Sio Su'a William: Questions for Oral Answer — Questions to Ministers 
Sio Su'a William: Questions for Oral Answer — Questions to Ministers 
[Volume:649;Page:17836] 
1. SU’A WILLIAM SIO (Labour) 
 to the  
Minister of Finance 
: What reports has he received on alternative ways of promoting domestic savings? 
Hon Dr MICHAEL CULLEN (Minister of Finance) 
: 
 Despite the fact that this Government has radically transformed the savings environment in New Zealand in the last year with the introduction of KiwiSaver with over— 
Gerry Brownlee 
: They are all losing their money. They are all going broke. 
Hon Dr MICHAEL CULLEN 
: Not a single KiwiSaver account is going broke and that is about the most irresponsible thing I have heard from that member for an extraordinarily long time. He seems to be confusing finance companies and mortgage investment funds with KiwiSaver funds. Despite the fact that this Government has radically transformed the savings environment in New Zealand with the introduction of KiwiSaver with over 750000 New Zealanders signed up to it I have seen reports to suggest that KiwiSaver should be “adjusted” in order to make savings for tax cuts. That is one issue on which the National Party needs to front up publicly on its plans rather than relying upon the back-door method of cocktail parties or overseas ratings agencies to get its views out into the public arena. 
Su’a William Sio 
: Has he seen any suggestions for increasing the range of businesses that New Zealanders could invest their savings in? 
Hon Dr MICHAEL CULLEN 
: Yes I have seen a suggestion that the Government should partially float State-owned enterprises such as Kiwibank and the power generators so that New Zealanders can buy shares in these companies which of course we already own. That suggestion was made by Mr English on  
Agenda 
 last year and it confirms that rather than choosing his words badly what has emerged from the National Party conference is an unorchestrated litany of truth about what National really plans to do in the unlikely event that it ever has the chance. 
Hon Bill English 
: Has he seen the quote from the Minister for State Owned Enterprises on 13 July 2008 where he said: “Well I’m happy to have floats as long as it’s non core assets.” and is it the Labour Party’s policy to float non-core assets on the public market; if it is why is Labour getting so moralistic about any public discussion on this matter? 
Hon Dr MICHAEL CULLEN 
: The member should float non-core. If the member thinks that Kiwibank is a non-core asset that KiwiRail is a non-core asset that Transpower is a non-core asset that Genesis is a non-core asset and so on that is a very fascinating view and we have at last found the weasel words that National could use in Government to justify flogging off those State-owned enterprises. 
Rt Hon Winston Peters 
: With respect to the variable statements on Kiwibank has the Government received any reports— 
Gerry Brownlee 
: I raise a point of order Madam Speaker. Firstly you might like to consider whether the Minister is aware of what the nature of the question initially was. Secondly he of all people should know that that is not the way to start asking a question in this House. 
Rt Hon Winston Peters 
: How many times are you prepared to put up with this buffoon making pointless points of order? 
Madam SPEAKER 
: This is question time not statement time. Would members please note that so that everyone asks a question. 
Rt Hon Winston Peters 
: Having regard to the variable statements on savings— 
Madam SPEAKER 
: No I am sorry; please be seated. Start with a question not a statement. “Having regard” is a statement. Just ask the question please. 
Rt Hon Winston Peters 
: I have no difficulty in doing that by just rearranging the words to say on savings and the Kiwibank— 
Madam SPEAKER 
: No no please be seated. You are not turning today into a circus. Please be seated. Now if the member does not ask his question I will be asking him to leave the House. He knows how to ask a question; he should just ask it. 
Rt Hon Winston Peters 
: With respect Madam Speaker I am entitled to at least point to the subject I am about to ask my question on. 
Madam SPEAKER 
: Please be seated. The member knows that you ask a question. That question can of course contain that which you wish to know in terms of an answer but you start with a question. We have had this out in this House many times before. 
Rt Hon Winston Peters 
: What where when why and how did the Government learn of variable statements on Kiwibank and savings and has the Government ever received reports that would suggest that one deputy leader is undermining his leader in the way that happened to Muldoon and Marshall many years ago? 
Hon Dr MICHAEL CULLEN 
: I think it is fair to say that Government members have been glued to their television screens at 6 o’clock every evening watching TV3 as we watch the unfolding saga of the various statements that the National Party has made. But of course we were also fascinated with  
Close Up 
 last night when we learnt that Mr Key had no basis in fact for his accusation of Labour Party involvement in the leaking of the cocktail party - circuit rubbish or in the nonsense about the rubbish outside his electorate office.