Mr. James Benson:

It is worth making the point that there must be a commercial element to any development. Builders need to have a margin to allow for the future acquisition of land, which is the raw material, and the costs involved in getting through the planning process. It is a long time before there is any return on that. We need that forward investment and with most traditional builders, those margins are reinvested. Many of our own members around the country are traditional builders who have been in the sector for decades and are looking to reinvest and build homes. It is a very complicated dynamic. The finance model is very complicated.