Hon DAVID PARKER (Minister of Revenue): In respect of the question about did Cabinet consider longer periods than the 10 for the brightline test that this bill legislates for, yes, we did. The member, the Hon Michael Woodhouse, is correct in his reading of the papers that have been released that Treasury recommended up to 20 years, but Cabinet chose not to accept that advice, preferring the 10-year period that is in the bill. Why was that advice being tendered by Treasury? Treasury, of course, has an advisory role to the Government, and I think, like quite a few of the bank economists and other parties who have expressed opinions on the New Zealand housing market, including some of the international agencies like the IMF and the OECD, they have been worried about the steep rise in prices and worried about whether there is a bubble developing and whether it would pop. In respect of the point that the member asks a question on in respect of transitional arrangements, I will seek advice from officials on that point and respond in a moment, but I would note that, of course, it doesn't apply in any event to an owner-occupied home.