Hon GRANT ROBERTSON: Well, the ANZ New Zealand Business Outlook for March was released today and it shows that business confidence has recovered by 10 points, while firms' own confidence in their activity rose five points. Activity indicators generally, including hiring and investment intentions, also lifted slightly. ANZ said that the improvement was likely due to waning fears about the impact of the Omicron outbreak, although everyone acknowledges the confidence does remain low against historical trends. We recognise that challenges remain as businesses deal with inflation pressures due to global factors, including Russia's invasion of Ukraine, which has driven up oil prices, and the ongoing impact of the pandemic on supply chains. While economic growth is forecast to slow this year, the resilience of the New Zealand economy and our strong fiscal position means we're in good shape to be able to support New Zealanders to deal with these challenges.