Mr. Simon Murtagh:

In a sense, we would be avoiding the problem if we did not do this, so it is not populism in that sense. The work we mentioned by Piketty and Chancel in France goes back to this point. I mentioned this at the last committee meeting as well. Broadly, we are talking about a chunk of 40% or 50% in that 10%. It would be impossible to ignore that as an issue-----