Woolerton R Doug: Taxation (KiwiSaver and Company Tax RateAmendments) Bill — Second Reading In Committee Third Reading 
Woolerton R Doug: Taxation (KiwiSaver and Company Tax RateAmendments) Bill — Second Reading In Committee Third Reading 
[Volume:639;Page:9450] 
R DOUG WOOLERTON (NZ First) 
: 
 New Zealand First supports Part 1 of the Taxation (Annual Rates Business Taxation KiwiSaver and Remedial Matters) Bill and I am delighted to hear about the National Party’s interest in the people of Otara. I am a bit saddened about the way that National members speak about them as though they are an uneducated bunch of people who cannot work things out for themselves. The National Party I used to belong to many years ago actually did know about the people of Otara and it would have supported tax cuts for companies because it would have wanted to help companies to stay in New Zealand. It would have wanted New Zealand to be competitive with Australia. It would have wanted our companies to be competitive even in Europe but competitiveness with Australia was just a given. So I cannot believe that the National Party has come to a point where it cannot support the reduction of taxation for companies and cannot support the reduction of taxation as contained in Part 1 of this bill for what I call savings institutions—I presume that people understand what they are—which is where the money from KiwiSaver will be kept looked after and hopefully will grow. 
I cannot believe that the National Party is opposing those things because it is through investment in our businesses that we all do better. The people who are leaving our country are to me absolutely a sign that some policies of past years have failed. I think that is a market signal that we can all work out. I think it is quite obvious. Furthermore that market signal has been there for many many years now. We have all talked about it and recognised it. It has been talked about in the Chamber but this is the first Budget that recognises it and attempts to go some way towards catching up with the taxation regime for businesses in Australia and the trading regime in Australia. 
The Opposition promotes itself as the so-called business-friendly party so it is rather amusing to hear National members say on the one hand that Australia is a great place—where the employer’s contribution to the compulsory scheme equates to around 9 percent of labour costs whereas the KiwiSaver scheme will be in the region of 1 percent—and on the other hand that they oppose the bill. That cost of about 1 percent is laudable and it should be applauded in the Chamber. I also make the point that I have not heard one National Party member say that National would get rid of either the KiwiSaver scheme or the taxation reductions proposed in this bill. I suggest most strongly that is because National does not intend to get rid of either. 
New Zealand First is prepared to be quite upfront and to welcome the KiwiSaver scheme. We welcome the company tax deductions. We would like to see as I am sure Mr Peter Dunne would want to see further cuts in company taxation. This bill is a first step and if we learn anything in this place we know that change is incremental. When change is not incremental people cannot cope with things. 
David Bennett 
: Tell that to superannuitants. Are you going to means test them? 
R DOUG WOOLERTON 
: I tell Mr David Bennett that New Zealand First will make an issue out of superannuation at the next election. I challenge him and the party he is a member of to tell the people of New Zealand what National would do about superannuation if it were to become the Government at some stage.