My Lords, I apologise for leaving the depot prematurely a few moments ago.

I rarely agree with anything that the main Opposition spokesperson on transport has to say, and I notice that he glossed over the fact that hundreds of bus routes and thousands of bus miles disappeared under the previous Government’s policies. However, he does have a point as far as the financing of franchising is concerned. Does my noble friend accept from me, the former chairman of a major bus operator, that franchising outside our major cities in particular will be an expensive business, and that if franchising is to succeed, as most of us on these Benches would hope, it must be properly funded? What discussions have been held between his department and His Majesty’s Treasury to ensure that proper funding is in place?