Hamilton Ryan; Tuiono TeanauRYAN HAMILTON (National—Hamilton East): Thank you Mr Speaker. It's a real pleasure to speak on this. I'm actually really excited to speak on it tonight. I must give credit where credit is due and also acknowledge Sir Michael Cullen on his work on this and also of course KiwiSaver which is truly a blessing to the future of this country. So I do acknowledge that and some of the kōrero of the previous speakers.One thing that I'm really excited about with this bill is the fact that it removes existing control restrictions and—the keyword here—opens the New Zealand Superannuation Fund to a broader array of investment partners and opportunities particularly in strategic infrastructure deepening the capital markets for local transactions. I'm very keen on infrastructure as is this party and anything that we can do to promote better infrastructure investment. We know we've campaigned on infrastructure funding and financing special purpose vehicles tolling foreign investment value capture all that stuff but if we can get it right within our own country with our own investment portfolio I think that's really exciting. And of course as we know the fund is increasing and so is the life expectancy of New Zealanders. So it's important that we have a commensurate investment strategy and regime that meets that.The Finance and Expenditure Committee (FEC) which I'm now pleased to be a part of has recommended that we pass this bill without amendment—and obviously this has clear cross-party support. It's a pragmatic solution and something which I'm really keen to support also. I also just note that the FEC report said that this draft legislation goes a step further in freeing up the fund to exert control over active operating companies and would therefore represent a meaningful change to what the Guardians could do." I'm all about meaningful change as is this party.But what I really want to speak on tonight is I guess an analogous correlation to what this bill represents. I can't help but think of it compared to a hot bubble bath. Bear with me Mr Speaker while I give you an example. You can imagine on a cold night you've got a bit of a chill and you come home and you think "Gosh I'd love to hop in a big deep bubble bath." There's a few things that make a bubble bath quite good and I'll just share a few of them. One is the temperature of the water. The temperature of the water it's very important—and the depth of the water too because if you want a bath you can imagine you don't want a shallow stink bath; you want a deep bath with good hot water.The other things which make a bath good [Interruption]—if I could; there's a bit of noise on this side of the House—is a good bubble mixture Mr Speaker because you've got hot water deep temperature. Bubbles you know contribute to it and ideally if they're perfumed—that helps too the aroma of the bath. And also the lighting: if the lighting is dimmed a little bit or even no light or candlelight is actually quite good too. Also perhaps a little bit of music Mr Speaker. So you've got a deep bubble bath the right temperature good perfumed bubbles—ASSISTANT SPEAKER (Teanau Tuiono): Is there any of that wine investment along there as well?RYAN HAMILTON: —no light or low light with the candles. Yeah no this is coming to a real good comparison Mr Speaker. And so—Scott Willis: Glass of wine.RYAN HAMILTON: Yeah so a glass of wine or potentially—Hon Member: Yeah 35 millilitres from the cellar door!RYAN HAMILTON: Yeah 35 millilitres or a green mojito or something like that that you just top it off.Now that's what this bill will do: it's like the "Hot Bath Bill". And if you think: not having a controlling interest is like having that expectation to hop into that bath and then getting into a bath when it's like—you were excited to hop in the bath and the plug's been leaking. You hop in and the water doesn't even cover your thighs and the temperature is like tepid. The light's bright like sterile and it doesn't provide that atmosphere. The bubble bath is non-existent because there's no bubbles and that would be a terrible thing to hop into a bath.So I guess just to recap you've got a deep bath hot temperature—I'm thinking 45-50 degrees—Hon Member: You call that a hot bath?RYAN HAMILTON: Well it could be hotter but you know each to their own—we're a party of free choice. Good bubbles a good thick density of bubbles good background music the lighting dim potentially flickering candlelight soft background music and then possibly a drink as well. This is as compared to a shallow stink bath that's got leaking water. It's quite shallow. It's lukewarm it's a bit chilly. And you're really looking forward to the bath and it's a bit chilly. The water's leaking. The light's bright. There's no music. There's no bubble bath. Your spouse is yelling at you potentially and the kids are fighting in the background. But Mr Speaker this bath—the controlling interest is like hopping into a bath that you have control of. It's like hot water. The bubbles—ASSISTANT SPEAKER (Teanau Tuiono): The member's time has expired. I don't know if that was in the bill but maybe it should be. Thank you."