NICOLA WILLIS (Deputy Leader—National): I welcome this opportunity, so rare in this House, to talk about the long-term picture for New Zealand 40 years into the future, the fiscal position which we will have. We do so because of the Public Finance Act 1989, which in a very sensible move requires Governments every four years to have an appraisal of the long-term fiscal position, to consider the trends, the risks, the opportunities, the choices that we are making today, and the choices we are potentially taking away from future generations or adding for future generations. It is engaging in that big picture that we can have discussion about intergenerational equity, about demographic trends, and about the economic opportunities and threats that present themselves to New Zealand. 