So let's be honest: whereas the explanatory note talks about the economic and regulatory context having changed, and, therefore, it's important to consider the environmental, social, economic, and other impacts on investment. The reality is, it's not so much the economic and regulatory context that have changed; it's the political context. Others on this side of the House have noted, quite rightly, that it was the political context. The first term of the Labour Government, propped up by New Zealand First—or vice versa; take your pick—that came up with this sort of bizarre idea that forestry should be treated in the way that they did.