Edmonds BarbaraHon BARBARA EDMONDS (Labour—Mana): Thank you Madam Chair. I do want to ask the Minister a number of questions both in relations to clauses 41 and 42. But actually since we're on student loans I want to go back to some of actually the terminology that the Minister is using around the value of the loan. So I understand why the Minister wants to increase the base interest rate for example. It's an incentive I'm guessing for the Minister to have those offshore borrowers to pay back the loan faster. I'm guessing that's the policy purpose of this. My question though as the minister refers to it as the value of the loan"—now that's quite a wide term. And for student loan purposes you can have the fair value of the loan or you can have the impairment value of the loan and the impairment value is I think what the Minister is referring to when he refers to value of the loan. An impairment value is basically how much do student loan borrowers owe the Government how much the Government thinks they're going to collect from them and basically you deduct one from the other and that's where we come to the impairment value of the loan. Or if the Minister is actually talking about the fair value of the loan he's talking about the total of the student loan asset book and how that sits on the Government's accounts. Just for the sake of this particular question it would be I would suspect a contingent liability or a contingent asset. So my quick question to the Minister—and I'll take another call after the Minister provides me a response to this. When he refers to the value of the loan is he talking about the fair value of the student loan which is basically the full amount that is on the student loan books themselves which is on the Crown accounts—James Meager: It doesn't matter; it's not in the bill.Hon BARBARA EDMONDS: —or is he talking about the impairment value of the loan? This is in relation to the bill—that the member on the other side of the House does ask—because the Minister referred to it in relation to the value of the bill which is why he's talking about it.James Meager: Unless there's an amendment it's not in the bill.Hon BARBARA EDMONDS: And again the members on the other side are saying "What has this got to do with the bill?" Well clause 44 looks at a base interest rate increase in relation to the student loan. So if the members on the other side want to take a call as to how they want to explain "fair value" versus "impairment value" I'm happy for the other members of the House to keep going but the interjections are actually providing me with more questions for the Minister. So I thank the other members of the House for asking and interjecting and let's go again. Clause 44(1): "This section amends the Student Loan Scheme Act 2011." Subclause (2): "In section 4(1) definition of base interest rate replace '0.74' with '1.74'". Now if the member wants me to read it again what I could do is actually look at the Student Loan Scheme Act and have a look at the base rate that's in there or if the member would like to continue with his interjections we can continue with my call while I'm waiting for the Minister to have a look at this because again the question around the fair value of the loan and the size of it on the on the Crown's accounts is a valid question to be asking which is why I'm asking the Minister: is this the impairment value of the loan or the fair value when he when he speaks in relation to his responses to other members on this side of the House about the value of the loan? Thank you."