Hon TODD McCLAY (National—Rotorua): Madam Speaker, thank you very much. We proudly support this piece of legislation, the Regulatory Standards Bill. That last speech in the House is a reason for two things: number one, a smaller Parliament, and, number two, the adoption of this piece of legislation, because when I have a look at the debate notes I have in front of me—which I'm not reading because it's not a speech—it says that one of the principles of the legislation is not impose a tax except by or under an Act of Parliament. Well, the Labour Party has never seen a problem it doesn't think a new tax will solve, and it's never seen a regulation it doesn't believe should be in triplicate. Actually, the thing about this Parliament is we get to debate long into the night the implications and importance of legislation, and the problem with regulation is Parliament doesn't get to debate it; they just give the authority for someone else to set it, there is a very small amount of scrutiny, and regulation and overbearing regulation actually costs. It costs New Zealanders in their homes, it costs them in their businesses, and it costs us in the economy.