Hon Dr NICK SMITH: I'll come to that very point, because it's critical, and I would like to educate the Minister, Dr Clark, as to what took place. Because what happened was that Labour felt so naked after being in Government for nine years, and emissions were continuing to grow, that in the last dying moments of the Clark Government they rushed through botched legislation on the emissions trading scheme. And one of the key flaws that were made in that legislation was quite loose provisions around international units that were able to flow into the ETS that resulted in hundreds of millions of dollars of mistakes in the way in which that ETS was operated, and a mistake that National had to fix in Government. And, for Dr Clark's benefit, the New Zealand emissions trading scheme came into effect on 1 July 2010. And for a matter of historic record, that was when there was a John Key Government.