5. Question No. 5—FinanceHon PAUL GOLDSMITH (National) to the Minister of FinanceQuestion No. 5—Finance5. Hon PAUL GOLDSMITH (National) to the Minister of Finance: What are the assumptions behind the estimated $5.1 billion cost of the Government's COVID-19 wage subsidy scheme; in particular how many workers does the Government estimate will be subsidised by the scheme?Hon DAVID PARKER (Associate Minister of Finance) on behalf of the Minister of Finance: The estimated cost of the Government's 12-week $5.1 billion wage subsidy scheme to support jobs and businesses assumes approximately 50 percent of employers including the self-employed and sole traders take up the scheme. That estimates approximately 270000 employers and self-employed and sole traders taking up the scheme. This is comprised of approximately 10000 larger employers with greater than 20 employees and approximately 260000 employers with fewer than 20 employees or self-employed sole traders. Accordingly the $5.1 billion package was estimated to directly benefit approximately 750000 working New Zealanders but of course the wider macroeconomic impact will clearly be larger.Hon Paul Goldsmith: So what percentage of businesses in New Zealand would have to apply for their full entitlement of up to 21 full-time workers for the $5.1 billion to be spent?Hon DAVID PARKER: Sorry; could the member just repeat that question?Hon Paul Goldsmith: So roughly what percentage of businesses in New Zealand would have to apply for their full entitlement of up to 21 full-time workers for the $5.1 billion to be spent?Hon DAVID PARKER: In the answer that I gave the estimate is that of the 270000 employers self-employed and sole traders who take up the scheme 260000 of them will have 20 or fewer employees or be self-employed or sole traders.Hon Paul Goldsmith: Is he assuming that virtually all businesses of fewer than 20 employees will face a 30 percent drop in revenue in order to qualify for the scheme?Hon DAVID PARKER: No. I think it's clear that it seems to be others that are suggesting that every wage and salary earner in New Zealand should have their earnings guaranteed by the Government. If that is indeed the position of the Opposition they should confirm that to the media.Hon Paul Goldsmith: Did he consider devoting a greater proportion of Tuesday's economic package to urgent relief to businesses and their workers so that they could save more jobs now? Hon DAVID PARKER: I'm advised that by earlier today already 16200 applications for wage subsidy have been received together with 676 COVID-19 leave applications. I'm further advised that these applications collectively cover more than 50000 working New Zealanders and that some payments have already been made and more have been authorised. I believe that this is an incredibly fast start by the Public Service and I'm confident that I speak on behalf of the whole of this House to commend them. Hon Paul Goldsmith: Why will he not release the Cabinet paper today so that we can understand the workings behind it all? SPEAKER: No I'm going to ask the member to rephrase the question. There's an assumption in the question which hasn't been established by the facts. He will not"—I mean that's a for ever thing. Hon Paul Goldsmith: Will he release the Cabinet paper behind the economic package today? Hon DAVID PARKER: As the Deputy Prime Minister on behalf of the Prime Minister today has noted we are endeavouring to be transparent in respect of these issues. I think we have been open as to the primary question and the detail that the member has provided. If he wants some further statistical information we're willing to consider that. In respect of the release of the overall papers that will be dealt with in accordance with the law. Kieran McAnulty: What has been the response to the support package from leaders in areas heavily dependent on tourism? [Interruption] Hon DAVID PARKER: The—SPEAKER: Sorry can I just interrupt and ask who's got something that's dinging in here? [Interruption] Can I ask the people in the immediate vicinity of the Deputy Prime Minister to—there's a dinging that's occurring that even I can hear. So can everyone in this general area make sure that their phones are turned off. Right the Hon David Parker. Hon DAVID PARKER: I think you might have pinged the wrong person sir. SPEAKER: I said in the general area. Hon DAVID PARKER: Oh thank you—thank you sir. The Wānaka Sun reports that the Queenstown Lakes District Mayor Jim Boult has welcomed the package saying "Minister Robertson and his government colleagues are to be congratulated for recognising the pain that coronavirus has brought to the industry and New Zealand generally but in particular to our district. We applaud this and thank the government for their swift intervention." and he also notes the significance of the Reserve Bank announcement on interest rates also this week. Hon Paul Goldsmith: Why will he not release the Cabinet paper behind the economic package today? Hon DAVID PARKER: I'm sure the Cabinet paper will be released. Rt Hon Winston Peters: As a precedent can he recall any former time when such a request was made in this House and met? Hon DAVID PARKER: I don't recall the detail of the incidents around the Christchurch earthquake or the Kaikōura response but I am sure that the methodology and the time frames that were met in respect of those incidents by the Public Service—who is the one that processes these requests—will be similar to the response by this Government. Hon Paul Goldsmith: Does he not consider the very rapid-moving situation that we're facing does justify getting as much information out in the public domain so that New Zealanders can understand the basis upon which these major economic decisions are being made? Hon DAVID PARKER: The Public Service is concentrating on enabling the businesses—and be they self-employed or employees the Public Service is focusing on getting them the help that they need not the release of the paper to the Opposition which none the less will be handled promptly and in accordance with the law."