Woolerton R Doug: KiwiSaver Bill — In Committee 
Woolerton R Doug: KiwiSaver Bill — In Committee 
[Volume:633;Page:4934] 
R DOUG WOOLERTON (NZ First) 
: 
 New Zealand First is pleased to be supporting Part 4 of the KiwiSaver Bill. 
Hon Members 
: Explain why. 
R DOUG WOOLERTON 
: I am happy to explain why New Zealand First did not support the amendment put forward by Jeanette Fitzsimons. People should know the way in which Parliament works. This is an example of the informality that the public does not see—the friendship part. Craig Foss came to see me and said: “Doug are you going to support Jeanette Fitzsimons’ amendment? It’s bunkum of course but are you going to support it?”. I said: “Craig you shouldn’t talk about Jeanette’s bill like that. She is serious about these matters.” He said: “I can’t help what she thinks but I’m telling you it’s bunkum.” I said: “OK fair enough we’re being honest with each other. Look mate I can’t support it because we’re happy with these provisions.” The select committee hammered out the bill. Unfortunately a couple of people got the jump on us and there now is a mortgage diversion scheme. But there are tax incentives for employers which we agree with. I told him that I could handle change as much as any man but three changes were too many. I told Craig that we could not support the amendment. 
People should know that he then said: “That’s OK mate. We just want to look good in the eyes of the less well-off. If you had said you were going to support it we would have run to the hills mate.” He added: “You know how it works in this place—the look is everything.” I know that John Key agrees with that and I know that many of his bench mates agree with that. One needs just to look at him to see—the look is everything. 
People need to know in the spirit of comradeship and all the rest of it that I am happy to admit I did not go along with the suggestion by the National Party and others that perhaps it was pushing the boundaries a little bit to have the default providers’ bids—as I call them—come in before the bill had actually come into the House. I did not know about the taxi; I have to admit that is something new. 
John Key 
: It’s true. 
R DOUG WOOLERTON 
: I am not saying it is not true. The member is a man of honour because the Speaker told me so. I did not know about that but it does not surprise me at all. It shows the eagerness with which people are flocking to administer KiwiSaver. But I must say I was a little bit concerned so I was happy that New Zealand First was mentioned as one of the parties that was concerned we had moved a bit fast on the default provider issue. I think we all tried as a select committee to have newer entrants to the financial market become involved—more entrepreneurial entrants perhaps. But sadly it does not seem that that will be the case. How many new entrants will we end up with—eight or something like that? 
John Key 
: Four to six. 
R DOUG WOOLERTON 
: It seems that they will be the old big companies that have been around for years. Personally as a dynamic member of a dynamic new party I would like to give encouragement to any new players on the block. We could not achieve that so I was happy to have my name put with those who showed a little bit of concern. 
 Mr Key is a gambling man. As a Presbyterian of Scottish heritage I cannot afford to be and it is against my religion and all the rest of it. But Mr Key can afford to be a gambler. I am not going to take up his challenge but he bets that changes will be made to the KiwiSaver scheme before the next election. He is probably right. I must say that when I get the  
Hansard  
of the debate I will go through it to check but I suggest that I said that in every little speech on every little part of the bill. The scheme is designed to have changes made to it and if it is in the interests of the public to change it changes will be made.