Hon STUART NASH: The PGF has invested more than $3.11 billion in regional economic development in its three-year life, but we are now taking a new approach. This fund will act more as seed capital for regional priorities and will focus on building strong partnerships to help regions realise their economic potential. Central government will partner with local government, iwi, unions, businesses, community organisations, and other agencies to identify priorities and co-funding opportunities. The partnership approach of the RSPF will be strategic, and region-led, and will continue to be supported by Government.