Hon GRANT ROBERTSON: In its latest Global Macro Outlook, Moody's has downgraded its expectations for global growth this year. While Moody's said it was too early to make a final assessment on the impact of COVID-19, it has downgraded the growth forecast for China, Australia, Japan, and Korea, in particular. Comparing Moody's revised forecasts with the consensus bank forecasts for New Zealand, New Zealand is still expected to outperform our counterparts, albeit in an environment of slower global growth. As I said yesterday, the Government remains vigilant on this issue. We are currently working through scenarios with Treasury, the Ministry of Business, Innovation and Employment, and the Reserve Bank to ensure we are prepared if the virus outbreak is prolonged and the economic effects are sustained. That is not the advice we are receiving at the moment, but it is best to be prepared for all possible scenarios. 