 9 years in office with very large surpluses.Todd Barclay: What overseas reports has he received showing New Zealand’s resilient economy is well placed to continue moderate growth despite international uncertainty?Hon BILL ENGLISH: The International Monetary Fund issued its concluding statement about the New Zealand economy. It says that the economy is flexible “underpinned by strong policy frameworks” and “is well-positioned to weather the recent slowdown … and manage financial stability risks.” It says that medium-term prospects for the economy are positive with “Business and consumer confidence [having] recently picked up” and net immigration remaining strong. It points to a number of risks around the world but says that the “strong public sector balance sheet … underpins confidence in New Zealand’s economy.” This outlook is consistent with moderate growth in jobs and moderate growth in wages.Grant Robertson: What does he say to the people of Gisborne where there are now one in 10 people unemployed about whether or not jobs are a high priority for his Government?Hon BILL ENGLISH: Gisborne is fortunate to be a resource-based economy and the lower exchange rate and low interest rates are supporting businesses there to invest to expand their exports and therefore to employ more people. That is backed up by the Government’s comprehensive approach to economic development in the regions.David Seymour: Does the Minister of Finance still stand by his statement that the Government faces no trade-off between the age and level of entitlement to New Zealand superannuation?Mr SPEAKER: The Hon Bill English—that is some distance from the original question but I will allow it.Hon BILL ENGLISH: Yes. As I pointed out to the member yesterday it is Government policy to maintain the age of eligibility and to maintain the current rates of payment. As I pointed out yesterday the rate of national superannuation payment has grown twice as fast as inflation over the last 7 years. So inflation since this Government has been in power has been 15 percent; national superannuation has risen by 30 percent.Todd Barclay: What steps is the Government taking to support employment through increasing exports and innovation?Hon BILL ENGLISH: The Government takes every step it can to support businesses to do employing because the alternative is that the Government would have to employ everybody. These are some of the things we are doing to support businesses: creating a Trade Single Window for exporters and importers which reduces barriers to exporting and importing; improving the Export Credit Office products and services to help support exporters who are bidding for new contracts in difficult markets; signing free-trade agreements with Malaysia Hong Kong Korea and ASEAN and negotiating a free-trade agreement upgrade with China; and hopefully with the support of the Labour Party signing off on the Trans-Pacific Partnership agreement. But who would know whether the Labour Party is for it or against it?Rt Hon Winston Peters: Could the Minister advise the country as to which sector is the biggest contributor to New Zealand’s gross external debt thereby retarding a more productive economy and slowing jobs and higher incomes?Hon BILL ENGLISH: I suppose the sector that is the biggest contributor to that would be the one that borrows the most. That appears to be New Zealand households. Of course it might be a bit difficult to say to New Zealanders that they cannot have access to borrowed money because actually for a quite a few of them it helps them to buy a house and it helps them to finance their business. We believe New Zealand is gradually improving its external exposure—that is its proportionate external debt is actually dropping a bit. The current account deficit is progressively a bit better than expected year after year and New Zealanders’ savings have been positive for 5 years which has not happened for the last 25 years.Rt Hon Winston Peters: I seek leave to table evidence from the Parliamentary Library that it is the banks that are borrowing $117.9 billion—Mr SPEAKER: Order! [Interruption] Order! The document has been described. It is a very marginal call from my point of view but I will put the leave and let the House decide. Leave is sought to table that information from the Parliamentary Library. Is there any objection? There is none.Document by leave laid on the Table of the House.Todd Barclay: How is the Government supporting jobs growth through investment in infrastructure and by improving links between education and employment?Hon BILL ENGLISH: In respect of infrastructure easily the largest investment is in extending ultra-fast broadband and rural broadband. That is part of a very extensive spend on infrastructure over the next decade. But to improve the links between education and employment the Government has launched over recent years a large number of schemes that assist the progress of young people from education into jobs. One of the results of that is we now have the lowest rate ever of young people not in education employment or training. [Interruption]Mr SPEAKER: Order! [Interruption] Order! To Darroch Ball—when I rise to my feet I expect the member then to cease his loud interjection.