Regulation is not bad, but bad regulation is bad, and too much regulation does have an impact, it does have an effect. We also made the case all the way through that the public sector and the private sector should be the same. The Government has given a carve-out, an exemption, to its own entities and its own companies, and that actually sends the wrong signal. Now, Mr Shaw said in the committee stage, "Actually, they're covered later on in a different way. We might do some more." But the signal it sends to the private sector is: one rule for you, a different one for us when it comes to what the Government does. The Government says that, well, they can instruct these companies as to what they want them to do with their letters of expectation, but, actually, what it says in this document, in this law when it's passed: if a company doesn't meet the requirements of the law, they break the law. And the Government is really saying to the private sector: one rule for you, a different one for us, we know best. I think it sends the wrong signal.