Prime Minister바카라 사이트™s CBI speech 2013
David Cameron spoke about HS2 and the UK economy in his speech to the CBI Annual Conference 2013.
I think this is probably the eighth CBI conference I바카라 사이트™ve addressed as leader of a political party or prime minister. And I바카라 사이트™m pleased to say that as Prime Minister on this occasion, I can report to you an economy that is growing, and growing well; forecast to grow 3 times faster than Germany this year. An economy that is generating jobs 바카라 사이트“ generating jobs faster than almost any other G7 country; we바카라 사이트™ve seen 1.4 million private sector jobs created over the last 3 years.
And to those people who thought that growth in the private sector would never be able to make up for the necessary cuts in the public sector, I can report to you that there are 1 million more people in work, compared with 3 years ago.
We바카라 사이트™ve still got a long way to go, but I can report to you that there are 400,000 more businesses operating in Britain; so I think our economy is on track. We바카라 사이트™re on our way. We바카라 사이트™ve got a lot of work to do but we are on the right track.
And I want to thank all of the business people in this room for the investments you바카라 사이트™ve made and the people that you바카라 사이트™ve employed. And I also want to thank the CBI for this, which is that there were many people who were arguing that we should abandon Plan A, that we should give up on deficit reduction. But in that argument we had a staunch ally in the CBI and I would like to thank John Cridland, your Director-General, who I think has done a superb job for your organisation and for the British economy. Thank you, John.
John has always been very clear about the CBI agenda. And I바카라 사이트™ve been very clear about my agenda; I want to lead a government that is pro-business, pro바카라 사이트‘enterprise, pro-growth. And I바카라 사이트™ve listened to your agenda, and I바카라 사이트™ve tried to respond to every part that I can.
You wanted us to put in place deficit reduction; that was what we did. You wanted more competitive tax rates; we바카라 사이트™ve cut the rate of corporation tax down to 20%. We바카라 사이트™ve even cut the top rate of tax, although that was politically difficult to deliver. You바카라 사이트™ve asked us to prioritise infrastructure; we have prioritised infrastructure, and I바카라 사이트™ll say some more about that a bit later on. You wanted us to reform planning, you wanted us to invest in housing; we바카라 사이트™ve taken on politically difficult changes to planning, but as a result we바카라 사이트™re seeing construction and housing now beginning to grow. It was the right call.
The CBI have also asked me to lead trade missions all over the world. In the last 3 years I바카라 사이트™ve taken a trade mission to every single G20 country, apart from Argentina. I바카라 사이트™m sure I can get there in the end but I haven바카라 사이트™t made it that far just yet; you바카라 사이트™re very welcome to join me when I do.
We바카라 사이트™re seeing some good results. The UK, in the first 6 months of this year, was the biggest recipient of foreign direct investment anywhere in the world; bigger than Brazil, bigger than America, bigger than China. I think that바카라 사이트™s an extraordinary set of figures.
So, we are making progress, but the fundamental challenge that we face, as a country and as an economy, remains the same, which is we need a fundamentally different economic model. We need a more balanced economy. We want to be not so reliant on the South East of England, not to be so reliant on finance. We want a recovery that is for all. We want a more resilient economy. And that remains the huge challenge, and what I want to address in my 15 minutes is the 5 things that I think will make a really big difference in terms of getting that rebalanced, stronger economy that delivers a recovery for all.
Now, the first thing is that we have to continue with Plan A. We have to continue to reduce the deficit. Now that doesn바카라 사이트™t just mean cuts, although we have had to cut public spending and we바카라 사이트™re going to have to go on making difficult decisions into 2015, into 2016. But it also means something more profound, which is building a state that we can afford and making sure we do some fundamental reform of our public services so that there are long-term affordable.
Two examples of things we바카라 사이트™ve done in recent years 바카라 사이트“ again, politically difficult 바카라 사이트“ firstly is the reform of public sector pensions. We바카라 사이트™ve cut the long-term cost of public sector pensions by something like 50% over the long term. Also the higher education reforms 바카라 사이트“ again, very difficult but it바카라 사이트™s much better as a country, I would argue, to have universities that are based on receiving money from successful students rather than receiving money from taxpayers. So we built a more sustainable model. So that is challenge number one: a state that we can afford and sticking to Plan A, sticking to deficit reduction.
The second thing we바카라 사이트™ve got to get right is education. Here바카라 사이트™s one, I think, thoroughly depressing figure for you: 64% of children on free school meals don바카라 사이트™t get 5 good GCSEs, including English and Maths. Now my concern is in the modern economy 바카라 사이트“ and Mike바카라 사이트™s just been talking about how interrelated all our economies now are in this global race. If you don바카라 사이트™t get 5 good GCSEs, including English and Maths it is difficult to play a part 바카라 사이트“ a successful part 바카라 사이트“ in a modern industrial economy. So we바카라 사이트™ve got to improve on this.
And that바카라 사이트™s where the radicalism of this government that you see by breaking up the state monopoly and allowing free schools into education, very strict on the rigor in terms of saying English and Maths are the 2 most important vocational qualifications there are, saying that children should go on taking and retaking English and Maths until they get them. The radicalism is absolutely essential and I hope we바카라 사이트™ll have the full, hearty backing of industry and business and commerce in being very radical on education. I sometimes challenge my own children and say, 바카라 사이트˜Can you think of a job in the world where you don바카라 사이트™t need English and Maths.바카라 사이트™ My son said, 바카라 사이트˜What about football players?바카라 사이트™ I said, 바카라 사이트˜Well, even they need to able to count their money, don바카라 사이트™t they?바카라 사이트™ But it is a fundamental truth 바카라 사이트“ the 2 most important vocational subjects.
So, radical reform on education. And what I want to see is a new norm, so that as people leave school they바카라 사이트™re either taking a path doing A바카라 사이트‘levels and then to university or they are taking a path that involves a proper apprenticeship and skills training. Now, we바카라 사이트™ve seen 1.5 million people start apprenticeships over the last 3 years, but I want to see that built on. And I want to see more of the higher level of apprenticeships that many of the people in this room are now investing in. So that바카라 사이트™s the second thing: education. That is to ensure that the people can take part in a modern industrial economy.
The third is welfare reform. To me welfare reform is very much part of our economic plan, because if you don바카라 사이트™t reform welfare you have a danger that you have people stuck on welfare year after year and, indeed, sometimes generation after generation. So again, I hope you바카라 사이트™ll give the support for the radical welfare reform plans that we have: capping welfare so that no family is better off on benefits than you would be in work. And also, universal credits, as work always pays: for every extra hour you work, every extra job you do, you should always be better off. We get rid of those poverty traps and wealth traps forever.
So I think welfare reform is an absolutely essential part of the economic plan. And to people who say, you know, 바카라 사이트˜What are we going to do about the fact that our economy is generating jobs but so many of those jobs are going to people who come and choose to live here from overseas,바카라 사이트™ I would argue yes, of course you need immigration controls, of course you need limits on immigration, but a real immigration policy is actually a welfare and education policy. That is how we바카라 사이트™ll make sure we fill the vacancies that you are creating with people coming out of British schools, with good qualifications, who can make a real contribution to our economy.
The fourth thing we바카라 사이트™ve got to do after welfare is invest in infrastructure. I said earlier, we바카라 사이트™ve prioritised infrastructure, so while we바카라 사이트™ve made some difficult cuts in current spending, we바카라 사이트™ve seen infrastructure investment grow 바카라 사이트“ there is far more we need to do in the years ahead. Now our plans, I now believe, are really ambitious. What you바카라 사이트™re going to see is a trebling of expenditure on our roads, a roads programme as big as the one in the 1970s; the investment in railways is now bigger than at any time since Victorian times, a massive programme of electrification and, of course, vital new routes like Crossrail, currently burrowing under London 바카라 사이트“ the biggest construction project anywhere in Europe 바카라 사이트“ and of course, the vital investment in HS2.
Now I바카라 사이트™m passionate about this, we need to build new railway lines in our country. We haven바카라 사이트™t built a line north of London for 120 years. Now when people challenge me about HS2 I say this: the West Coast mainline is full. Thousands of our fellow countrymen are standing everyday as they come in to Euston or they go into Birmingham. We need to build another West Coast. So the choice for us as a country is, do we build one of the old Victorian style railways or do we build one of these new intercity lines. I believe it바카라 사이트™s absolutely right to make this investment. It바카라 사이트™s going to unite our country, drive economic growth, make sure our economy shares growth between the North and South, it will link 8 of our 10 biggest cities.
And to people who say, 바카라 사이트˜Well is it going to take up too much of the government바카라 사이트™s budget?바카라 사이트™ Between 2015 and 2020 we바카라 사이트™re going to be spending £73 billion on road and railway investments. HS2 is £16 billion of that. But, another way, we바카라 사이트™re going to be spending 3 times as much on other projects as we are on HS2. I want to make sure we get every penny and value for money from this HS2 investment. I think it바카라 사이트™s fantastic that Sir David Higgins, the man who built the Olympics on time and on budget, is going to be running HS2. One of the first things he바카라 사이트™s going to do is make absolutely sure we drive every extra bit of cost out of this that we can so that it comes in under the budget that바카라 사이트™s been set. There바카라 사이트™s already a £14 billion contingency there, but I know he바카라 사이트™ll do a good job and make it affordable for our country.
And to people who say there바카라 사이트™s some other cost reduction plan that we could also have, I think that is nonsense. I think Sir David Higgins in charge, budget that we have, contingency we have 바카라 사이트“ this is a good investment for Britain. And people who are against it, in my view, are putting our country바카라 사이트™s future at risk, they바카라 사이트™re putting the future of the north of England at risk, and we need to have a concerted consensus across business and across politics, that we get behind these large infrastructure projects.
The same applies with nuclear. I바카라 사이트™m delighted that this year we바카라 사이트™ve come to the agreement about building Hinkley Point C. This is a £14 billion investment. It is thousands of jobs for our country, and more importantly it바카라 사이트™s getting Britain back in to the front line of the nuclear industry, where we belong.
So, that is my 4: the state we can afford, education and skills, welfare reform and infrastructure. And the fifth is this, which is slightly more esoteric, but nonetheless important. In order to have a rebalanced economy, a more resilient economy, an economy that can succeed in the global race we바카라 사이트™re in, we need to have a real culture change in our country in favour of enterprise, in favour of business, in favour of industry.
Now there are some things that the government can do. Obviously we can help encourage entrepreneurship. We바카라 사이트™ve set up these start-up loans which are incredibly successful. The New Enterprise Allowance to encourage unemployed people to start up their businesses. We바카라 사이트™ve introduced the EIS scheme that people tell me is now probably the most generous tax break for people starting up new businesses, anywhere in the world.
But there바카라 사이트™s only a certain amount government can do, and this is what I want to enlist your help for. Earlier on I talked about the agenda items of yours that we had taken up; this is an agenda item of mine that I바카라 사이트™d like you to take up. Which is that we need to get more businesses into our schools to inspire young people about enterprise, about small business, about entrepreneurship and about industry itself.
And there바카라 사이트™s an excellent organisation called Speakers for Schools, established by that man Robert Peston. You normally see him explaining some complicated economic issue on the BBC. Speakers for Schools gets inspirational speakers into schools to inspire young people. And we have agreed, with your help, to get 1,000 business speakers over the next year into schools to do exactly that. And I바카라 사이트™m really delighted the CBI바카라 사이트™s going to help me with this; I think it바카라 사이트™s a really important agenda for our country.
So, those are the 5 things that I think that can make a difference; the things that will make sure we바카라 사이트™re a successful economy in the future. And it바카라 사이트™s not some dry business, economic agenda. In the end, I believe this is a deeply progressive agenda. If we have a state that we can바카라 사이트™t afford and we keep running big deficits, it바카라 사이트™s the poorest in our country who suffer. If we have an education system that is okay for an elite, but is not helping people from challenging circumstances, we let down the poorest in our country. If we don바카라 사이트™t reform welfare we have people stuck, generation after generation, in workless households, unable to build a better life for themselves and their families. If we don바카라 사이트™t have proper infrastructure we바카라 사이트™ll have an economy that is great for the South, but not good enough for the other parts of our country.
So this business agenda, this enterprise agenda 바카라 사이트“ this is, I believe, a deeply, deeply progressive agenda, which is about making sure everyone in our country has the chance to play a part, to participate, to fulfil their aspirations. That is the job that I came into politics to do. That is the job I thoroughly enjoy doing as Prime Minister. We are turning this economy around, we are turning this country around, but it is a long-term plan for success, and a long-term plan for success which we need the support and help of the CBI and all its members. Thank you very much indeed.
See what the government is doing to grow the UK economy
Question
You spoke very passionately about our strengths in areas like education and technology, for instance, but isn바카라 사이트™t part of our success also about innovating and creating new businesses that might not have existed 10 years ago. One example might be FutureLearn, a company we launched a few weeks ago; it바카라 사이트™s now attracted over 150,000 students from 160 countries around the world. Isn바카라 사이트™t part of Britain바카라 사이트™s competitive advantage our ability to generate new ideas, to innovate new businesses and create markets that never existed 10 or 15 years ago?
Prime Minister
That is absolutely right. If we look at where the jobs growth is going to come from, it will come from small start-up businesses taking people on. Obviously we want big successful companies in Britain, and we should listen very carefully to what they are asking for, and infrastructure investment is a key thing that they often mention to me. But it is the start-up, it is the insurgent, where I think the jobs will come from.
So, we바카라 사이트™ve got to make sure that we바카라 사이트™re a country that바카라 사이트™s very supportive of that. That바카라 사이트™s why we바카라 사이트™ve introduced entrepreneur visas, so some of the brightest and best can come to our country with their ideas. It바카라 사이트™s why we바카라 사이트™ve got, in the Enterprise Investment Scheme 바카라 사이트“ the EIS scheme 바카라 사이트“ one of the most generous tax breaks for helping start-up businesses. I think we need to do better, frankly, at linking our universities with catapult centres and other ways of generating ideas out of our universities. It바카라 사이트™s a massive national asset we바카라 사이트™ve got: some of the best universities anywhere in the world. But we can do even more, I think, on that agenda.
Got to make sure that we address all the stages of a company바카라 사이트™s growth. It바카라 사이트™s often said in Britain we바카라 사이트™re good at the angel start-up investment, but then there can be something of a valley of death, or at least difficult, as you go on, grow, until you get to the 바카라 사이트“ where we are also very good 바카라 사이트“ AIM and other investment markets. We need to look at all of these things, but you바카라 사이트™re absolutely right; insurgency, new ideas, innovation: it바카라 사이트™ll be those countries that get those things right that really win.
Question
You talk about rebalancing the economy away from overdependence on the South-East, and obviously you started the local enterprise partnerships when you came into government. I just wondered what your scorecard would be for the local enterprise partnerships, and if you could give us your vision for a, sort of, idea scenario for business support?
Prime Minister
I think the local enterprise partnerships are a success. I think they are better than what we had before, and I think the regional development agencies were too bureaucratic, too expensive, they weren바카라 사이트™t business-led. So, I바카라 사이트™d say the good things about the LEPS 바카라 사이트“ the local enterprise partnerships 바카라 사이트“ is they are business-led, I think that makes a big difference. They바카라 사이트™re also relevant to particular areas; the design of LEPs came from the bottom up, rather than the top down. But, my scorecard report would be some excellent, and some less good.
I think one of the ways to test how they바카라 사이트™re doing is to look at the enterprise zones. Some of these enterprise zones are going extremely well, and you see major investment, and you see the 바카라 사이트“ the figures are not only 바카라 사이트“ they come off the side, because the new factories are being built, and what have you 바카라 사이트“ other areas slower.
So I think it바카라 사이트™s a mixed picture, but I think it바카라 사이트™s the right model, and I think the last thing we need now is to fiddle with the model again. I think we need to now get on and deliver these City Deals: Birmingham being a classic case, where I think it바카라 사이트™s bringing jobs and investment and houses as well. I바카라 사이트™ve got an excellent Cities Minister in Greg Clark, who바카라 사이트™s got a whole team around him in the Cabinet Office to deliver these City Deals, and I think they are an important part of the regional growth agenda.
So, I think a mixed picture, but the right model. We now need to just get on with it.
Question
We바카라 사이트™re a manufacturing business based in the North-East, and we바카라 사이트™re set up as a result of a change in European legislation. We now have 110 people in our business, and we make things. How are you going to ensure 바카라 사이트“ we are seen as a gateway into Europe for many of our clients 바카라 사이트“ how are you going to ensure that the EU debate is a balanced debate that really takes on board things like that, where it바카라 사이트™s positive rather than the headlines of The Daily Mail?
Prime Minister
I think the CBI have hugely helped this morning, with a very positive report.
Look, I think the problem with the European debate is, until I came up with this, I think, very bold but correct strategy of saying, 바카라 사이트˜Let us renegotiate and then let바카라 사이트™s have an in/out referendum,바카라 사이트™ so we settle this issue properly in Britain: until that time, I think the trouble is the debate was just slipping away, and, as I put it, consent for our membership of the EU was getting wafer thin. Now we바카라 사이트™re giving people a proper choice. Instead of, keep it exactly as it is now, the status quo, or leave altogether.
The Eurozone have got to coordinate their economic policies more. They바카라 사이트™ve got to coordinate their tax rates more. They바카라 사이트™ve got to have a banking union. And it바카라 사이트™s right that they do those things. We shouldn바카라 사이트™t stand in their way, but I think it바카라 사이트™s perfectly legitimate to say, 바카라 사이트˜Right, you, the Eurozone countries, need these changes. Well we 바카라 사이트“ outside the euro, we need some changes too.바카라 사이트™ And when we make both those sets of changes, that바카라 사이트™s when we should go back to the British people, before the end of 2017, and have that referendum.
And I think it바카라 사이트™ll be a much more balanced debate, because we won바카라 사이트™t be arguing in/out on the status quo. We바카라 사이트™ll be arguing about staying in a reformed European Union, and a better deal for Britain. ##Question How does announcing the green levies review on Prime Minister바카라 사이트™s Questions square with the need to provide investors with certainty to invest in technologies that can deliver the UK바카라 사이트™s decarbonisation targets?
Prime Minister
Well, first of all, I think we have one of the clearest and most generous sets of incentives for green investment, and this government바카라 사이트™s made a huge amount of steps forward. I mean, most recently, the fact that we have agreed, with Électricité de France, the first new nuclear power station in Britain since 1995, I think is massive evidence of that.
But the fact is, if we look at the problems of people paying their energy bills, you know, the 2 elements of the bill that need really looking at are the extent of culpability in the industry, and the charges that are put on people바카라 사이트™s bills. I mean, if you analyse the 4 bits to a bill, you know, you바카라 사이트™ve got the wholesale costs of energy. Well we바카라 사이트™re not in control of that. There바카라 사이트™s the cost of distributing that energy to people바카라 사이트™s homes 바카라 사이트“ the National Grid and all the rest of it 바카라 사이트“ there may be some changes you can make there. Then you바카라 사이트™ve got the green taxes, levies and charges. And then you바카라 사이트™ve got, effectively, the profits made in these industries.
And it seems to me it바카라 사이트™s those last 2 that we need to look at. So the right policy tools are: competition, and making sure that it바카라 사이트™s a fully competitive market where new companies can come in 바카라 사이트“ insurgents, as we were talking about recently; and the second is to make sure that the green charges, levies and taxes are appropriate. And in my view they got too high, and we need to draw back the costs of them. But I think business completely understands that, and we바카라 사이트™ll go on seeing perfectly good levels of investment into the renewable sector, which we바카라 사이트™ve already seen under this government.
Question
How do you manage negative backlash against the visa bond policy. And how do you manage the challenges that come with trying to integrate the Islamic finance into the London system, such that the centre of gravity of finance continues to stay in London?
Prime Minister
Well first of all, on the visa bonds, this was an idea that I think the Deputy Prime Minister first proposed, but we바카라 사이트™re not proposing to go ahead with it, but 바카라 사이트“ he has lots of good ideas, but this one바카라 사이트™s not one we바카라 사이트™re going ahead with.
The second issue: Islamic finance. If you look at the history of the City of London, it has always been a fast mover. You know, whether it was the eurobond market, whether it was the insurance market, whether it was being the first offshore renminbi trading centre. We바카라 사이트™ve always been fleet of foot, and I think that바카라 사이트™s exactly the attitude we should have with Islamic finance. This is a big and growing market in the world. A lot of it has got a lot of expertise, and I want us to be at the cutting edge of this market.
Now, of course, I want to challenge this to go through, as we try and launch this first Islamic bond 바카라 사이트“ the sukuk 바카라 사이트“ which we바카라 사이트™ll be doing next year. Lots of challenges to go through, but they are not beyond the wit of man to sort out, so we must get these challenges sorted, and I think it바카라 사이트™s a big opportunity, once again, for London to be at the cutting edge of Europe.
Question
I바카라 사이트™m flying, and going by train about 20% of the level I was 20 years ago. A lot of what I do now is videoconferencing, collaborating, and I work from home a lot. So shouldn바카라 사이트™t we invest more in our communication within the structure rather than some of the old fashioned ways of getting around like rail?
Prime Minister
Well, that바카라 사이트™s right 바카라 사이트“ you바카라 사이트™re right, I should have mentioned in my speech broadband, which I think is 바카라 사이트“ particularly for people living in rural areas, it is the most important piece of infrastructure investment that we바카라 사이트™re engaged in. And the news is quite good. We are not top of the pack in Europe on broadband and broadband speeds but we바카라 사이트™re near the top. And the government바카라 사이트™s programme will roll this out over 90% of homes in the coming years. And it is pretty robust. It took some time to get through the EU clearance procedures, but it바카라 사이트™s now going full guns ahead.
But that said, while of course you need broadband speeds, you also need 바카라 사이트“ a modern economy needs modern infrastructure and it needs goods to be able to move around the country. And I think it바카라 사이트™s this idea that, you know, everyone will be home working, no one is going to be travelling, so we don바카라 사이트™t need new infrastructure. Just look at how crowded our trains are at the moment. I mean since privatisation, train use has doubled, so passenger numbers are right up but we need capacity.
I think that바카라 사이트™s one of the problems we바카라 사이트™ve had with HS2 is the early argument, a lot of it was about speed. I make no apology for that. It is important to get from A to B quickly. Have you ever met 바카라 사이트“ is there a businessman here who likes to take the slow train, who likes to go more slowly? Of course not, everyone wants to get places quickly.
But the real argument about HS2 isn바카라 사이트™t the speed, it바카라 사이트™s capacity. You know, the line is full, we need a new line, and building HS2 will not just make it faster and more capacity to get from London to Birmingham, or London to Leeds, or London to Manchester. It will have enormous knock-on benefits for other destinations. There바카라 사이트™ll be more trains that can go, for instance, from London to Blackpool, or London to Shrewsbury.
So, it바카라 사이트™s the capacity argument that we really need to make. And we can see that when you look at what happened with HS1 바카라 사이트“ the Channel Tunnel line 바카라 사이트“ that바카라 사이트™s freed up a lot of capacity in the south-east of England, and that바카라 사이트™s been hugely beneficial.
So, yes broadband is important, but also road, rail and air transport are all going to be important in the future and, frankly, Britain has not invested enough in the past. We바카라 사이트™ve not had enough of a plan. We now have a plan and we should deliver.
Question
How do you react to the CBI바카라 사이트™s warning today for all politicians to stop playing politics with big business? It seems to me that the people in this room are telling Labour to stop playing games on energy, but they are equally telling you to stop playing games on Europe. Will you?
Prime Minister
Well, first of all, on infrastructure and on energy, I think the message from this room is absolutely clear. We want a national consensus. We know this investment is important and politicians should stop taking short-term approaches.
On Europe, no one is playing a game. This is one of the most important questions facing our country. Now, it is my judgement that our current consent to remaining inside the EU is paper-thin. We haven바카라 사이트™t made the argument enough about why Europe matters, and frankly there are lots of things in the European Union that badly need reform. It is too costly. It is not flexible enough. It doesn바카라 사이트™t help with our competitiveness enough. It needs to change.
So the argument I have made is not some short-term tactical ploy. It is a long-term strategic choice for Britain. Let us reform this organisation, let us make changes to how it works, and then put those changes to the British people in a referendum. And what I바카라 사이트™ve put forward I believe has the overwhelming support of the British people, in terms of the right choice to take, and it also has strong business backing too. Yes, of course, this organisation and other business organisations will be absolutely crucial when it comes to that choice in 2017 about whether we stay in a reformed European Union or we leave it.
But be in no doubt, in the end you can바카라 사이트™t stay in these organisations that give up quite a bit of your national sovereignty 바카라 사이트“ you can바카라 사이트™t stay in these organisations unless you take the British people with you. The British people were told about a common market. They were told about an economic area. So much has changed about this organisation and so little consent has been granted, that it바카라 사이트™s time to make those arguments, seek that consent, and as Prime Minister of this country that바카라 사이트™s exactly what I바카라 사이트™ll do.
Can I thank you very much indeed for a really splendid session. I really enjoyed it. Thank you for your questions, and thank you for your reception. Thank you.