Dr DEBORAH RUSSELL (Labour—New Lynn): Thank you, Madam Speaker. The Minister of Finance began his speech by mentioning that when the Reserve Bank of New Zealand Act was first established back in 1989, he was in seventh form. At that time, I was in my second year out from university, working as an auditor and, in fact, auditing the Reserve Bank. It was a grey and dusty institution, but the 1989 Act did actually substantially change it and modernise it, but that was 30 years ago in a different world. In the world we are facing today, we actually need to change the way the Reserve Bank operates to give it greater scope to act, but also to give the Minister of Finance greater capacity to work with the Reserve Bank in terms of managing the New Zealand economy for the betterment of us all, and that is precisely what this bill does. I commend this bill to the House.