Tabuteau FletcherFLETCHER TABUTEAU (NZ First): Thank you Madam Assistant Speaker. Thank you for this opportunity to give this reply. I just want to acknowledge the kind words of my colleagues on this side of the House and actually predominantly the kind words of those in Opposition. It is a milestone—by the looks of the numbers in this House—for myself and I am proud of the outcome. Can I just give some reassurances. There were some very deliberate attempts to misinterpret this legislation from the other side so it's very appropriate that we get this five-minute right of reply. Can I say that the irony of the situation is that if we had acted unilaterally and just moved forward with legislation to change the KiwiSaver industry the argument from the other side of the House would have been the exact opposite of what it is now—Why are you acting unilaterally and not consulting or engaging with the industry and the very people of New Zealand?" who very much care about the outcome of this piece of legislation. Yes it is another investigation but it is an important one and it is an appropriate one. It is a response to nine years of apathy—a very deliberate conscious decision by that party over there to not do anything so as not to offend anyone for nine years—and that doesn't just relate to this piece of legislation. This relates to so many things that have affected New Zealanders over the last nine years and now we're in a Government that is prepared to do something about it. So thank you for the vote of confidence from the members on this side of the House. Thank you for your articulate arguments and your support. It does actually mean quite a lot. After two previous attempts to bring member's bills through the House I have to admit I was quite surprised at how disheartening it was to have them shot down by the Government of the time knowing full well what the numbers would be before you went in. It was actually incredibly surprising how disheartening it was. Conversely I'm quite stoked and—Todd Muller: Stoked? FLETCHER TABUTEAU: Stoked—stoked. A chap is allowed to be stoked with an outcome. Brett Hudson: You've still got a few weeks to go on the waka mate. FLETCHER TABUTEAU: So I put it to Mr Hudson in particular that now's not the time to play politics. I put it to the Opposition that those lines in the bill are directions so there's no call to guarantee returns of investors. There's no predetermined outcome. There is no call to lower fees tomorrow. You made arguments that were reasonable in and of themselves despite the fact that there was no attempt from this bill to do those things. The experts are being asked to look at it and I say again to the members opposite it could not be more timely. I acknowledge the contribution from Parliamentary Under-Secretary Wood who gave an eloquent summary of the situation using real data and just spoke to the reality of the situation as to why we're here at this point. The bill is a different way forward but it is a consultative way forward. It is an inclusive way forward and it actually gives the members opposite a very real means to engage and to have a say on the outcomes of this legislation. I give them credit for acknowledging that they recognise themselves that there are issues in the KiwiSaver industry and they need to be looked at. So thank you for at least acknowledging that. I hope that my interpretation of the numbers is correct and that we move forward proudly and look to a year-long process where we can take stock of the industry. So I'm proud to support this bill. Thank you very much."