Boyack RachelRACHEL BOYACK (Labour—Nelson): Thank you Madam Speaker. Look it is a pleasure to take a call in reply on behalf of my outstanding colleague and the sponsor of this bill—the Employment Relations (Protection for Kiwisaver Members) Amendment Bill—Dr Tracey McLellan. Can I begin in my reply by thanking the immediate speaker just prior to me Ingrid Leary for the comments she has made about Sir Michael Cullen. Look on this side of the House we are incredibly proud of the contribution made by our finance Ministers towards superannuation for Kiwis. On this side of the House we had Sir Michael Cullen. On that side of the House we had Muldoon and we could go back to look at all of the mistakes that the National Party made around superannuation and what could have been. I am so proud to be a member in a Labour Party following on from the outstanding work that Sir Michael Cullen brought to this Parliament.I'm going to just touch on some comments made by Paul Goldsmith in his contribution. He talked about the need to encourage investment and that we need to bring more capital into this country. Well that's correct. That's why Labour put in place KiwiSaver in the first place: not only to encourage people to save for their retirement but—as my colleague Arena Williams mentioned—to ensure we were actually correcting a massive imbalance in capital markets in New Zealand.But yet the National Party today have put forward policy that will encourage and push property speculation again and will drive investment away from mechanisms like KiwiSaver that help us to build a pool of capital to invest in a productive sector. They've announced they want to make it easier for property speculators to invest in non-productive housing and continue to push prices up and bid up against first-home buyers. So it was quite a bizarre speech to listen to from Paul Goldsmith tonight where he essentially was trying to argue something that's completely contrary to policy that National—I note they've gone quite quiet now—have introduced today.A number of speakers tonight have mentioned the importance of good superannuation policy for women and I was disappointed to hear the interjections from Simon Watts who was saying what have we done about this? Well there is a lot we have done about this. Just recently in this Budget we've introduced the requirement for those on paid parental leave to continue receiving their KiwiSaver contributions. Because we know that during that time particularly women who take long periods of paid parental leave they miss out on those contributions. That has outcomes far reaching beyond that time because of things like compounding interest. So we know that it's not just what you miss out on during that time it's the interest that you collect on it that is lost to you.The other thing we've done of course is actually put in place proper pay equity legislation so that women in the first place aren't actually earning less than they should be—because that is a fundamental component of superannuation; of KiwiSaver: that 3 percent has to be 3 percent of a decent wage. Very proud of our work on the side of the House to both lift the minimum wage lift wages generally and particularly to deliver better wage increases for women.I must finish by responding to some of the comments from the ACT Party tonight and can I just encourage anyone listening to the debate tonight to please not take into consideration the irresponsible advice that was given by the member from the ACT Party Chris Baillie. I think it's always very important that members of Parliament don't give financial advice because that financial advice was quite frankly appalling. I just want to note that many people would say actually as well as paying down debt you should also be investing in your retirement. Those are things that you should be doing at the same time so I just want to encourage people to take some proper advice rather than listening to that member.But also that member seemed to fundamentally misunderstand an important component of the Employment Relations Act that is so important for this bill which is that there is an inherent power imbalance between employer and employee. There is plenty of law in New Zealand that does legislate around the employer-employee relationship and it's actually quite frightening to hear an ACT member tonight essentially state they're going to get rid of all of that if they were to become Government. I think every worker and every union member should be paying attention to that member's contribution tonight. This is an excellent bill and I commend it to the House.