McNair Craig: Taxation (Venture Capital and Miscellaneous Provisions) Bill Taxation (Annual Rates of Income Tax 2004-05) Bill — Third Readings 
Text is incorporated into the Bound Volume 
McNair Craig: Taxation (Venture Capital and Miscellaneous Provisions) Bill Taxation (Annual Rates of Income Tax 2004-05) Bill — Third Readings 
[Sitting date: 14 December 2004. Volume:622;Page:17825. Text is incorporated into the Bound Volume.] 
CRAIG McNAIR (NZ First) 
: 
 New Zealand First opposes this legislation. The Government would have us believe that we have an economic boom going on in this country. We are now taxing individuals at up to 39c in the dollar on income of $60000 a year and over the company tax rate is 33c in the dollar and we have no tax incentives or concessions for our exporters our good old Kiwi battlers. Especially when the exchange rate of the New Zealand dollar is US70c I say that that is disgraceful. There is no economic boom as this Government would have us believe. That is what I honestly feel. 
The Minister of Finance and other Ministers including the Associate Minister of Revenue who spoke earlier jump up and down in this House and tell us how great everything is when they know that is a load of hogwash. Our dollar is worth US70c which is hurting our exporters. Young people and first home buyers cannot afford to buy houses. Our interest rates are among the highest in the OECD. They are nearly 7 percent here in New Zealand but the official cash rate in the United States is around 2 percent. I say that is disgraceful. Some journalists just take Michael Cullen’s word about the situation and they do not tell real New Zealanders the real facts of the matter—that is what I strongly feel today. We are continually sliding down the OECD rankings. Australia is way ahead of us. The average Australian earns about $120 a week more than the average Kiwi. I note that Matt Robson comes from Australia and if he had stayed over there and had not been part of this Government he could be earning on average an extra $120 a week. That I say has every relevance to this legislation because if the average New Zealander earns $120 a week less than the average Australian both the Government and individuals here in New Zealand are worse off. 
The Associate Minister of Revenue said about half an hour ago that this legislation would simplify taxation. Well I say this bill will complicate it. Earlier this year we saw the Income Tax Bill which was 2411 pages long go through the House. The Government said that that bill would simplify taxation. I say that that legislation complicated taxation and that is what the Government is doing today in this legislation—it is complicating tax not simplifying it. 
A little while ago Dr Cullen congratulated himself and the Government on the great things they have been doing as he always does. He pulled out his list of great things that the Government has been doing and indulged in some self-congratulation on the things he has been successfully—so-called—dishing out to the New Zealand public. I read an editorial about 2 weeks ago in the  
New Zealand Herald 
. It was about Dr Cullen’s long list and about the Government constantly telling the country what great things the Government is doing. This is what the editorial had to say: “Conveniently absent from his list were high export prices and the twin mountains of household and country debt …”. This country has a current account deficit crisis the like of which we have never seen before. It is badly in debt. We have a major major problem and it needs to be addressed by the Government in bills such as these—supported by the Progressive Coalition and supported by the United Future party. 
Edwin Perry 
: Poodle power! 
CRAIG McNAIR 
: That is right—poodle power. That is what the United Future members say when they are trying to get enough courage to vote for the Government. They just say: “Poodle power!” and they vote for the Government. 
A few weeks ago when we were voting on this very legislation—the Taxation (Annual Rates Venture Capital and Miscellaneous Provisions) Bill as it was then—in the Committee stage the vote was tied at 59 to 59. That night United Future could have taken this Government down. United Future could have stopped the Government from putting through the Civil Union Bill. This Government would not listen to New Zealand First when we said that issue should go to a referendum so that the people of this nation could decide on it. That is what United Future did: it let this Government ram that bill through. It could have taken this Government down when the vote was drawn at 59 to 59. 
Rodney Hide 
: So could New Zealand First. 
CRAIG McNAIR 
: No no. We do not have a carte blanche agreement with this Government; we do not have an agreement with it. I also remind that member that he has sometimes supported the Government on certain pieces of legislation. 
Rodney Hide 
: Say that outside the House! 
CRAIG McNAIR 
: I may just try to do that. Earlier when I spoke in the title debate on this legislation I said the bill should have been called the “Taxation (We Don’t Care What You Think Miscellaneous Provisions) Bill but unfortunately I was cut off by the bell. The reason I said that is that the Government does not care about what is going on for average New Zealand households when it relates to income income tax personal tax company tax small business compliance costs social issues—or whatever else. The Government does not care about those things. That is why I say that this legislation should have been called the Taxation (We Don’t Care What You Think Miscellaneous Provisions) Bill. That is what it is. Yet the United Future party which supports the Government could have taken the Government down on that night when the vote result was 59 to 59. 
In closing I want to refer the House quickly to the part of this legislation that concerns Maori authorities. When that legislation was first introduced a couple of years ago I put forward on behalf of New Zealand First a Supplementary Order Paper to allow that rate to be afforded to all organisations no matter what race was involved. Sadly that was voted down. We did not have a problem with Maori authorities getting a tax advantage—not at all—but we wanted all New Zealanders to get that tax advantage. That is what New Zealand First stands for. New Zealand First stands for people for representing all New Zealanders and for putting New Zealand first and foremost.