2. Question No. 2—Prime MinisterHon SIMON BRIDGES (Leader—National) to the Prime MinisterQuestion No. 2—Prime Minister2. Hon SIMON BRIDGES (Leader—National) to the Prime Minister: Does he stand by all of his Government's policies and actions?Rt Hon WINSTON PETERS (Acting Prime Minister) Sometimes no.Hon Simon Bridges: Does he agree with David Parker that business confidence surveys are junk?Rt Hon WINSTON PETERS: In the way that I just heard a most credible report from the IMF—so independent and so far removed from New Zealand written in the main by the executive director for New Zealand Grant Johnston formerly of John Key's economic advice office—yes I do agree with Mr Parker's wise comment.Hon Simon Bridges: Does he disagree with senior bank economists in New Zealand who've said on the back of plummeting business confidence that the Reserve Bank will need to revise down the GDP growth outlook and when it comes to what firms are saying about their own activity it's a case of ignore this information at your peril."?Rt Hon WINSTON PETERS: Again Mr Robertson the finance Minister very clearly put out in the most succinct and abbreviated and learned fashion that the IMF disagrees with those comments. They forecast 3 percent growth for the next five years—all right? I hope that member's still around.Hon Simon Bridges: So are the ASB the BNZ the Westpac and the ANZ economists wrong about these?Rt Hon WINSTON PETERS: Can I just say that those accounts written by in the main offshore Aussie-owned banks are not in the best—Hon Gerry Brownlee: So is the IMF.Rt Hon WINSTON PETERS: No no. The IMF Mr Brownlee is not owned by the Aussie banks. That was your mistake the last time you were in Government.Hon Gerry Brownlee: I raise a point of order Mr Speaker. I never made any such allegation. That's besmirching my reputation. The reality is that the IMF operates out of Washington DC.Mr SPEAKER: Order! The member knows that is not a point of order. It's—Rt Hon Winston Peters: That's ridiculous.Mr SPEAKER: I suppose that balances it up doesn't it—sort of ridiculous each side.Hon Simon Bridges: Does he accept his Government's policies such as many working groups labour law reforms high fuel taxes and the shutdown of oil and gas are creating uncertainty in cost and played a role in plummeting business confidence and in the declining GDP growth outlook?Rt Hon WINSTON PETERS: Can I tell that Leader of the Opposition that there are two very countervailing comments from the market. One is from the mass majority of New Zealanders who are workers and work confidence and employment confidence has never been so high for a long long time. And then at the other end of the spectrum people that are thought—Hon Gerry Brownlee: That's why they're striking!Rt Hon WINSTON PETERS: No no look; can you just listen because you'll learn something I assure you. Perhaps not you Gerry but the rest will. Can I just say at the other end of the spectrum you have the stock market which is back at the new record today as I speak.Hon Simon Bridges: When you told journalist Richard Harman that "the coalition Government will not 'blink' like the Clark Government did when it was faced with the 'Winter of Discontent' loss of business confidence in 2000; and said "I believe that some people lost their nerve in that administration and that sadly affected the shape of their economic direction. That was disappointing because they had a chance to do much more in terms of structural change to the economy and they didn't do it." what structural change to the economy does he believe is required?Rt Hon WINSTON PETERS: The very structural change that you are seeing from a very visionary Government in 2018.Hon Simon Bridges: What is that?Rt Hon WINSTON PETERS: Well I can only say things slowly. You'll have to wait. Shouting out "What is that?" after I tell him what its nature is won't do and I'm sure his PR advisers have told him to act more leader-like than that stand up more slowly be more careful and try to be a gentleman. Now if I can help that member the reality is that this Government is setting out on some serious structural change; namely to no longer neglect infrastructure to ensure that the provinces have their real day in this country to ensure that the ordinary people are the stakeholders in our future—in short to grow this economy and make sure that the mass majority not the elite few are the beneficiaries.Hon Simon Bridges: So in terms of the core economic macroeconomic and prudential policy settings and structural change what was he referring to?Rt Hon WINSTON PETERS: As Ricky Martin would say macro micro inside upside the whole lot.Hon Simon Bridges: When he said to Anika Moa that the blame started in July 1984 when the free market a massive experiment took over with devastating consequences what policies would he implement to take us back to before then?Rt Hon WINSTON PETERS: Thank you for raising the Anika Moa programme. I think it's the most popular programme they've ever had on television of late for that night anyway. But the point I was making—and I was making it very clear to her—was that as Rogernomics was beginning here a man called Keating under leader Bob Hawke who knew the market in Australia was starting. One country took incremental change; the other country had a revolution. The Australians grew 35 percent in real terms greater than us and imagine what a country we would have been if it hadn't been for the myopic neoliberal nonsense that his party inherited even though their best leader at the time told them not to; namely yours truly.Hon Simon Bridges: Given his statements about the need for structural reform and given the free market experiment has clearly failed in his view since July 1984 does he believe a more command-and-control economy is required?Rt Hon WINSTON PETERS: The present Government strangely enough shares a view of the then National Party leader Jim Bolger who defended the neoliberal experiment but in a recent television interview said that it was wrong; the policies simply didn't work. Hon Member: What would he change?Rt Hon WINSTON PETERS: Well what we've changed is we have our Damascus experience before we start off not when we end off.Hon Simon Bridges: Given that he said though that structural change is required that that experiment failed and that more changes are needed—well just what are they?Rt Hon WINSTON PETERS: Well they were outlined by the Minister of Finance today. He talked about research and development. The IMF recognises that. He's talking about the provincial recovery and infrastructural investment. The IMF referred to that. The IMF even said that the foreign ownership controls on housing would help the housing situation in New Zealand—all those things there. And I want to know why the National Party economic adviser at the time who is writing this report was ignored by the National Party that paid him.Hon Simon Bridges: Is he concerned that his Government has implemented and proposed policies that will increase the cost of living for New Zealanders by over $100 a week?Rt Hon WINSTON PETERS: We are not concerned by the constant repetition of the figures and predictions that we've disproved in all the days and all the weeks since that member started raising them. It was rubbish then and it's rubbish on 18 July 2018.Hon Simon Bridges: What does he say to Treasury analysis that 1.7 million families—that's 75 percent of New Zealand families—will be worse off by $17 per week as a result of his Families Package compared to the previous Government's package which he repealed? [Interruption] Rt Hon WINSTON PETERS: No no—I don't have to look at Mr Robertson for an answer to that because the proposition is baseless without any foundation. That member has had that debunked every day he's asked the question but he keeps on asking it. Hon Simon Bridges: Does he agree with Treasury's analysis that 1.7 million families—that's 75 percent of New Zealand families—will be worse off by $17 per week as a result of his families income package compared to the previous Government's package which he repealed?Rt Hon WINSTON PETERS: Again the July offensive that that member is seeking out to make sure is his salvation as a leader by 18 July is not going to work. We know the inner machinations of the National Party and this doomsday critique of the Government is not going to be successful because what the member has just said is false. Hon Simon Bridges: Well if he said "doomsday scenarios from the Opposition" why did he say that dark clouds were coming when he formed the Government back—what was it—in November last year?Rt Hon WINSTON PETERS: Because some of us can actually read into the future around the corner. [Interruption] I'm the only person in this House who predicted that Trump would win and Brexit would be successful—not after the event. That was said back then because I had a sense that there was going to be a long hot summer that it would affect the economy—and there's been a downturn. Then you've got the dispute between Trump and the Chinese—that may have an effect on our trade. So it's always wise to understand the people and surroundings you're dealing with. That's why I said that.Hon Simon Bridges: What then will be the growth figures for the next couple of years?Rt Hon WINSTON PETERS: As the IMF was at pains to point out if it's going to be 3 percent for the next five years it's just quite possible it'll be 3 percent every year or thereabouts. Hon Paula Bennett: Thank you for the Winston show!Rt Hon WINSTON PETERS: No trouble; it's free.Mr SPEAKER: I just want to check that the Acting Prime Minister and the deputy leader of the National Party have finished. I'd just like to make one other suggestion and that is that when the leader is asking questions if the deputy leader doesn't interject or wave her arms around it means that people get a clearer understanding of what the leader is asking."