6. Hon DAVID CUNLIFFE (Labour—New Lynn) Link to this
to the Minister of Finance
Does he stand by his statement about the Prime Minister that “Getting on those bloody planes he comes back with 10 different things. I just say we’ll look at that. The occasional one you just say that’s not going to work.”; if so, which of the Prime Minister’s ideas has he rejected?
Hon STEVEN JOYCE (Associate Minister of Finance) Link to this
The honourable Prime Minister welcomes free and creative discussions in his team, where innovative ideas can be freely debated. The Minister can understand if that was not the environment that that member was used to back when he was a Minister.
Mr SPEAKERHon David Cunliffe Link to this
Has he had any free and fruitful discussions with the Prime Minister about his off-the-cuff suggestion made at yesterday’s press conference that Fisher and Paykel Appliances may be in need of a bail-out, or does he believe that such speculation may risk further undermining of confidence in a publicly listed company?
As the Prime Minister has said previously, last month and also yesterday, we have said consistently that Government financial support could possibly be provided to corporates if required, but very much as a last resort.
Chris TremainHon David Cunliffe Link to this
I raise a point of order, Mr Speaker. The member had not called, and I believe you had accepted my call.
Members are normally pretty generous on the way the House flows, and I was very grateful for the way the Hon Annette King let Jeanette Fitzsimons take the call when I made a mistake. I ask the member to be reasonable. If he insists, I do have to accept that. He made the first call, and if he insists, I will go to him.
What other ideas has the Minister seen for effectively managing our way through the current recession?
None at all from the Opposition, but apparently its finance spokesperson is working on something and hopes to have it ready before the next election, or, perhaps, before the next global recession.
Hon David Cunliffe Link to this
Does the consistency to which the Minister previously referred include his previous comments that “Imagine the billion dollars just spent on Air New Zealand and the ‘People’s Bank’ that could have been invested in fixing infrastructure. The Government is running loose with hard-earned taxes and debt. It should make you sweat.”; or is that one of the things one says in Opposition but not in Government?
In light of the current global financial recession, we have said consistently over the last month that we would consider Government financial support, but, again, very much as a last resort.
Hon David Cunliffe Link to this
Can the Minister confirm that, as referred to yesterday by the Prime Minister, the operations and mandate of the Overseas Investment Office are currently under review by a ministerial subcommittee that will be reporting to Cabinet by March 2008; and when will the Government make publicly available the objectives and terms of reference of that review, or is it the Government’s practice to conduct economically critical discussions in secret?
Hon Trevor Mallard Link to this
Has the Prime Minister given Fisher and Paykel Appliances an undertaking that that company will not be allowed to collapse?
Our primary method of supporting the corporate sector is to ensure that the banking sector is sound. We have then said that any companies having difficulty would be asked to explore every commercial option before considering any approach to the Government, and that if any consideration of Government financial support were needed, it would be very much as a last resort.
Hon Trevor Mallard Link to this
I raise a point of order, Mr Speaker. Although that was a very good general answer, the question was a very specific one: has the Prime Minister given an assurance to Fisher and Paykel Appliances?
There are a couple of problems with what the member is seeking me to assist him with. The first is that the Minister is not responsible for what the Prime Minister may or may not have said to Fisher and Paykel Appliances. Secondly, the question is getting very specific, when there was a very general primary question. I think that the matter has, therefore, been taken as far as it can be.
Hon Trevor Mallard Link to this
If I may speak on that point—and I thank you, Mr Speaker, for your tolerance—when Prime Ministers make pronouncements in areas of responsibility of Ministers, then it is certainly within the Ministers’ responsibility to answer. I think if—