Thanks. I wanted to ask the first question as to whether you've made an economic analysis of the potential cuts to higher education. I appreciate that this is primarily in relation to the education portfolio, but if we look at this in a holistic way, any job losses—be those in Bangor, be those in Carmarthen, or be those in Cardiff, with a £21 million deficit in its budget announced recently—are going to affect the economy of Wales. It's pretty ironic that, in the week that is termed 'HeartUnions', potentially, trade unions in Wales are having to mobilise for compulsory redundancies here in Wales. What economic analysis are you making of the potential to our communities of these job losses?