Bennett GlenGLEN BENNETT (Labour—New Plymouth): Kia ora Madam Speaker. Thank you very much to all members and parties that have contributed this afternoon to this debate. I'm glad—well hopeful. Promises have been made that everybody supports it. I look forward to the vote and it making it to select committee.Well I actually want to follow on from what my colleague Helen White said around the fund because if we look back even before Powerco it was the energy reforms of the 1990s that basically started the chain reaction to Powerco being sold off to an Australian company. It was the Taranaki Electric Power Board which was owned obviously by the council. Then obviously reform happened and the assets were sold off but that's right let's not talk about protecting the assets because that's a whole 'nother kettle of fish.I just want to say thank you to everyone this afternoon for your contribution and also for the fact that I don't know how many times I've heard PIF said in this House before but it was a lot. I also want to say that for some of you who were far more elegant than me my PIFs were sort of pff whereas actually Lemauga Lydia Sosene I think had the most elegant and articulate PIF which I won't even be able to articulate as she did. But obviously it is the Perpetual Investment Fund and I'm grateful that we will be supporting it this afternoon. I want to acknowledge my Green Party colleague the Hon Eugenie Sage who talks about the New Plymouth District Council and their due diligence and also the concerns because there are some concerns that were raised in that process in the due jiligence—do jili—do—Hon Members: Due diligence.GLEN BENNETT: Due diligence. It's all the Ps and the Ds.I hear that and have had conversations back in the electorate of New Plymouth about that. So that's why going to select committee and having those conversations and having more submissions made on this will be helpful. I also would like to acknowledge Simon Watts in terms of him talking about the additional protections which is why we're here today because the council is asking for those additional protections around this piece of legislation. I am grateful that people are supporting this. This bill is about paying it forward. This bill is around legacy work in terms of looking to the future. It's around making sure that the benefits received today from our history are passed on to our future. It's providing an intergenerational equity ensuring that future generations do not lose out on the benefits due to short-term thinking. So this piece of legislation is important and I know that the New Plymouth District Council is looking forward to it's going through all stages in this House and to help the council to be able to continue to run services. You know we mentioned earlier my colleague Rachel Boyack around things like the Festival of Lights and investing in new services such as the extension of our coastal walkway all the way to Waitara but ensuring that investment into our rates to ensure that people can live yes in the sunniest city in New Zealand—it's a true story; three years in a row I believe. I'm sorry Rachel Boyack it's not Nelson. I am grateful that we are here about to vote and I commend this bill to the House.Bill read a first time. Bill referred to the Governance and Administration Committee.