Woods MeganHon Dr MEGAN WOODS (Labour—Wigram): Thank you Madam Chair. I just have some questions for the Minister of Revenue around the research and development (R and D) tax incentive—clauses 41 42 and 43—in this part of the Taxation (Budget Measures) Bill. Thank you for the explanation that the Minister gave us. One of the things that I can't find in any of the documentation that's been supplied to the House is the size of the problem we're looking to solve here. Obviously there would be instances where as a subsidiary company that was carrying out the research activities the tax return was filed in the name of the parent company. I'd be interested to know the number of companies where this has been in place.I noticed there is a retrospective element to these clauses as well. It is unusual for tax legislation to contain retrospective clauses. My understanding from the legislation—and I'd like the Minister to confirm and perhaps explain the rationale why—is that these actually can be corrected back to the 2021-22 tax year which is unusual. Would the Minister please give us an indication of the size—what they're expecting the corrected tax returns from those tax years that have already occurred to be; also whether or not the Minister took any further advice around the research and development tax incentive (RDTI) in terms of subsidiary companies and parent companies in respect of eligibility in terms of whether or not it was a multinational company that had established an R and D subsidiary here in New Zealand that was carrying out the activities—whether that has thrown up any issues. I'm interested; I was one of the Ministers that helped put together the RDTI and these were all questions we had. So I would be interested to know.The other thing that I am interested to know is whether in any way the provisions here—any of the policy advice here—also connected to another measure that is contained in the summary of initiatives for the Budgets albeit as a footnote. That is the scrapping of the in-year payments loan that was introduced in March 2023. That in-year payments loan on the RTDI was introduced to support smaller businesses so that they wouldn't have to wait for the end of the tax filing year to receive the revenue that they could recycle back into their business. It was a workaround in terms of how we could get cash back into those businesses before that time. It says the temporary in-year payment loan was introduced to improve cash-flow performing businesses by providing a loan while businesses waited.The footnote goes on that it's a temporary mechanism with a permanent solution providing in-year payments. So in preparing this amendment I wondered whether the Minister had got further advice around what that more permanent solution would look like—what a time line for ensuring that we are supporting our smaller businesses to be able to conduct research and development activities would look like—because I think that is something that around this House all sides of it all parties would agree is important; that we are supporting others than just our largest businesses to be able to conduct that most important work of innovation in the form of research and development.It says that there's administrative complexities and there's low take-up of the scheme. I wonder if the Minister could advise the committee what the take-up of that scheme was like and what any modelling if they have done further policy work was like—what any take-up of a more developed and more permanent scheme would look like. The Minister is quite correct in the footnote that occurs in the summary of initiatives that it was only ever intended to be temporary. So I look forward to hearing about what more permanent solutions may be put in play.