Hudson BrettBRETT HUDSON (National): It is said that economics is the dismal science and it is true that Fletcher Tabuteau has told us all that he has an economics background. But I have to say listening to the members on the other side this afternoon it is clear that they are all aspiring economists doing their very very best to talk down New Zealand to talk down the opportunities for New Zealanders and to cherry-pick figures out of thin air to try to show that things are not as good as the facts actually point out. The reality is that the backdrop of the 2016 Budget is set against sustained solid economic growth and Treasury is forecasting stronger growth to come. So it is forecasting for instance that over the coming year real GDP will rise 2.9 percent—Sarah Dowie: How much?BRETT HUDSON: It will rise 2.9 percent—thank you Ms Dowie—and in the 5 years out to June 2020 it will average 2.8 percent. That is solid and sustained growth. But more than that there were 200000 more people in work over the last 3 years and Treasury again is saying that a further 170000 jobs are expected by 2020. In that same period the average wage is forecast to rise to $63000 a year. That is $16000 more than when National took office. This is also set against a backdrop of record low inflation where basically the news headlines are saying that inflation is effectively zero. It is not quite but they are saying it is effectively that. Interest rates are also at 50- or 60-year lows. The Opposition tries to tell us that people are going backwards. People are not going backwards; they are going forwards at a great rate of knots under this National Government. Let us keep the good times rolling for all New Zealanders. But on top of that I also have to point out Mr Shaw's comment. It was a newsflash moment. He was talking about electric vehicles and how bus lanes will not help. Mr Shaw a Green MP stood up in this Chamber and said that bus lanes do not work.Simon O'Connor: What?BRETT HUDSON: He said that bus lanes do not work. Of course the main reason for having bus lanes is that having a dedicated lane where that traffic can flow more freely will motivate people to take that form of transportation. But Mr Shaw said it will not work. So—newsflash—bus lanes do not work well. It is an interesting headline for tomorrow's Dominion Post. Perhaps we should just get rid of them all in Wellington according to Mr Shaw. But back to the Budget. Looking forward why Treasury is saying that the economy will grow so strongly is because it knows that this Government has plans particularly around an innovative New Zealand economy—diversifying in addition to our traditional primary sector strengths. We do not believe that a country or an economy is a zero-sum game. We believe that we can continue to have strength in our primary sector while also diversifying and growing strengths in other areas such as ICT which is my background. This is an industry that incidentally in export terms has been growing at about 13 percent per annum and even the complete sector including domestic has grown at 9 to 10 percent year on year which is great news. This Budget saw an investment of $761 million for an innovative New Zealand. I am very very pleased to see investment in both applied but also very basic foundation research. As we can all understand the private sector will have incentives to get involved in applied and experimental research because there you can see a much stronger link to a commercial outcome. The work we have been doing with Callaghan Innovation as research and development performers and also as grant administrators is helping to motivate those companies to invest more of their own cash and their shareholders' equity into research and development particularly in those areas where they can see the link to a commercial product. But it is still important for us as a country that we do not lose sight of that most basic research—research that traditionally has been performed by universities both in New Zealand and also in other countries—and that has been funded by Government because of that non-clear link to a commercial outcome. I am very pleased to see for instance the additional $66 million over 4 years into the Marsden Fund. I have heard representations from the Institute of IT Professionals that would like us to lobby for the Marsden Fund to prioritise some more of that research into ICT areas. Given my background I am very pleased to champion that. Another area of infrastructure that I want to touch upon as I conclude is ultra-fast broadband. This is opening up opportunities for New Zealand businesses and New Zealanders and 2.4 million New Zealanders can now connect. The build is almost at 70 percent—great news.