2. Dr the Hon LOCKWOOD SMITH (National—Rodney) Link to this
to the Chairperson of the Finance and Expenditure Committee
What progress has been made on the inquiry into the future monetary policy framework?
CHARLES CHAUVEL (Chairperson of the Finance and Expenditure Committee) Link to this
I am pleased to report that the committee has made sound progress on this inquiry. We have completed hearings. We heard from a wide range of interested parties and experts on matters relating to the inquiry. We have also spent time with our advisers to plan the timetable for considering the evidence and the issues raised during the hearings. The committee is optimistic that it will be able to complete its consideration of the inquiry by March 2008.
Dr the Hon Lockwood Smith Link to this
Can he confirm, under the terms of reference requiring the committee to examine the role of productivity, that official statistics received by the committee show that growth in both labour and multi-factor productivity since 2000 has fallen to less than half that achieved from 1990 to 2000, limiting the economy’s potential for non-inflationary growth under Labour’s policies—
Madam SPEAKERNo, that would seem to be a matter for the committee. The member may answer about process matters but not matters of substance. I will give the member one more go to ask his supplementary question.
Dr the Hon Lockwood Smith Link to this
I raise a point of order, Madam Speaker. The question related specifically to the terms of reference of the inquiry.
But it is before the committee, and I think it is a marginal call. I am happy to let you have another go, but we do not want to get into matters that are before the committee, and we do not want the chair to be asked to make a comment on matters that are inappropriate. But the member may have another supplementary question.
Dr the Hon Lockwood Smith Link to this
I raise a point of order, Madam Speaker. The question was very carefully worded, because I did not mention information that only the committee has. You will note that I referred to official statistics that the committee has, and those are official, public figures. So I am not asking the member to comment—
I cannot confirm the matter that the member has adverted to. What I can confirm is that the material received by the committee on that question indicates that the evidence on it to date is inconclusive.
Dr the Hon Lockwood Smith Link to this
I seek leave to table the official statistics that show exactly what I said.