When the new R & D legislation was introduced last year, it proposed that as well as offsetting against a taxpayer's tax liability, R & D tax credits could be refunded up to $255,000 for companies that have at least 20 percent of their salary and wage costs dedicated to research and development. This was always intended as a temporary measure while a more comprehensive refund scheme was developed. That new, more comprehensive scheme is now contained in this bill. Under these proposals, taxpayers will be able to claim refunds up to a cap based on the amount of labour-related taxes they have paid in New Zealand, such as PAYE or fringe benefit taxes. It will also make refunds available to a broader range of businesses. These changes will allow us to provide more support to more businesses while protecting against the risk of fraud. The bill also contains a number of smaller improvements to further enhance the R & D scheme. Once this taxation bill is passed, I believe that we'll have an R & D tax credit scheme that we can all be proud of.