The annual rates bill is always important as it sets the annual tax rates for the tax year. By a majority, the committee recommends that clause 3 of the bill remain unchanged. Why the majority and this side of the House recommends that clause 3 remain unchanged is that what is proposed by the Opposition—tax cuts and the removal of the top tax rate—is not what the country needs at this time. Maintaining the tax system helps maintain the revenue base, which is necessary to fund the services and functions that so many New Zealanders depend upon. It also provides clarity and certainty at a time when there is so much uncertainty. Providing a tax cut would disproportionately benefit high-income earners over lower-income earners, and that has been well explained by the deputy chair of the committee, Dr Duncan Webb. 