Malcolm Turnbull (Wentworth, Liberal Party, Prime Minister) Share this | Hansard source

Your patience is an example to us all, Mr Speaker. I thank the honourable member for his question and, while his motives are hardly pure in asking it, I do want to take the opportunity—and I thank him for that—to reflect on Bill English's great career as finance minister, their equivalent of Treasurer and, of course, as Prime Minister of New Zealand.

The John Key/Bill English coalition, leading the Nationals in New Zealand, inherited an economy that was on its knees and a budget that was in deficit. They had many challenges. While we reflect on our challenges in Australia from time to time, New Zealand, which has been described in The Economist as the 'Saudi Arabia of milk', isn't blessed with the same natural resources or population that Australia has. So it was a big challenge, and they did an extraordinary job. They brought the budget back into balance; they delivered stronger economic growth. The so-called brain drain of Kiwis coming across the ditch to Australia started to reverse, and it really has been a terrific performance.

I'm happy to take the opportunity to say that Bill English did an outstanding job as finance minister and Prime Minister. He is a great friend of Australia. The job they did in New Zealand is something that has been an example to us. I just want to remind honourable members that a big part of their economic reform agenda was reducing business taxes. They recognised that, in order to attract investment, they had to increase the return on investment. They did that. New Zealand has got many advantages but it doesn't have all the economic advantages that Australia has—that's for sure. That National government did an outstanding job. Bill English is a great New Zealander, he's a great friend of Australia. I know that all honourable members wish him and his wife, Mary, and their family the very best as they embark on their new adventures. I've been in touch with Bill today; Lucy and I are looking forward to seeing them in Sydney soon.

On that cheerful trans-Tasman note, I'll ask that further questions be placed on the Notice Paper.

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