Smith Damien; Dean JacquiDAMIEN SMITH (ACT): Thank you for the opportunity to rise on behalf of the ACT Party who will be supporting Mr Bayly's bill.Andrew Bayly: Oh very good.DAMIEN SMITH: Yep—and we're supporting Labour on this as well. And it'd be interesting to see Mr O'Connor's Swedish literature. If he could share that that would be fantastic.Hon Simon Bridges: I'd like to have this voice reading me my satnav directions!DAMIEN SMITH: Ha ha!Hon Simon Bridges: I feel like it would be very soothing.Andrew Bayly: It is very soothing!DAMIEN SMITH: Yeah. Today I'm disgusted in the Green Party. I'm disgusted in the Green Party because they've had a year to put a position together on this and all I've heard is conceptual nonsense about cutting the knees out from a vast majority of the population. I hope when they go to the election they're prepared to explain to people why they don't support pensions for people resident and present in New Zealand. And as a partner of confidence with the Government it seems rather strange that this has not been nutted out. So for everybody else that's supported this bill congratulations.Just to go back to why the bill was a good idea it was meant to improve fairness and we would benefit from this substantively. The bill was also intended to contribute to the sustainability of the system. And there will be changes in the system; there's no doubt about that. If you look at some of the statistics we've got the most fair and cost-effective super payments in the world. And at the moment—I don't know if the Greens know this—there's $10 billion being spent in 2021 and there's a huge task ahead to finance that. So there's got to be a big shift in Government spending that goes to retirees no matter what happens and this is what they fail to miss: that it virtually singlehandedly pulls over-65-year-olds out of poverty and enables a basic standard of living and it helps them to offset residential care as well—for older pensioners.So it's really quite important that we understand some of the statistics around what's happening. The Ministry of Social Development showed that there were 774000 people receiving super in March 2019 and these numbers by 2060 will increase to 1.84 million. And at that stage people over the current pension age will be 28 percent of the population compared with 15 percent in 2019 which is a massive jump. So we have lots of complicated work to do to develop a pension scheme and it would be good for it to be recognised from the Green Party that this is a start—it's not perfect—but for people in the 60-plus age group we haven't created any uncertainty. We've got a phase-in date that is acceptable and equitable and won't affect any investments. And as many New Zealanders are reaching retirement in poor financial shape we tend to agree that this is an excellent thing to do.So we pay a legacy to Mr Patterson. We believe that the ACT Party sees this as a form of safety net that all parties in this House should have committed to and then start our thinking again. So we now believe that we're very proud to support this bill and we're very proud to actually be part of Mr Bayly's achievement this evening. Thank you.Dr Emily Henderson: Mr Speaker—Madam Speaker.ASSISTANT SPEAKER (Hon Jacqui Dean): I call Dr Emily Henderson.