The core of Budget 2020 will boost critical public services, fund infrastructure, and provide the unprecedented investment needed for the second and third stages of our plan to face COVID-19: recover and rebuild. Through this Budget, we are establishing the $50 billion COVID-19 response and recovery fund. This fund builds on top of the initial $12.1 billion package and the $12 billion New Zealand Upgrade Programme we announced in January. This is the most significant financial commitment by a New Zealand Government in modern history. The fund does not represent a target for spending but gives us the flexibility to be able to respond as necessary. The fund will be critical in seeing New Zealand through the economic struggle that is coming, and rebuilding our economy for the better over the long term.