I will take the intervention when I have finished the point. I am interested in the right hon. Gentleman's views.
The second point that Browne adopted at our request in order to make the system more progressive was significantly to raise the threshold. The right hon. Member for Southampton, Itchen asked legitimate questions about the pricing of the threshold and what that means in real terms. Those are valid points, but he did not point out that when the Labour Government introduced their threshold they did not increase it at all. So we are making a perfectly valid comparison between £21,000 and £15,000, whether those are in today's prices or 2015-16 prices. It is a significantly better system in which large numbers-roughly 25%-of low-paid graduates will be better off under our proposals than under the system that we inherited from the Labour party.