Mr. David Flannery:

I am not sure I have the answer to it. A project in the Picardy region of France provides an example of a possible approach to the mix of finance. Some 20% of project costs are financed through the European Investment Bank, EIB, and 20% are financed through the regional authorities. That sort of security allows the homeowner to borrow at a much lower interest rate. They typically borrow at rates of 2% or 2.5%. Those rates are a game changer. We can all identify the problem we are seeing at the moment, which is slow finance that is not tailored towards renovation. At the same time, a borrower can get 0% interest rates to finance on a car on the forecourt. We are at typical rates of 6.7% to 7.9%. That means there is much less incentive for anyone considering it, because any savings will be swallowed up by interest payments. It is not beyond our ken to come up with a financial package. We have successfully done that with many other sectors. We could probably agree on the need for that in order to increase scale.