Woolerton R Doug: Supplementary Estimates — Imprest Supply Debate 
Woolerton R Doug: Supplementary Estimates — Imprest Supply Debate 
[Volume:648;Page:16849] 
R DOUG WOOLERTON (NZ First) 
: 
 New Zealand First agrees with Dr Cullen and with the Hon Annette King for that matter. We would like to see some policy from the National Party as well. But that is not what I want to talk about. I want to talk about some of the things that Dr Cullen mentioned when he talked about a great future. I believe as he does that we have a downturn at the present time. We have a downturn in front of us but Dr Cullen does not believe it will be a recession. I say that is yet to be tested but it will certainly be a downturn. But following that things are looking great for our exporters. He said and I think he was very very positive that we are looking better than we have looked for 150 years. I am not quite as old as Dr Cullen obviously but I have to say that in my lifetime the situation has never looked better than it does at present on the exporting front. 
In New Zealand First we have a concern because we will not be the only people who can work that out. We know that the people in China and India—people with whom we have no problem; we are not anti-Chinese anti-Indian anti-Russian or anti any of those sorts of people—do not intend in the future to pay world prices for their food. They do not expect to pay world prices for their inputs into food or into anything else. They intend to come out here and one way or another take control of the source of supply. In New Zealand First we say that is what we would do too if we were them. So our concern is that New Zealanders—New Zealand farmers New Zealand producers New Zealand exporters and New Zealand citizens—enjoy the fruits of their labour and enjoy the benefits of the profits that are before us. We must resist at all costs those countries coming over here just when things are going to get good for us and taking a slice of the action for themselves. We in this House must always remember that we are elected on behalf of New Zealanders—not on behalf of the Chinese the English the Americans or anybody else but just New Zealanders—and that that is whom we must represent. 
We in New Zealand First are also concerned—and it was interesting to read the Reserve Bank of New Zealand forecast which is quite gloomy and which brings to the fore an issue that we have been on about for many years—about the changes to the Reserve Bank of New Zealand Act. I have quite a big report here from Business and Economic Research Ltd which states that we could be looking at job losses in the region of 95000 in the next 3 years and we could be looking at losses to the economy in the vicinity of $7.4 billion if we just keep the focus on inflation and nothing else. Business and Economic Research Ltd says as we say that we are missing out on the benefits of our hard work. Many of the benefits of our hard work are going to overseas lenders and overseas investors and in fact if we are not careful they will go to overseas owners of our sources of production and to the people who manufacture our products at the final stages. 
Sue Kedgley 
: That’s quite right. 
R DOUG WOOLERTON 
: I recognise Sue Kedgley who says that I am right. I agree with her—she has been saying similar things. 
We must make changes to the Reserve Bank of New Zealand Act and the Business and Economic Research Ltd report states that we should ensure it is not just inflation that we are worried about in this country but also employment exporting and the cost of our dollar—in other words the level of our dollar apropos that of the currency of the countries we are exporting to. If we do not take into consideration those issues other people will reap the rewards of our hard work. We have not been through the hard times that I have seen in my lifetime and that others who are out there beavering away have seen in theirs to see the benefits flow offshore. We like the Greens and like Sue Kedgley are sick of seeing substandard products—agricultural products for Heaven’s sake—coming into this country when we ourselves can produce those products at a better quality and at a better price and can ensure that our people actually know what they are consuming. We have backed legislation in that regard and we will do so into the future as well. 
I heard Dr Cullen talk about the extraordinary rise in the price of oil. I do not see anybody in this country going across to buy a chunk of the oilfields be they in Canada Saudi Arabia or anywhere else. I suggest to you Mr Assistant Speaker and to the House that if we tried to do that we would not have a snowball’s chance of getting in the door because those countries know that the way to maximise one’s profits and maximise the benefits to one’s country is to wrap it up tight and not let anybody else in. We are at the wrong end of that situation but we can be at the right end of the coming boom in agriculture and food products—not to rip people off but just to make sure that we as a low-cost provider can do that ship our products to foreign markets and provide the very best that we can offer those markets at a reasonable price. But that price is going to be far better than it has been in past years. 
This Business and Economic Research Ltd report is quite sad in so far as it paints quite a dismal picture in the short term. It criticises those things that have made that come to pass. It states in black and white that our concentration on one target for the Reserve Bank is costing us in this country big time. We have said that and it is pleasing to see that stated in a report of such depth and length. We say that if we continue in that way we will not be as wealthy as potentially we could be. Even today we are not as wealthy as potentially we could have been. There is no reason for us with the coming boom just around the corner to be shedding jobs. We should not be looking at a downturn of the magnitude that I think we are seeing here. We have seen an economy that favours importers we have seen an economy that favours consumption and we have seen an economy that punishes exporters and producers. That cannot be right. New Zealand First intends to continue the fight to get the Reserve Bank of New Zealand Act widened so that it can be more favourable to our exporters thus returning better profits to our producers and through them to our citizens God bless their souls. 
Sitting suspended from 5.58 p.m. to 7.30 p.m.