Hon GRANT ROBERTSON (Minister of Finance): I am literally repeating myself, but the monetary policy remit is akin to the policy targets agreement that has been and was in operation in the earlier life of this piece of legislation. That is an agreement between the Government of the day and the Reserve Bank Governor. The opportunity for scrutiny does come through the parliamentary process. The Reserve Bank Governor and the monetary policy committee's decisions are debated at each and every term by the Finance and Expenditure Committee. The process of putting a remit together is clarified in this legislation. And this is, I think, the third or fourth time I've explained that to Mr Bayly that I don't believe the Order in Council process is commensurate and appropriate with the remit; it is commensurate and appropriate with the objectives, therefore that is why that process is in there, but is not when it comes to the remit. I don't think the change here is the characterisation that Mr Bayly has given it—it is simply just not correct.