Yes, I would agree, with the one caveat being that the Peterborough approach developed after about eight to ten years of social finance focused energy within Great Britain to develop that sector. Lottery funds had been transferred to a trust to support it. The infrastructure was in place that provided some easier backdrops to support the financing and enable that project to go through. Again it could be done strictly by government, but the creation of intermediaries that have financial heft to step in where the government is less likely to want to, where risk is higher, where reputational risks—we've heard some of the concerns—can be pre-borne by that intermediary to some degree, I think makes some sense.
On June 10th, 2014. See this statement in context.