Hon NANAIA MAHUTA: A vast amount of analysis and research has been undertaken since the Government began considering the case for three waters reform in mid-2017. All of that information is publicly available and a part of our regulatory impact statement. There are about 30 various models that were tested against the Government's objectives. No other model would give us the range of benefits that the establishment of four entities does, which includes greater long-term financing arrangements; more sustainable, increased operational efficiencies; the ability to plan, fund, and deliver more resilient and reliable water infrastructure across regions and communities; developing and maintaining workforce capability and capacity. This model also ensures water services stay in public ownership. Assets will remain collectively owned by councils. I'll say it again: assets will remain collectively owned—