Fair pay agreements (FPAs) are about creating a new, modern, sector-based bargaining system that supports fair, safe, and productive workplaces. The model is built on international evidence described by the OECD Directorate for Employment, Labour and Social Affairs as the positive benefits that a level of sector-based bargaining can have in labour markets, but, most importantly, the FPA Bill is a uniquely New Zealand solution to the race to the bottom problems that I have described. The model was initially developed by a tripartite working group chaired by the Rt Hon Jim Bolger, whose careful and balanced work on this issue I acknowledge today. 