Hon Dr MEGAN WOODS (Minister of Housing): The member's question is a cautionary tale in only reading the summary document—or, in this case, the Cabinet minute. A read of the full Cabinet paper and its companion papers would clearly show the member the policy was refined, following officials' advice, to address the risk the member outlines. The Cabinet paper from which the minute is drawn explains that introducing the new-build exemption would mitigate the impacts on housing supply and rents. The new-build exemption would encourage investment in new builds to increase supply.