I am not going to get into percentages, but large amounts of regulation come from Europe. It is important, however, that we do not gold-plate those regulations. That is what my right hon. Friend the Chancellor was talking about when he made it clear that we should not gold-plate the regulations that come from Europe. But surely the most important thing is, again, that if regulations are coming from Europe, we should be part of that debate; we should not be opted out of it. That is why the position adopted by the Conservative party is so foolish.