I have announced today that the UK loan guarantee scheme will be extended until at least 2016. It has a very significant amount of headroom; I think the cap on it at the moment is £40 billion, and we are nowhere near using up that capacity. The important thing about the UK loan guarantee scheme is that it underpins projects at an early stage. Many projects have
gone ahead without loan guarantees, but because they had a commitment on the loan guarantee they were able to proceed and then eventually were able to get funding without it. It is playing a very important role that is understated by the measure of guarantees actually issued.