Goldsmith PaulHon PAUL GOLDSMITH (National): Thank you Mr Speaker. My pleasure to speak on this COVID-19 Response (Further Management Measures) Legislation Bill which the Opposition will support to the first reading and to select committee.I'm holding two copies of the bill here: this one here which I've picked up from the Table and this was the one that was sent to us last night and I'm glad—Hon Chris Hipkins: They're both the same. I can assure you they're both the same.Hon PAUL GOLDSMITH: I'm looking very carefully and there are 133 pages on each side and I've read them before and I do think they are the same law. That is a relief following the last piece of legislation. So I'm hoping that we are not inadvertently going to pass another several billion dollars of spending by mistake. You would think it was a laughing matter but it's not a laughing matter. Actually it's been quite a dramatic period that we've had in the House here where I think New Zealanders have understood that the Parliament and the Government has to respond swiftly to an incredible situation that we're facing with COVID-19 and the impact that it's having across the economy. So they do need to respond quickly and effectively but it is also important that the legislation that's brought before the House is properly scrutinised so that we can have a reasonable understanding of it and that system failed last week.But I'm hoping this piece of legislation which does a number of things which are designed to—well there's a whole heap of things but if I was to focus primarily on those activities that are trying to deal with some practical issues that business is having to deal with because of the consequences of the lockdown that we've had for coming up to the seventh week now and we've had a number of businesses that in the national interest have been told that they can't trade and so they've had very little revenue and that creates all sorts of problems as one can imagine—problems for paying the bills keeping a company solvent. That's a very difficult issue for directors of companies who obviously face very substantial legal threats and dangers if they are seen to be trading insolvently. But of course we don't want to have a situation made even worse where many businesses will fail many people will lose their jobs and so we're looking for practical ways. So the safe harbour provisions around insolvency-related issues duties and the business debt hibernation are practical things that we support and will make a difference around the edges. What they probably won't do sufficiently is make the sort of difference that a scheme to get cash in the hands of small businesses such as was suggested by the National Party today and Simon Bridges the National Party leader—which is to say let's have a look at the GST that you paid last year and allow businesses to get those payments repaid up to $100000. Cash in the hand would make a real difference to businesses right now. These provisions in this legislation will help a bit but certainly not on their own bring an end to the situation.The other thing that's being covered in this bill is changes to the company property law area where again we're seeing right around the country a lot of businesses struggling to pay the rent. We've had the Government's wage subsidy which has brought in a lot of money—$10 billion to help pay wages for people employed. That money I've heard the Prime Minister say a number of times and lots of other Ministers say is going to businesses when really that money is actually going to employees in order to keep them employed and to pay their wages. But the businesses themselves are still having to struggle with particularly rent and a whole heap of other costs interest costs and they've put out a whole new fit and all sorts of material that they've leased for the company to trade and there's costs associated with that.Now rent has been a real issue. Five weeks ago six weeks ago the Minister of Finance said he was going to sort it don't worry and an announcement is imminent. At one point we heard that it was going to be announced before Easter and Easter came and went and nothing happened. Then eventually a week or two ago they made this very underwhelming announcement that what they were going to do is extend the notice period before mortgagees can be thrown out—not mortgagees but also lessees in arrears to the landlord—so from a few days to a few more days. That was met with a great deal of disappointment right across the country.Again the best remedy to that is a mechanism to get cash directly into the hands of those small businesses affected. Now people might ask Well what's going on here? The National Party is in favour of giving cash out to businesses? I thought they understood that businesses had to stand on their own two feet." Yes indeed that is our general approach but what we're dealing with here is a situation where the Government on behalf of all New Zealanders has said "You cannot trade for seven weeks. You cannot sell your stuff. You cannot open your store and effectively do your business." That is an extraordinary situation one that we haven't really had in this country's history and that is why there is a very strong argument to support businesses properly. So this legislation in so far as it extends a period that leases must be in arrears before landlords can cancel leases is very much too little too late on that score and very much inferior to the policy that the National Party announced today.The only thing I'd also mention is changes to the Commerce Act around cartels. As a former commerce Minister I've always been interested in this and this is again a minor thing but not insignificant. We're in the heat of the battle as companies try and organise things to keep trading when they're under extreme limitations during this period. You now have the ability to go to the Commerce Commission to get an authorisation of an arrangement between companies and this legislation waives the application fee. So you know we're broadly comfortable with that and again it will make a slight practical difference to some parties.So all in all if I was to sum up this legislation we will go off and it will be considered by the Epidemic Response Committee and I'm grateful that it has a little bit of time—you'd probably want a little bit more time but we can understand the urgency here. These things in this bill will make a small difference but if you really want to save jobs and enable reducing the carnage amongst the small business battlers of this country then the best thing you can do is get some cash in their hands right now. So alongside this bill I'd encourage the Government to seriously consider changing their approach to that. Thank you very much Mr Speaker."