3. Question No. 3—FinanceHon MICHAEL WOODHOUSE (National) to the Minister of FinanceQuestion No. 3—Finance3. Hon MICHAEL WOODHOUSE (National) to the Minister of Finance: What actions if any does the Government intend to take in response to the Treasury report entitled He Tirohanga Mokopuna 2021: Consultation on the draft content of the Treasury's combined Statement on the Long-term Fiscal Position and Long-term Insights Briefing?Hon GRANT ROBERTSON (Minister of Finance): Given that there is a consultation under way on a draft document the initial action that I am taking is to read it and consider the feedback on it once it comes in. In terms of the issues raised within the report the Government is already taking action to provide security and certainty to New Zealanders.Hon Michael Woodhouse: Does the report's warnings about long-term debt projections cause him to reconsider spending decisions on projects such as the $785 million cycling bridge across Waitematā Harbour?Hon GRANT ROBERTSON: I note that the Treasury in the report do not express any concern about the current level of debt that the Government has nor is this report about current projects.Hon Michael Woodhouse: Will he commit to reductions in structural spending from the COVID-19 Response and Recovery Fund (CRRF) that have nothing to do with COVID response and recovery?Hon GRANT ROBERTSON: We will continue to use the COVID-19 Response and Recovery Fund for the words that are in the name of the fund—response and recovery—because that is what it's for. I repeat my earlier answer: the Treasury's report that this question is based on is not about the current spending with which Treasury is comfortable.Hon Michael Woodhouse: What does spending $710 million on three waters reform and the online pornography ad campaign have to do with COVID-19?Hon GRANT ROBERTSON: I think it would be pretty obvious to most New Zealanders that making sure we have an efficient system and effective system for the management of water which helps create jobs and lowers costs on New Zealanders is something that we'd welcome. Clearly on the other side of the House there is no interest whatsoever in making sure that our water system works well.Hon Chris Hipkins: Has the Minister of Finance seen any alternative proposals for the use of the CRRF funding such as spending all of the funding that was left on roads?Hon GRANT ROBERTSON: Yes I actually have done that and in fact that was a document that I do believe was produced by the Hon Paul Goldsmith which I think he dropped on the floor at one stage. But it's still probably there if members across the House want to find it.Hon Michael Woodhouse: Has he had a discussion with Treasury officials about whether the current net debt to GDP limit could be increased given their concerns about spending?Hon GRANT ROBERTSON: As outlined by the Treasury secretary in the speech that she recently gave she does believe that it is time to have a discussion now about New Zealand's debt levels. What we do know is that this is a Government that took our net debt under 20 percent of GDP something that the National Party was never able to achieve. We now have debt at a higher level because of COVID but it is forecast to reduce.