Mr. Paul Sweetman:

What we really have to focus on is making sure that a regulatory regime exists whereby there can be a level playing field between the two jurisdictions. On a broader level, this is something we have seen the US describe as a challenge for investment in the EU, where there needs to be a level playing field for US companies as they operate in the 500 million person EU market. It is something that we have to keep cognisant of. It is at the heart of the competitiveness agenda and the regulatory agenda. The EU is pushing for simplification and we need to try to help as a member of the EU in how we can achieve this.