Upston LouiseHon LOUISE UPSTON (National—Taupō): I rise to speak on the Government motion that's been put forward by the Hon Chris Hipkins today which as my colleagues have said extends the time line extends the report back of three very important pieces of legislation. Finance is really at the heart of an economy and the ability to ensure certainty and stability whether it's in the area of investment whether it's the area of trust law or of financial services.So in terms of the Overseas Investment Amendment Bill—this of course has been around the traps a couple of times seeking extensions and many people have been contacted about this particular piece of legislation. There are grave concerns about just what direction the Government is heading in. In terms of investment decisions the lack of certainty that has been provoked by the incoming Government is quite disturbing and that is on a number of fronts.The Minister that spoke before me David Parker referred to a number of matters. One was related to changes in the forestry settings. The Minister will know in terms of that particular piece of legislation just how complex it is and so it would have been helpful for the select committee to have had the decent level of scrutiny required a longer period of time for the submitters themselves to have input and many of those that submit—as a previous Minister those who get very involved are actually the legal fraternity—SPEAKER: Order! Order! I'm now going to require the member to address the question before the House.Hon LOUISE UPSTON: Thank you Mr Speaker. So in terms of an extension to the report back there is a significant number of players who are involved in this work who are seeking certainty who perhaps have already made decisions not to invest in New Zealand. The Government has talked about its housing priority. So the time frame of this report back of the Overseas Investment Amendment Bill being reported back to the House by the Finance and Expenditure Committee—the motion is to extend that to 21 June 2018—will of course create a number of issues. The select committee has needed in the past time to consider the issues fully. There hasn't been any reassurance in this debate on this motion to extend the report back of the Overseas Investment Amendment Bill around what that will actually entail.The Minister spoke before me. He raised the issue of forestry. He raised the issue of housing. He raised the issue of what was the Trans-Pacific Partnership which has had a name change. But nothing really has provided certainty in terms of the report back on this important piece of legislation and of course the others that I haven't referred to—the Financial Services Legislation Amendment Bill. The motion seeks for that extension to the House by the Economic Development Science and Innovation Committee—gosh these select committee names are a bit of a mouthful—to be extended to 31 July 2018 and then of course the Trusts Bill to be reported to the House by the Justice Committee seeking an extension to 5 September.Extensions aren't granted lightly. In the 52nd Parliament there's been a very clear indication that extensions shouldn't be sought. They shouldn't be sought lightly. The House I don't believe in this debate has heard why these should be extended sufficiently. I'm hopeful that the members opposite with responsibility for this legislation—I would've looked forward to a longer contribution from the Minister responsible for the Overseas Investment Amendment Bill. It is a complex piece of legislation and if it requires an extension it hasn't really had the full issues of why that extension is being sought in addition to the earlier extensions that had been sought and granted.I would be hopeful that members opposite would provide the House with very good reasons why extensions should be granted when other pieces of legislation have had shortened report-backs and shortened ability for the public to contribute. I think there's a responsibility when there is a shortened report back and less ability for people to participate in the select committee process that then when the select committee is seeking an extension to a report back there is some balance that is put in place.I'm curious to know from the Minister responsible for the Overseas Investment Amendment Bill why it is that the submitters would have less time and the committee would have a longer period of time given something that was originally thought to be quite simple. The Overseas Investment Amendment Bill has a number of different components in it as the Minister has referred to both in terms of the purchase of land the purchase of houses—SPEAKER: The member is now into the substance of the bill. Her speech is also terminated.