"Hon David Cunliffe: Does the Minister consider that upbeat and aspirational action is now needed in New Zealand, when US stock markets rose nearly 7 percent in recent days on the back of such intervention by the US Obama administration, or is he instead using this recession as political cover to undertake a pre-ordained agenda of privatisation, gutting KiwiSaver, the Superannuation Fund, and accident compensation, and, to boot, hobbling regulators like the Commerce Commission and Overseas Investment Office?

Hon BILL ENGLISH: It may well assist the Labour Party if it stops trying to rerun its terribly failed 2008 election campaign and actually pays some attention to the economy. I am very pleased that the New Zealand Government does not have to put a trillion dollars into stabilising the banking system"”it is probably about the third or fourth attempt the US Government has made. I acknowledge the efforts made by the previous Government to help to stabilise the banking system; we are continuing with those, and I hope we do not have to follow the course of the US Government. " - Parliament TV