Macindoe Tim: Questions for Oral Answer — Questions to MinistersText is incorporated into the Bound VolumeMacindoe Tim: Questions for Oral Answer — Questions to Ministers[Sitting date: 19 November 2013. Volume:695;Page:14758. Text is incorporated into the Bound Volume.]3.TIM MACINDOE (National—Hamilton West) to theMinister of Finance: What progress is the Government making in building a more competitive and productive economy that supports more jobs and higher incomes for New Zealanders?Hon BILL ENGLISH (Minister of Finance): The Government is making good progress. A more productive economy will be able to support higher wages for New Zealanders. Yesterday Minister Steven Joyce and I issued the 2013 progress report for the Government’s Business Growth Agenda. This covers around 350 initiatives across capital markets innovation skilled and safe workplaces natural resources infrastructure and export markets. It is all focused on creating the conditions for business to invest another dollar and employ another person for jobs and growth and for the regions to take advantage of the enormous opportunities available to them. I would recommend that the Opposition reads the update to observe the significant progress the Government has made across a broad range of economic policy.Tim Macindoe: How many of the Business Growth Agenda initiatives have been completed?Hon BILL ENGLISH: There are a large number of initiatives because there is not one significant or even half a dozen significant policies that would transform this economy. Nearly half of the 350 initiatives have now been completed and 120 more are in the implementation phase. So for example 23 of the 55 export market initiatives have been completed. They include the first phase of the New Zealand Story improving New Zealand firms’ access to international markets and a range of initiatives to increase value from tourism and from our international education sector. Work has already begun to identify future priorities for the Business Growth Agenda—Rt Hon Winston Peters: What’s No. 7? What’s No. 8? All bulldust.Hon BILL ENGLISH:—and that member would be welcome to contribute.Tim Macindoe: According to the progress report issued this week what other progress is the Government making across the Business Growth Agenda?Hon BILL ENGLISH: There are so many things to pick from. We remain on track for surplus in 2014-15. The Government has completed two Government share offers and a third is under way putting billions of dollars into the Future Investment Fund for investing in new public assets—money that we have sourced mainly from New Zealand investors rather than the preferred option for the Opposition which is foreign bankers. We have established Callaghan Innovation and made $566 million in research and development grants available over 4 years. And we have announced the 10 National Science Challenges which have fully engaged the interests of the scientific community. There are dozens more initiatives but I do not have time to go through them.Grant Robertson: They’re so riveting!Tim Macindoe: Very good indeed. I am glad the member is enjoying them. How is progress with the Business Growth Agenda being reflected in recent economic indicators?Hon BILL ENGLISH: Reasonably well and I think rather better than the Opposition would have hoped. Economic growth is gaining momentum and we have one of the fastest-growing developed economies in the world probably in the top half-dozen. Unemployment is falling 53000 new jobs were created in the past year and wages and household incomes are growing moderately. We are particularly pleased with how well the regions have done leading New Zealand out of the recession. Most regions have stronger growth and lower unemployment than for instance our larger metropolitan area of Auckland.Dr David Clark: Does he believe that a more competitive and productive economy would result from destroying a proven animal productivity innovation hub surrounding Invermay Dunedin?Hon BILL ENGLISH: As the member will know the relevant research community—that is the scientists who provide and have done for many years the high levels of research and development for the agricultural industry—has been through a process to try to decide how to do a better job of what it does. Part of the task was for that research community to explain particularly to the rural community including those in my electorate just what the benefits of the changes at Invermay would be. I am sure that that will be a fruitful discussion.Dr David Clark: I seek leave to table the most recent report which theOtago Daily Times said blew the business case—Mr SPEAKER: Order! If that is a newspaper clipping—Dr David Clark: No no the independent report.Mr SPEAKER: Is it in the public arena?Dr David Clark: It is not as far as I am aware.Mr SPEAKER: It is not. On that basis I will take the member’s word for it and I will put the leave. Leave is sought to table that particular document. Is there any objection? Yes there is.