I welcome the £500 million being put into the housing market renewal fund. Does my right hon. Friend agree that that money has to be targeted and focused in the pathfinder areas if it is to be used effectively? What does he think of the Liberal Democrat-controlled Liverpool city council, which has spread the money over half the city, including areas that already receive funding under the new deal for communities? Most surprisingly, the city centre, a thriving housing market, is also included. Does my right hon. Friend consider that to be the best way forward for the pathfinder areas? Secondly, will my right hon. Friend say whether his Department has been party to the Treasury's discussions on housing tax credits?