Ms Laura Weymes:

It is very marginal relative to what we would have estimated in our last forecast. We have only come down from about 23,000. Much of the effect is through the participation rate, to answer the Chairman's question, which we are profiling to fall this year relative to last year. It is difficult to square in that typically the participation rate is cyclical and tends to respond to overall output levels, but we have reason to believe there is a lag in the response of the participation rate to the improved labour market conditions.