Henare PeeniPEENI HENARE (Labour—Tāmaki Makaurau): Tēnā koe e Te Māngai o Te Whare. Look I thought about speaking on this tax bill in Te Reo Māori just to liven up the debate this afternoon and certainly spike the interest of members across the House but in order to allow the translators to hopefully get away early this evening I have got to stick to English. When we think about a tax regime or a tax system we want to make sure that it is fair we want to make sure that it is transparent and we also want to make sure that it is easy to understand so that from Māori trusts to small to medium sized enterprise business owners and to the large corporates they have a system that they are able to navigate and understand and one that does not cost exorbitant accountancy fees and adviser fees to make sure that they are compliant. So when I think about this particular taxation bill we are debating this afternoon there are some questions that still remain unanswered. I am familiar with some of the people who are far smarter than me on tax matters. They have contacted me to once again express just how concerned they are that throughout this process they were not given ample time or the opportunity to make sure they could go through this particular bill with a fine-tooth comb to make sure that loopholes do not emerge later on and are exploited and to make sure that this is done so that we are not coming back time and time again—as we have seen with this Government—into this House to fix things up. During the course of this bill's progress I spoke about the Māori trusts regime and the new proposed Māori trust regime around grandparenting Māori trusts etc. I just want to touch on my point that I made during an earlier contribution around the date of 3 May 2016. I mentioned that there have been significant settlements post - 3 May 2016 and in my discussions with those people they have raised concerns and issues about the high compliance cost to achieve essentially the same thing that was already there before the change. It is that kind of feedback that makes me question exactly why we have done this when we are going to get the same result yet we are making the burden of compliance go on Māori trusts.In a discussion with Mr Nash here—we are all for making sure that compliance costs come down and that regulation and compliance costs are not an extreme burden on small businesses Māori trusts and large organisations. While adhering to the law we want to make sure that a lot of their money is not tied up in matters of compliance. I highlighted in a previous contribution that sadly that will not be the case for many of the regimes—the Māori trusts—that will be established post-2016. As the Māori economy grows larger the likes of Ngāti Whātua are coming into large assets and are having to set up more and more companies to work with their assets and they need to make sure that they are financially compliant and also fiscally responsible. They raised their concerns with me. One of the issues and it has been raised by numerous contributors throughout this bill's progress is around some of the problems we are seeing in the country at the moment around poverty and making sure that the distribution of taxes. For those who have to pay tax—well all of us have to pay tax but for those who do pay tax—they want to make sure they are seeing a return on their taxes and that they are seeing reduced numbers in homelessness and all those issues that have already been raised. My colleague Julie Anne Genter mentioned some of them. It made me a little bit concerned when at the beginning of the third reading of this bill the Minister did not even mention the tax rate. In fact all of the contributions from the other side of the House have been very minimal and that makes me concerned about the process of this bill and of course about the process of democracy. However having said all of that we will be supporting this bill and I do hope that we will not be coming back to fix up some of the loopholes discovered later on. Kia ora.