Chen NaisiNAISI CHEN (Labour): Kia orana Madam Speaker. Thank you very much. First of all congratulations to my colleague Melissa Lee for having her bill drawn out of the cookie tin for this bill. It's really lovely to see more bills being taken in the consumer affairs space. My one is also one that is so I'm wishing for luck as well here. But also I really hope that my colleague will send this bill to the Economic Development Science and Innovation Committee. I think this is a bill that we would love to hear submissions on and making sure that we get into the weeds of all this. I think definitely in the select committee stage we'd be looking for things like unintended consequences things like stories as well of how this bill will affect everyday New Zealanders' lives. But also I really do want to hear from the retailers as well those who do actually issue gift cards to see what their thoughts are on this bill and maybe some of the minor details that they would have in suggesting either amendments or things that they would see as really improving this bill also making sure that their voices are incorporated into this as well. Like I said there's always unintended consequences and I just haven't—out of all of the documents that I've seen here there hasn't been the other side of the issuing retailer.We know that different businesses and different retailers have different business models. As I was sitting there contemplating this bill I thought of the Costco model. The Costco model makes profit based on people's membership actually not by the profit they make on the products. So in fact they issue out membership just to rely on the fact that actually people don't go and shop there; that they buy membership and that's the end of it. That's their relationship with their consumers and that's where the bulk of their profitability comes from.We know that in our New Zealand retailers issuing gift cards is also a really big part of their profitability as well. I read here in a stat as well that there has been $267 million unspent value on gift cards and so making sure that we unlock that value especially as we know that New Zealanders are facing hardship at the moment that's probably something that we're really keen to explore in the select committee stage of this bill. As my colleagues have no doubt already expressed the Labour Party will support this through the first reading and then we'll see what happens during the select committee stage.So as I talked about those who we invite to come in to do a submission on this bill the other stuff that I actually really wanted to hear about specifically as well is actually COVID during the probably you can argue four years of COVID whether there have been especially different I guess effects on the whole gift card as well knowing that you know not every gift card works on online shopping scenarios—trust me; I know that—and making sure that the gift cards apply to all different situations as well.I was just sitting here thinking of other ways to draft this bill as well; perhaps it's making sure that there's a mandatory—so I think this bill suggests three years for everything but I know that there are six months and 12 months as well; that's probably the most popular making sure that it only goes to one particular date out of the two as well. So there's lots and lots of different ways that we can definitely find the balance but I think however we land we make sure that our consumer voices are heard through this and I think the issuing retailers for me is just the other side of the story making sure that we mitigate all unintentional consequences. Definitely as always when we pass bills like this we love to hear from the legal community as well because they definitely have the other side of making sure that when these laws go and get challenged in the courts or in authorities like the Commerce Commission we always actually get the right balance in this as well.I know that a lot of times reading the fine print is not something that you can expect all consumers to do and so making sure that we read the expiry dates on it is not a practical thing and I don't think it's fair to print it so small on a gift card. It's eyesight problems. It's accessibility issues as well.So I think this is a bill that we're proud to support through to select committee stage and like I said I hope my colleague decides to send it to our select committee. I think it's a great select committee to work collegially on this and I really do look forward to examining this bill further then. Thank you very much Madam Speaker.