3. Question No. 3—FinanceHon PAUL GOLDSMITH (National) to the Minister of FinanceQuestion No. 3—Finance3. Hon PAUL GOLDSMITH (National) to the Minister of Finance: Does he stand by all of his policies and statements? Hon GRANT ROBERTSON (Minister of Finance): Yes in the context in which they were made and given. In particular I stand by my comment yesterday that We are getting on with the business of Government. We are positive about the future of New Zealand and we're focused on the issues that matter to New Zealanders." Hon Paul Goldsmith: How can he stand by his statement from October last year that "The New Zealand economy is in good shape." when just yesterday the Reserve Bank lowered its annual GDP growth estimate for 2019 to just 1.6 percent? Hon GRANT ROBERTSON: In answer to the first part of that question I can say that because New Zealand's growth rates continue to outperform those of many advanced economies. We have unemployment at historically low levels of 4 percent. We have debt for the Crown at historically low levels as well. We've run surpluses. We're spending money in the parts of the economy that will stimulate jobs and growth. So I can say with confidence that the New Zealand economy is in good shape. Hon Paul Goldsmith: So does 1.6 percent growth in 2019 mean that per person we didn't grow at all last year? Hon GRANT ROBERTSON: Again the member is using a figure that includes a projection for the December quarter. We'll wait and see where that ends up. What I do know is on the official figures that we have New Zealand's growth continues to outperform most advanced economies. Hon Paul Goldsmith: How can we afford higher wages better healthcare and better public services when the economy is not keeping up with population growth? Hon GRANT ROBERTSON: Again the same question. I think the member has got assumptions in his question that are not yet proven. What I would say is that the economy is sustaining that. In a period in which we had around 2.7 percent growth we also saw wages increase by around 3.5 percent. That's catch up I might here add on 10 years where New Zealanders saw very few benefits of economic growth; under this Government they are. Hon Paul Goldsmith: Well does he agree that ultimately higher wages are not sustainable if the economy is not keeping up with population growth—as it didn't in 2019? Hon GRANT ROBERTSON: What I do know is that higher wages are for New Zealanders the benefit of their hard work and their dividend from the prosperity of New Zealand. Of course we need the economy to continue to grow at sustainable rates and as I said we continue to grow at a faster rate than many of our trading partners. This is a time to be positive about the economy not just normal "Negative National". Hon Paul Goldsmith: Does he accept that families will ultimately be less financially secure if the economy is not keeping up with population growth—as it didn't in 2019? Hon GRANT ROBERTSON: It's been a goal of this Government from the day we entered here to make families more secure. It's the very reason why we put in place a Families Package with $5.5 billion to lift the incomes of low and middle income New Zealanders. It's why we're pleased that we are seeing the wage growth that we're seeing. We always aim for solid sustainable growth and in New Zealand we can say we are ahead of the curve internationally but I am proud of a Government that is delivering a dividend to working New Zealanders through wage growth. Rt Hon Winston Peters: If the economy keeping up with population growth was the concern does the member have any comparison between 2018 2019 and this year compared to the years of 2014 2015 2016 and 2017 when we had all-comers' records coming into this country? Hon GRANT ROBERTSON: While I don't have the exact figures to hand for that what I can say for sure is that in those years we saw net migration at record high levels. It would be fair to say that at that time one of the things a responsible Government might have been doing was actually building the infrastructure that was needed to support that kind of population growth. We saw none of that. That's why the New Zealand—SPEAKER: Order! Order! There is a limit to the free hits from a supplementary. Hon Paul Goldsmith: How is it possible that a country with historically high export prices and a Government able to increase spending significantly can stall like New Zealand did in 2019? Hon GRANT ROBERTSON: I reject the premise of that question."