Hon DAVID PARKER: It was never a tax on KiwiSaver, despite the misrepresentations that have been made. I would quote from today's National Business Review, quoting from a PricewaterhouseCoopers tax partner, who said, "The application of GST to fund management services was a mess and needed sorting, with a wide range of varying treatments by providers. Some were covered by informal agreements made by IRD 20 years ago, while many of the newer or boutique fund managers were simply accepting full GST. That leads to some distortions and complexity." That said, it was obvious that we lost that in the first day because of an orchestrated campaign led by the Financial Services Council. Sometimes, you know you can't win and it's best to retreat early.