Hon GRANT ROBERTSON (Minister of Finance): The Government's scientific and health-led response to support the economy has been recognised by the global ratings agency Standard and Poor's (S&P). S&P Global Ratings published its latest economic outlook for Asia-Pacific today, lowering its expected growth rate for the region in 2021 to 6.7 percent from 7.1 percent it forecast in June. New Zealand and Singapore were the only economies that S&P expects to have faster growth than it forecast in June. It upgraded New Zealand's forecast growth this year from 4.6 percent to 5.4 percent. They said, "The strong growth recorded in the first half of 2021 means that we will see robust full-year growth in New Zealand, even after taking into account a sharp slowdown due to the recent pandemic-related lockdowns. We expect consumer spending and the labour market to remain resilient." Standard and Poor's expects New Zealand to record solid growth in the next three years and indicates a confidence in New Zealand businesses and workers that we have shown over the last year.