Wedd CatherineCATHERINE WEDD (National—Tukituki): Look I thank you for this opportunity to speak in support of this bill. It's great to see cross-party agreement across the House on this and we've enjoyed our discussions through the select committee process and listening to submissions on various parts of the bill. But you know on this side of the House we are laser focused on creating a better tax system in New Zealand one that is fairer and does enable hard-working New Zealanders to keep more of what they earn and get ahead. There are many parts to this bill and there are many complexities to it but it is all focused on creating a fairer tax system for all New Zealanders.One area that I do particularly want to comment on is the tax relief that it will provide for a lot of the victims of Cyclone Gabrielle. I'm the MP for Tukituki and in my electorate we still have hundreds of families that are doing it really really tough out there in our cyclone-ravaged region. The amendments to this bill will ensure that those property owners whose assets have been destroyed by the cyclone get deferral of tax liability on insurance proceeds for assets affected by the floods. This is a practical approach for many people who are going through an extremely stressful time and they just don't need the added stress of tax at this very very tough time—the last thing they need is that when they have so much to do to basically repair their properties. Many are currently going through category 3 buy-outs of their homes. It's really really tough. It's a year on and they're still dealing with quite a slow process trying to get the buy-outs for their homes.Also adjusting the brightline test will provide relief for flood victims as well. So this is something that I think we should all be very very supportive of particularly for so many doing it tough not only in Hawke's Bay and the East Coast but also across Nelson and that particular area as well where those property owners are going to be given a lot of relief through this bill. Similar tax relief was provided in Christchurch with the earthquake in Kaikōura so it makes sense that we are looking at practical solutions around tax and providing tax relief and respecting those people that are doing it tough across the East Coast and Nelson. So I do really really support this particular area of the bill.We made a number of recommendations around the select committee process when it came to tax relief around Cyclone Gabrielle and the Nelson floods and the North Island weather events. And I do believe that this bill is very supportive of the people in those regions and what they're going through and will be very very beneficial for them. But I think that overall this bill is about fairness; it's about creating a tax system that is fair for everyone. We spoke in the select committee process around the global anti-base erosion rules which will prevent tax-base erosion by multinational companies to ensure global consistency. That again is going to create more fairness within the tax system. And the trustee tax—to create more consistency again across the tax system to ensure that we do have a fairer broader better tax system. Then the lump payments—as the member across the House has also alluded to earlier that this is fairer. We heard submissions about people that were getting lump sums and it only seems fair that it shouldn't be all specifically taxed at once.So these are all targeting a fairer system which we absolutely agree with because on this side of the House we are very very focused on ensuring that hard-working New Zealanders are able to keep more of what they earn. And as the member across the House has also spoken about the brightline test and looking at where we can see benefits in reducing that brightline test back to two years is going to be very very beneficial. Then when we look at the select committee process as she spoke about in terms of interest deductibility and the benefit that that is going to have on our housing sector and relieving the housing crisis—because we have seen rents go up $170 a week in this country. So restoring interest deductibility is really going to look at downward pressure it's going to look at lowering rents opening more houses up so that we're not inflicting more cost on landlords. So there's no types of things—Ingrid Leary: Point of order. Mr. Speaker I just refer you to Speakers' rulings 122/3 and 123/1 where the speaker may refer to matters in the amendment but not speak to that. The points that I made were in relation to Nelson which was mentioned in the current bill but I believe the speaker is going outside of that purview.ASSISTANT SPEAKER (Teanau Tuiono): I'll just take some advice. Catherine Wedd: That's OK I will round it up now anyway.ASSISTANT SPEAKER (Teanau Tuiono): I'll take this point of order thank you. Thank you to the member for that point of order. I do understand that the previous Speaker that was sitting in the Chair had taken your point so I hear your point. So I would invite the member to wrap it up.CATHERINE WEDD: Yes OK. Absolutely. There's many great things about this bill that we have discussed through the select committee process—many benefits particularly in cyclone-ravaged Hawke's Bay. So I do commend this bill to the House.Motion agreed to.Bill read a second time.