Mr. Ian Black:

There were performance-related payments made then. The company made a loss but SBCI's mandate is not to maximise profits. It is very much to deliver on its objectives. The reason it made a small loss was because of a reduction in, what the Comptroller and Auditor General referred to as, net interest income. As a result of quantitative easing, the level of funding required by the banks has reduced. There is much cash available, meaning, therefore, the funding is not required. Accordingly, our funding from those sources was reduced and, in turn, our income was reduced.

We have a choice. We have charted our services back to the where we design and assist in the design of schemes. We cover that on a cost basis with the relevant lending department.