Hon GRANT ROBERTSON (Minister of Finance): In response to the Government's announcements yesterday to support New Zealanders through the global energy crisis with a temporary reduction in tax on fuel in New Zealand, ANZ bank economists reported that it would reduce inflation. By cutting the fuel excise duty and road user charges by 25c per litre for the next three months, they estimate that the direct impact of the change could reduce inflation in the June quarter by 0.5 percentage points. ANZ noted that the reduction will cause a one-off drop in prices, as well as a second-round impact, as most goods and services rely on fuel somewhere in the supply chain. They said, "the impact is small in the context of the current levels of high inflation we're experiencing, but every little bit helps." We know there is no one answer, or easy answer, to addressing costs of living issues, but we are also continuing to act to support those most affected by cost of living increases, particularly through the packages that will come through on 1 April to support low- and middle-income households, superannuitants, and students.