Hon GRANT ROBERTSON: We will be introducing a debt ceiling that ensures New Zealand maintains some of the lowest Government debt in the world while giving greater room for investment in high-quality infrastructure. Under the old measure of net debt, the Treasury has recommended the ceiling be 50 percent of GDP; when we translate that to the new measure, and it is comparable with other countries, the cap is 30 percent of GDP. It is a limit rather than a target and it is, again, flexible enough to allow a buffer against short-term shocks while providing greater room for productive investment. The interaction of the two fiscal rules means that the additional debt cannot be used for day-to-day spending as that is limited by the surplus rule. This leads the debt ceiling to guide capital investments needed in infrastructure to keep our economy moving.