I agree with my right hon. Friend. Inflation is the worst tax on our economy and important steps are being taken by the independent Bank of England to raise interest rates, to make sure that inflation gets back to its target zone. That all seems to be on track. Monetary policy has been tightened already, and we see that in the environment in which our small and medium-sized businesses are working. They have been squeezed by higher interest rates, and the evidence we received showed that the acceptance rate for credit has fallen from 80% to 50%, so it does not feel like the right time to be tightening access to finance for small and medium-sized businesses through a change in regulations. It particularly does not feel like the right time to be doing so unilaterally, when the EU and the US are not following the Basel 3.1 rules.