Bayly AndrewANDREW BAYLY (National—Port Waikato): Thank you Madam Chair. First of all I just want to pick up on the first point the Minister of Finance made and talk very saltily about how good our GDP growth was. I'd just remind the Minister that our GDP growth was actually minus 2.9 percent for the year to December 2020. That compares with Australia which is 2.5 percent and then that compares with Ireland that was 2.5 percent. So we're actually nearly 5 percent off the best in the world and we actually currently sit at 13th in the OECD in terms of OECD performance. Which means that I'm not so sure that that is a wonderful outcome because every other country in the world suffered the issue of COVID. I just want to pick up on this issue around debt and more concerning the ongoing deficits that this country is going to run. It's interesting that every time this issue is raised—and I just heard how the Minister responded to my ACT colleague that it's fine that we spend the money during the COVID lockdown up to now and for the last 12 months—and I don't think many people would disagree with most of the elements of that spending—but right now we're in a situation where the game has changed. The Minister has highlighted to us all through his patsy questions today in the House from the chair of the Finance and Expenditure Committee how wonderful the economy is going right now and I'm sure he will take every opportunity to portray himself as the saviour of New Zealand. If that is the case the issue then becomes how do we bring our costs and also our debt down over time? So as my good colleague here Michael Woodhouse noted before the Auditor-General does have concerns and he was quite public and we did question him at the last Finance and Expenditure Committee meeting about the quality of the spend but more importantly what value it is delivering and how that is reported. His principal concern was the lack of transparency. I think that one of the biggest issues we've got right now is COVID is an excuse for everything. COVID is an excuse that we can spend money like billy-o and continue to spend it without the transparency that New Zealanders require. And certainly we've been trying to disaggregate the figures between how much has been spent on COVID-related issues and how much is baked in from the higher levels of Government spend often referred to as fiscal drag which is increases and costs of Government servants all that sort of stuff: the 10000 extra Government servants that we have at the moment—those types of examples. So to the question around the operating deficits. We're projected under the current arrangements to be $85 billion total combined deficits which we won't clear until 2027. Are we going to see a reduction of those? I hope we will Minister because if the economy is that strong the first question is: how do you stop those losses going forward as a Government? If we were a private household or if we were a business a bank would have put us under. The other thing about it is you say you want to stabilise debt. The first opportunity to find some savings—and you commented in your speech today that you found a billion dollars' worth of savings. Rather than say we are going to not spend the extra $10 billion we've got sitting in a—using my honourable colleague's term—slush fund and rather than spend it and you talked about spending it this morning why don't you save it? Because at the moment every day we borrow $110 million. We borrowed $110 million yesterday and we're borrowing $110 million tomorrow. So the issue is at what stage do you stop spending and calling it COVID-related expenditure? Because as we heard today that situation is—and you will continue to crow and I will continue to pick you up on this. If it's as good as you say it is you do not need to be running deficits. I'd have to ask you about a couple of the programmes that you put in place during the lockdown. The first was the Business Finance Guarantee Scheme. It had a budget of a half a billion for it. The very day that you introduced it the British Government—which is where you replicated its scheme; you nicked it from the UK government—you were announcing it in this House and the UK Government was actually eliminating it as a strategy because they knew it was a waste of time. That scheme is still open until 30 June 2021. Why don't you stop that scheme?The other one of course is the very large Small Business Cashflow (Loan) Scheme. That runs until 31 December 2023. Now I understand where businesses need to be supported like tourism. Why don't you start to focus you money into areas and industries that really need our help rather than just keep blowing it on wide-ranging initiatives? Let's focus on businesses that are really in trouble.