Lorck AnnaANNA LORCK (Labour—Tukituki): This bill goes to the heart of trade. This is about being good corporate citizens. That member over there Damien Smith is stuck in old historic history. This is about being in the future. When we look to the future this is what businesses want this is what consumers want and this is what businesses expect from each other.To think that the old-fashioned values have somehow been dismissed. Absolutely we need to drive profit but beside profit goes good ethical standards. Great businesses do better when we look to the future.When it comes to members' bills I know that Dr Duncan Webb sits down and he listens and his mind's going What can I do next? What can I do next?" And he came up with a fantastic bill pulled from the biscuit tin all because of the ACT Party. That's right you're the very reason that—sorry Madam Speaker. The ACT Party is the very reason that Duncan Webb has come up with this bill. Because he heard—Damien Smith: It's not compulsory.ANNA LORCK: Yes it is. Because when we listen to his first reading he refers to the comments by the leader of the ACT Party. That's right that's what they did. And he listened to what the leader of the ACT Party was saying.When it came to that he was—listen the spark of this little bill said Dr Duncan Webb in his first speech was the urgent debate in Parliament which would have been as feisty as this one. It would have gone something like this and it set out the clock and when they were talking about Air New Zealand and when they were looking at what Air New Zealand should do and it set out some climate expectations; good employer expectations. David Seymour leader of the ACT Party is the very reason that sparked this interest from Dr Duncan Webb. David Seymour said that it was an outrage—an outrage—to divert Air New Zealand from a maximising profit motive. Now Dr Duncan Webb said that that was nonsensical—and I'd have to agree with him nonsensical because that is what this debate has come to the heart of—but thought that there must be a suggestion that the best interests in a company means making as much profit as we can. Then as Dr Duncan Webb said "Let's clear that up."That's why we have a party over there that is not supporting this bill because they just do not understand the future of business. And the future of business is about producing goods in an ethical way and it's about making sure that we do what consumers want. And when consumers go to the market they are going to look at companies that absolutely do the right thing.I know that this piece of legislation when we look back in history we're going to think to ourselves "Gee this has just become part of business dealings" because that's how we will continue to grow an economy that thrives and does well.Now going back to the very basics of this bill it means that we will be able to look at the principles and the guidelines that will make better directors—governance and better directors.Simon Court: Treaty of Waitangi? What's that got to do with business?ANNA LORCK: And I can tell you—perhaps you might need to go and have a bit of a coaching on governance and directorship to see the type of things that are coming through and growing great businesses in New Zealand. It's about being competitive on the world stage. It's about making sure we do the right thing and growing and setting New Zealand ahead in world-class competitive markets. Because we are a world-class country delivering world-class products to the world in an ethical way where companies can put those interests right forefront where they need to be. That's why I commend this bill to the House. Thank you Madam Speaker."