Edmonds Barbara; Brown Simeon; Kuriger BarbaraHon BARBARA EDMONDS (Labour—Mana): Thank you Madam Chair. My question actually goes back to a previous issue that I asked the Minister to address and it might have got lost within the transition between two different Ministers and it was in relation to the information that had been redacted within the regulatory impact statement. I was listening hard to understand what it was and I think the Minister can address it shortly. The reason why I ask that is because actually part of the regulatory impact statement is around what the root causes are that led to this bill. For me it goes back to purpose clause 3(2)(c) which is around the public disclosure of specified foundational information in relation to delivery of water services. Now it doesn't take too much effort because in the redaction within the regulatory impact statement they fail to redact footnote 35 on page 28 which references a Newsroom article on 20 February 2024 that Councils [are] placed on negative credit watch due to three waters repeal." So I'll wait for the Minister to confirm it whether that particular part that had been redacted was actually around the credit rating of the different councils which are subject to the framework in which this Part 1 sets up. I'll wait for the Minister to basically respond to that shortly.The reason why I think—if the Minister would like to basically allow the committee is for officials or the Minister to table the advice that has been redacted in those elements of the regulatory impact statement. The reason being is because the failure to table that information—because under the Official Information Act—totally contradicts which is part of the purpose clause in Part 1 of this bill because it requires the territorial authorities to publicly disclose specified foundational information which I know we will go through with Part 2 to have a look at a couple of elements of that. But what I don't understand is: why doesn't the credit rating information need to be redacted from the regulatory impact statement? It was drafted in March. It is now August. Why can't that information not be released given as well we know that a number of councils who have gone through credit rating assessments. for example in Porirua where I live our council rates are 17 percent as of 1 July—that's 17 percent. They have gone through a credit rating assessment with Standard & Poor's and they received a downgrade in part of their very most recent credit assessment. Again my assumption is just because based on the footnote that's in the regulatory impact statement that this does talks about credit watch and perhaps his officials' assessments of what councils throughout the country will be under credit watch or have a potential for a downgrade. Why can't that information be tabled? I believe that we will get to the point as part of this bill where that information needs to be disclosed anyway if that's the purpose of subclause (c) which requires territorial authorities to publicly disclose specified foundation information. Again that's for the purpose of supporting economic regulation. Well the supporting economic regulation is because you know what the debt limit is of those councils you know what the credit ratings are and you know what the risks are. I think that ratepayers—and taxpayers because ultimately they're two in one sometimes—need to be able to understand is this what the Minister is intending or Parliament is intending as part of that purpose clause and subsection (c) that that's the sort of information at a framework level that should be disclosed for ratepayers and taxpayers in order for them to be able to hold their councils to account.I think that's important because this information unless you ask for it to be released it will remain redacted until somebody else does it through an Official Information Act request but yet we're here in the Chamber tonight we are debating making sure there is foundational information for the purpose of supporting economic regulation. But I think a key part of why this is a problem the root cause of it the analysis that sits under it hasn't been released.So I'm just really keen to know whether the Minister would consider releasing that information if again I think it is about negative credit watch and assessment of it; if not I'm just trying to understand at what point would a taxpayer or ratepayer given that territorial authorities will need to provide foundational information where can they find that information from in the future and what sort of information we should be trying to table here to make a considered assessment on behalf of ratepayers.Hon SIMEON BROWN (Minister of Local Government): I addressed this question earlier in relation to these redacted portions and the answer given was that it's redacted to preserve confidentiality of credit rating agencies to ensure we do not impact the ability of Auckland Council to gain a credit rating for Watercare.CHAIRPERSON (Barbara Kuriger): I'm going to take some more calls but I just want to make a note that the question around "difficult" and the question around "specified foundational information" as the Minister has said is in Part 2. So if the Minister is going to answer that in Part 2 maybe we could have some questions on some different things and we could return to that in Part 2."