Four mega-trends underlie COVID at this point: new vaccines that are going to change the amount of risk people are prepared to take around the world, variants of the virus that may turn out to be vaccine-busters, then there's new technologies for testing and tracing that make it easier for countries to open up, and finally, fatigue with COVID-19 measures. Public balance sheets, including ours, are fatigued. People, in general, just don't feel like going home for five weeks and that learning about sourdough would be quite as appealing this time, let alone the fact that their private balance sheets are also stressed from last time. Terms of trade, interest rates, the COVID response—all of it is going to get harder, and this Government will have used a golden opportunity to rebuild a New Zealand we could all be proud of. But instead, we'll have the same old policies, throwing more money at the problems we had, and the only change is—the problems are still there—the next generation gets a lot more debt with higher interest rates. That is why this Budget should be described as the "la-la Budget", and the Government's made no acknowledgment of that.