Mr. Richie Boucher:

At the last committee meeting the Chairman made a suggestion which I said I would think about. When we say we will think about something that means we do, and we take it seriously. We recognised there was a concern. The vast majority of defaulting customers are on trackers and we felt there was a perception that we were seeking to make a profit. Therefore we said that for the period of the warehousing, for three years subject to review, it would be the cost of three-year unsecured money to the bank at that time. That was transparent because we issued a bond to the market at a rate of approximately 2.5% to 2.6%.