5. Job Creation and Unemployment—Effect of Government PoliciesHon AMY ADAMS (National—Selwyn) to the Minister of FinanceJob Creation and Unemployment—Effect of Government Policies5. Hon AMY ADAMS (National—Selwyn) to the Minister of Finance: Does he stand by all of the Government's statements policies and actions in relation to the New Zealand economy?Hon GRANT ROBERTSON (Minister of Finance): I stand by the economic statements policies and actions of the coalition Government when understood in their context and when reported correctly.Hon Amy Adams: Is he aware that in the first six months of the new Government's term job growth has more than halved from its rate of growth over the previous two years?Hon GRANT ROBERTSON: I don't have that information in front of me. What I do know is that unemployment has reduced to 4.4 percent—the lowest it has been in many many years.Hon Amy Adams: Well has he read ANZ's recent jobs report which states job growth has stalled and is starting to move in the wrong direction" and if so is he aware that the increasing cost of labour and compliance will make it more difficult for employers to take on new staff?Hon GRANT ROBERTSON: I've certainly read the ANZ jobs report and what I can say from that and other data is that the economy continues to grow. We are transitioning away from an economy that relied under the previous Government on population growth and housing speculation. That's not sustainable. That has supressed wages. This Government's going to make sure that everybody gets a fair go in that economy.Hon Amy Adams: Well does he accept that business has genuine concerns that the Government's industrial relations reform will make it harder for them to employ staff or does he agree with his colleague Mr Lees-Galloway that they're just scaremongering?Hon GRANT ROBERTSON: I've heard concerns expressed by members of the business community about the Government's changes. What we're working towards is an environment of industrial relations that's fair that actually gives people access to things like lunch and dinner breaks. Once again we can confirm where the moral compass of the Opposition sits when it comes to people actually getting lunch and dinner breaks.Hon Amy Adams: Given the employment rate was so low when this Government came into office and there has never been a tension between unemployment and inflation since the Reserve Bank of New Zealand Act came into force nearly three decades ago why is he introducing changes to the Reserve Bank Act to create a dual mandate?Hon GRANT ROBERTSON: What we want is for monetary policy just like every other aspect of our economic framework to contribute to the growth of a more productive and more sustainable economy. We will continue to make sure that the Reserve Bank has a focus on inflation but at the same time we want it to look after how the real economy is operating. Employment is a good proxy for that. Many other countries in the world use it and in fact those countries that have a dual mandate with both inflation and employment tend to keep inflation under control better than those with a single mandate.Hon Amy Adams: In light of Statistics New Zealand's release today showing that low-income households' second and third most expensive weekly items are food and transport why are Ministers in the Government promoting regional fuel taxes that will hurt the poor the most and specifically increase the price of food and transport?Hon GRANT ROBERTSON: We've already heard from the Minister of Transport many times that on average it'll affect a family in Auckland by $5 a week. At the end of this Government's project they will have a functioning transport system that will improve productivity in that city by more than $1 billion a year. I'm sorry to say to the member that her Government's nine years of neglect of transport infrastructure has come to an end."