Hon GRANT ROBERTSON: The volatile global environment has led the World Bank and the OECD to lower global growth forecasts and upgrade inflation estimates. The Ukraine war is the main driver of the downgrades, pushing up energy and food prices in many countries. Inflation rose to 8.6 percent in the United States and is forecast to go above 10 percent in the United Kingdom. Central banks around the world are now raising interest rates to bring inflation down. For New Zealand, a slowdown in growth among our trading partners will have an impact on our prospects. Current economic forecasts are that New Zealand's growth will slow from what we have experienced and they will continue to be updated as new data comes in. But as I have said before, New Zealand finds itself in one of the strongest positions in the world to support Kiwis as we navigate our way through these challenging times.