Does my hon. Friend agree that sport can bring regeneration to our regional economies? In the late 1990s, as a serving Manchester city councillor, I stood on the steps of the Manchester velodrome that we had built as a precursor to bidding for the 2002 Commonwealth games. It was built on a bleak, desolate, many-acre site to the east of the city that had been de-industrialised in the 1970s and 1980s due to structural economic change. The development was labelled as the greatest white elephant in Britain by some of the press, but if Manchester velodrome had been a country at the 2012 Olympic games, it would have come seventh in the medal table. The development led to the building of the City of Manchester stadium, the national taekwondo centre, the national squash centre and the national hockey centre, so my hon. Friend is putting forward an essential argument.