Mr. Danny McCoy:

I think that is right; that is the issue with that particular scheme. It goes to the heart of what I have been saying. Going into this crisis, we knew that at household level and at the firm level, cash balances were quite strong. Facilitation of keeping workers on and facilitating workers through the cashflow has been taken care of in the main by the temporary wage subsidy scheme. It should have been much more, as I said earlier. The pandemic unemployment payment scheme is a poor substitute in breaking that relationship. Many firms had cash and Mr. McDonnell made the point that they want to hold on to it. To get into schemes, they need to assess their needs on reopening. There is the fear of taking on debt but also the fear of not knowing what one's business model will be post-reopening. It is a chicken-and-egg situation. We need to reopen to assess what actual take-up these schemes will have. Right now, we know the range of measures are correct but we have no idea whether it will be on the right scale, in the right proportion and to the right people. Without a reopening agenda, it is a moot point.