Mr. Vasileios Madouros:

The closest analysis I can think of - it does not quite speak to the point made by the Deputy - was published in June. As part of our quarterly bulletin, we published a piece of analysis that tried to look again at some of macroeconomic trade-offs associated with the increased investment in the economy that we need. We need that increased investment, including infrastructure. One of the potential frictions is potential delays, including frictions in the planning system. What some of this analysis showed - it did not quite speak to the point made about inflation - was how this can affect the impact of additional public spending infrastructure. For example, greater delays in the system can affect the degree and efficiency of private investment that might be coming in.