Ms Marie Armstrong:

Germany is more concerned about being able to export cars to China than to the United Kingdom. They feel they can replace it. Although the German car industry is very important, I am not sure the UK is featuring as highly.

Currency was mentioned. If the exchange rate is between 80% and 85%, some 32% of our members’ profitability is affected. When the exchange rate goes above 90%, almost 80% of our members will be adversely affected. Only just over half, however, have considered hedging.