Robertson GrantHon GRANT ROBERTSON (Minister of Finance): Thank you Madam Chair. I'll endeavour to—I thought I'd just—CHAIRPERSON (Hon Anne Tolley): I think if we try and keep it—if you're answering a question just stand up and—Hon GRANT ROBERTSON: Yeah—yeah OK thank you Madam Chair. I'll just endeavour to try and answer the questions or the points that Mr Goldsmith raised as well as Mr Brownlee. In terms of Mr Brownlee's point on the loss carry-back scheme the first thing I would note is that yes for some sole traders who effectively operate off their own bank accounts essentially clearly it will not be a system that they would be able to access. They are able to access the wage subsidy scheme. There is the ability for them to take advantage of the other tax changes that we've put in place including the write-offs around the purchase of small assets and other provisional tax changes including the lift in the threshold for the payment of provisional tax. So there is a place for those sole traders within that scheme.In terms of the overall value of the scheme to other businesses the Inland Revenue Department have estimated it's got a value of $3.1 billion. That represents a very significant amount of money returning to businesses to give them cash flow. Now yes it does involve needing to make a projection of what will happen in the losses of this year. We know from talking to tax accountants and the tax experts who we engage with when we're designing policies like this that they are strongly of the belief that firms will be able to sit down with their accountants work out and project forward. They may well be relatively conservative about the loss that they project forward because they don't want later on to face a bill but if they were a profitable company going into this the scheme will work for them. We did say at the time of announcing this particular scheme the focus of this particular bit was around vulnerable but viable businesses. So it does recognise that the people involved were ones who had made a profit in a previous year had paid tax on that and were now able to look forward to a year in which perhaps they wouldn't and carry that loss back.In terms of Mr Goldsmith's questions they were largely of a political nature but I do want to indicate as I did in the House here before we went into the level 4 lockdown that the tradition among finance Ministers such as Sir Bill English and Sir Michael Cullen of ensuring that New Zealand was ready for a rainy day is one that I took seriously upon becoming the Minister of Finance. It meant that we have gone into this crisis with one of the lowest levels of net debt of any country in the world and that will stand us in good stead given the large sums of money that the Government has spent and that the Opposition continue to encourage us to spend. So that is something that New Zealand Governments going back over time can be proud of and I'm happy to say that we are as well in terms of the work we did. We inherited a net debt position of around 22.7 percent and as I've just spoken about we ended up at 19.2 percent.As for the member's questions around the New Zealand Upgrade Programme I'm very pleased to say that we have actually funded those projects; we've futureproofed them as well in order to make sure that they are truly multimodal transport projects. I think the New Zealand Upgrade Programme as a 25-year investment is an excellent one.Hon Gerry Brownlee: Madam Speaker.CHAIRPERSON (Hon Anne Tolley): Goodness! Do you want to carry on? OK we'll get a conversation going.