Young JonathanJONATHAN YOUNG (National—New Plymouth): I think there is a part of this bill that we tend to gloss over but I think it is very very important particularly for the businesses that are going to be the ones on the front line to empower this legislation. It was estimated that the cost of compliance over 10 years was going to be $1.6 billion. By working with the different companies and people in the private sector in particular refining the options to help them meet their obligations we have significantly reduced the predicted compliance costs from that estimated initial $1.6 billion over 10 years and have now lowered it to $800 million to $1.1 billion. But that is an outstandingly high figure.I bring this to the fore to perhaps say to New Zealanders who might be listening in to this debate—although at 10 past 5 on a Thursday afternoon there may not be many.The ASSISTANT SPEAKER (Hon Trevor Mallard): Order! The member will address the House.Hon Ruth Dyson: I am getting a lot of calls saying people are listening.The ASSISTANT SPEAKER (Hon Trevor Mallard): Order! Do not encourage him.JONATHAN YOUNG: Ha! Thank you very much Mr Assistant Speaker for your guidance. But by and large New Zealanders will not notice the effect of this legislation in their everyday lives but behind the scenes there will be a tremendous level of surveillance taking place regarding transactions that come from suspicious activities. The point I am making is about the incredible cost and expense to ensure that New Zealand is a safe and credible society. I do not think we should just ignore that because we know that the cost of safety and certainty and security in our country is a very important thing. What we will see is that there will be businesses that will absorb those costs.Going back to what the previous speaker Aupito William Sio said why has this taken this length of time to bring through and institute? It is because we want to do it in an efficient and a practical and an effective way but we do not want to load down our businesses with huge compliance costs. We want to find efficient ways in which they can continue to make our society safe from money-laundering. If we do not make it safe from money-laundering it is not just reputation that we have to worry about; it is actually criminal activity that we have to worry about. Making this place safe making this New Zealand society and economy safe is very expensive. We need to do it effectively and efficiently but we need to do in a cost-effective way. Sometimes that takes just a little bit longer than slapping down a $1.6 billion bill over 10 years. Working with the sector is incredibly important and also working with it so that it can bring these provisions in in an appropriate and timely way as the sector absorbs I guess the demand and the burden of this and doing it in such a way that the sector can do it effectively: to develop risk assessment programmes to put in place procedures and controls and to train staff—all of these things.So I think it is important for us to just realise that behind all of this legislation all of this good thinking all the thinking behind this that parties across this House agree with and support we also have banks and financial institutions. Now we reach back even further to businesses real estate agencies accountants lawyers and betting agencies for sports racing and all of those activities and we ask them to be part of this safety net to keep New Zealand safe. Let us just acknowledge that. Thank you.