Mr. Brian McHugh:

It is true that there are times when we are reactive. I would not describe it as such as regards mergers. We will prevent mergers happening where there is a substantial lessening of competition. Perhaps the biggest difference is what is necessary and proportionate to deal with the potential problems in the veterinary sector. We are not saying there are no problems. What we are saying is that there is a regulator in place and that the evidence needs to be collected on what the problem is and what might be the options for solutions, including forward-looking ones. In terms of identifying those issues and addressing them, that is what regulators are for, to a large extent, in many markets. They are very successful at identifying problems and preventing them. Our view is that these issues, which may be very real, would have to be examined, the evidence would have to be collected by a regulator and then decisions would be made on what are the best steps to address them, including regulatory actions, as opposed to legislative solutions that have a huge impact on the sector and a potentially huge impact on individuals, customers and employees of the organisations which may be impacted by this legislation. That may be an area of difference today.