Mr. Stephen Bell:

That is not a particularly fair characterisation of our approach. We have a range of solutions which we can make available to customers, which in almost every case would make the cost of staying in the property less than renting a comparable property. In that instance we see no logic in writing down an arbitrary amount of money, leaving the customer in the property, who would over time benefit from capital appreciation on a written down debt. This seems to be a completely unnecessary step when we have all the other tools in our armoury to solve the problem by very different ways.