3. Economy—Business ConfidenceHon AMY ADAMS (National—Selwyn) to the Minister of FinanceEconomy—Business Confidence3. Hon AMY ADAMS (National—Selwyn) to the Minister of Finance: Does he think it reflects well on the Government's economic management that the ANZ business confidence index is at its lowest level since 2008 and the ANZ own activity index is at its lowest level since 2009?Hon GRANT ROBERTSON (Minister of Finance): Malo e laumalie. It is a reflection of the Government's economic management that we have a strong surplus net core Crown debt is low unemployment is low and as at yesterday our annual terms of trade are the best they have been since records began in 1926. The business confidence survey the member refers to is a reflection of a range of factors including global trends skills shortages and business-specific policy issues all of which we are committed to working with business on.Hon Amy Adams: Does he acknowledge that the sharp declines in business investment intentions export intentions and hiring intentions seen in the most recent survey provide a clear indicator of further slowing in our economy as noted by the ANZ? Hon GRANT ROBERTSON: No I don't accept that and indeed the terms of trade numbers yesterday make clear that—particularly around exports—that's not the case. Hon Amy Adams: Is he aware that one of the only measures in these business confidence surveys that has remained positive since the Government has come into office is the number of businesses who expect to be raising their prices? Hon GRANT ROBERTSON: I note that in this survey 76 percent of businesses expected their own activity to improve or remain the same over the next year which I think is a slight tick up. Hon Amy Adams: How will the Government's recently announced Business Partnership Agenda give hard-working small businesses confidence and the certainty the Prime Minister promised them when 15 of the 26 policies in that document are working groups with uncertain outcomes? Hon GRANT ROBERTSON: Well the small business sector can have confidence that we're introducing e-invoicing and closing loopholes around GST and there is just a small irony in the member's question in that the one thing her leader decided to do was set up a working group on small business. Hon Amy Adams: Does it reflect well on the economic management of the Government that the New Zealand Institute of Economic Research's (NZIER's) latest forecasts have the New Zealand economy $9 billion smaller in 2022 than was forecast just three months ago and will he take any responsibility for this? Hon GRANT ROBERTSON: I certainly won't take responsibility for NZIER's forecasts and the fact that they've chosen to revise them. What I would say is that most forecasters still believe that we will have 3 percent growth on average over the next few years.Hon Amy Adams: Does it speak well of the Government's economic management that the Minister ignored Treasury advice when he decided to move $6 billion of debt to Crown entities in Budget 2018—costing taxpayers tens of millions more in unnecessary interest costs—simply to give the illusion of meeting his own Budget responsibility rules?Hon GRANT ROBERTSON: I can quote no better expert on this than a former associate finance Minister who when exactly the same facility was introduced said we believe that external financing will deliver additional commercial discipline for Housing New Zealand." I agree with Amy Adams about that."