Senator BIRMINGHAM (South Australia—Minister for Finance, Vice-President of the Executive Council and Leader of the Government in the Senate) (14:21): I'm advised the UK government's review did acknowledge that buy-now pay-later arrangements can also provide clear benefits to consumers whilst they have sought to identify and address regulatory issues in the UK consumer credit obligation. What we see is that young people in particular are using less credit, particularly a reduced use of credit cards, since the growth of buy-now pay-later services, so there is some product substitution in relation to financing options occurring. As I indicated before, ASIC will continue to review these matters, particularly the implementation of the industry code as announced today.