The second point that I want to make about that expansive monetary policy is that it is not without cost to the Crown balance sheet, because, of course, the Large Scale Asset Purchase programme has made the Crown balance sheet a lot more sensitive to changing interest rates. In a real effect, that will mean that Treasury needs to shovel between $150 million and $200 million over the Reserve Bank balance sheet each month for the foreseeable future. So the fact that the Reserve Bank embarked on a significant programme of bond buying, or money printing—that is not without cost, and I highlight that point. The second point I want to dwell on is debt, because the speaker previously said, "Oh, look, debt is nothing to worry about in New Zealand." I want to lay out the numbers, because I think New Zealanders with common sense would listen to these numbers and sit up straight. Going into the pandemic, debt was 19 percent of GDP. It then reached 30 percent, and it's on its way to 40 percent. That is, by anyone's judgment, a massive accumulation of debt over a short period. While it is right to say that the ratings agencies have been comfortable with that for now, they have also highlighted some significant risk factors for New Zealand, because, of course, the point of not accumulating too much debt is that we want to have enough capacity to borrow if another rainy day comes—if, God forbid, foot and mouth disease came to New Zealand, for example.