The global COVID-19 pandemic is wreaking havoc around the world. The virus's exponential spread has seen whole countries shut down in their attempts to slow and contain the spread. The result has been unprecedented economic and social disruption across the globe, and we are not immune, of course—I cannot and must not sugar-coat this. A recession in New Zealand is now almost certain, with the advice that we are receiving that the shock will be larger than that seen during the global financial crisis. This will affect every part of our economy now and for some time to come. We are going to see many New Zealanders lose their jobs, and some businesses will fail. We will have an extended period of deficits, and our debt as a country will have to substantially increase. Our package announced today and the support that will continue to come—we'll do our best to cushion that blow. 