Watts SimonSIMON WATTS (National—North Shore): Madam Speaker thank you very much for the opportunity this evening to speak on the Retail Payment System Bill third reading. And I must acknowledge listening to the contribution of the last speaker Rachel Boyack when she singled out support for big business—well let's just remind the House and those at home that that big business that she referred to employs 9000 people in this country; hard-working Kiwis in every corner of this country working in branches in head office supporting our economy supporting business supporting our agri-sector and that side of the House categorically says You guys are bad people because you support big business." Well implicit in that conversation is their saying that they don't support hard-working Kiwis and that is greatly disappointing.I'd love to get back to the bill which we're here to speak about tonight because while National supports this bill it is on the backdrop of Grant Robertson's largest increase in Budget in the history of this country—$6 billion of additional spend is going to be spent. And so we talk this evening of savings of $74 million and well we go "Wow that is a big amount of money." It's not a big amount of money in terms of the consultant spend and contractor spend in the three waters campaign which is $21 million but we don't want to talk about that so we'll get back to this bill in itself.But what the challenge is in terms of making savings around this bill which we've articulated is yes it sounds nice in terms of that and we do believe but it is a very small step in terms of what is required by our communities and our business sector in this country. They are burdened by a huge amount of regulation under this Labour Government a burden of regulation and compliance that is adding additional costs and this bill will take a little bit off that but will be inconsequential in the context of cost burden and regulation placed on hard-working Kiwis across this country that today are struggling to pay the bills because inflation is running twice as high as wage growth and every Kiwi out there at home—that squeezed middle—is struggling to pay the bills. So why aren't we seeing more examples of things like this bill on a much larger scale that actually truly deliver benefits into the back pockets of hard-working Kiwis? Well I'll give you a little insight in terms of why we're not seeing that: because that side of the House do not understand the reality that Kiwis are facing today. They have no idea. They are out of touch. They do not understand how business works. They don't have communication and conversations like people on this side of the House do with hard-working Kiwis that are really struggling at the moment and that is what is so disappointing.One of the things that National would do in regards to dealing with the cost of living crisis is we would stop adding cost to businesses employers and the productive sector. And in regards to this bill while it takes a little bit of benefit out and puts it in the hands of our businesses we need to scale that up significantly. We need to ramp up the support that we're providing for hard-working Kiwis so that they can get on and achieve an aspirational future for this country—that they deserve that we all deserve and that will make this country stronger in the future.The challenges around putting in place aspects such as this are that while the regulation will impact around setting a charge I think in fairness when you look at the feedback made by a number of the associations including the New Zealand Bankers' Association they noted very clearly that there is another way in order to achieve this outcome. And therefore the regulatory framework that is being put in place here is not industry led and National would if we were in Government—and will be—in 2023 undertake industry-led self-regulation in this space because that is what's required. We don't need to come down with a hammer on these types of organisations. They're already doing the best thing for their customers and their people and this type of regulation is a big hammer hitting a nut. I want to just finish off by saying that while National supports this bill we are opposed in terms of the costs that it will play in a broader sense."