Hon GRANT ROBERTSON (Minister of Finance): There are many parts of the ASB report that I agree with. These include the report's acknowledgment that higher global food commodity prices, higher global oil prices, and the impact of the war in Ukraine are all having an effect on the inflation being experienced by New Zealanders. I acknowledge that a number of New Zealanders are facing a cost of living crisis due to these factors. That's why the Government has moved quickly to ease the pressure on New Zealand families by, for example, cutting fuel excise by 25c, which has flowed through immediately to prices at the pump. With respect to the number quoted by the member, it is hypothetical and relies on a number of factors and calculations that are highly uncertain. In response to the second part of the member's question, I would note that the ASB forecasts that, on average, over 2022, household disposable incomes will be higher than consumer spending, giving a positive savings rate over the year. And as the House may already be aware, the report indicates that since the end of 2017, when Labour came into Government, disposable incomes have been, and will remain, higher than consumer spending in 20 out of 21 quarters through to the end of 2022.