In Lord Hunt's proposals, paragraphs 41 to 43, you make a number of points there. Paragraph 41, I paraphrase: without obvious carrots it's difficult to see what, other than goodwill and good faith, will bring everybody into the sheep pen, as it were. That point obviously is noted and understood.
Paragraph 43, third line:
"Perfectly possible to have a system of regulation and accountability which carries the authority the government and Parliament can confer but in their operations are independent of government, Parliament and commercial vested interests."
And then you've furnished us with analogies from other regulatory spheres.
And then you have --