We're mindful of the government's desire to make some savings here, so in a spirit of cooperation, we thought we would put forward a proposal that would see the privatization of the scheme and the reduction in the overhead or expense costs of the program. Had we been consulted at the beginning, our preference would have been to keep the program in place as it was, but we're faced with a shifting ground here and we're trying to react to that responsibly.
On November 9th, 2006. See this statement in context.