This Budget Policy Statement and, of course, the Half Year Economic and Fiscal Update were prepared last year. We reviewed them in February this year, just a month or so ago, and since then much has changed. In December 2019, I don't think we'd even heard the term coronavirus in respect of the illness that broke out in China. By February 2020, when we were starting to review the Budget Policy Statement, we had just started to use the word COVID-19, and now, coming up for nearly a month later, of course, COVID-19 and its impact on New Zealand and on the world is being regarded as a very serious matter indeed. But what this report shows is just how very well we are placed to meet the challenge posed to us by COVID-19. Let me turn to the Budget Policy Statement to show why this is so.