Thank you very much, Mr. Atkinson.
When P3s come up, the discussion is often about risk management and transferring risk to the private sector. Now, this morning we were told that, when we talk about risk transfer, it is no longer, strictly speaking, a partnership. How do you respond to that?
Is a P3 that is seen as a transfer of risk, with the risk being managed by the private partner, a good way to go? Instead, do you not really need an assurance of long-term funding, whatever the formula is?
The question is for each of you, but I would like you to start, please, Mr. Carlton.