Hon MICHAEL WOODHOUSE (National): Thank you, Mr Chair. I'm pleased to take the first call on what I expect will be a long and pretty robust debate on this bill. It does pain me to point out that whereas in the past, taxation, annual rates and remedial matters bills tend to be reasonably bipartisan affairs, that's no longer the case, for two reasons. The first is—and it is the essence of Part 1 of this bill—the inflationary impact of bracket creep on the after-tax incomes of middle New Zealanders.