This approach means that current expenses will be met from current revenue. We will have a prudent level of debt that allows for a buffer against future shocks while providing room for high-quality and much-needed investment to close our infrastructure deficit. This balanced approach to fiscal policy is critical as we face the immediate challenges that are in front us and as we address the long-term issues in our economy. The impacts of COVID-19 remain with us. Experiences of the pandemic differ greatly among New Zealanders, and its long-term effects have yet to be seen. Long-standing challenges around climate change, child poverty, productivity, and housing quality and affordability have not lost their urgency.