—saying the same thing, which I'll come onto. And Rhondda Cynon Taf, of course, as well, stockpiling £152 million of usable reserves. Others, like Powys County Council, my own local authority area, are having to balance their books after years of cuts to their budget. So, does the funding formula need to change? Yes, it absolutely does. And the most significant change in that funding formula in my view is that the change needs to take into account a significant population change in the age of its older population.

The Office for National Statistics' prediction for Powys is that there'll be a 7 per cent fall between 2014 and 2039. This, by the way, is the largest predicted fall amongst all 22 local authority areas. But, during the same period, Powys's older population, those over 75, is going to increase from 11 per cent as it is now to 23 per cent in 2039. So, by 2039, the ONS is predicting that a quarter of the population of Powys will be over 75 years of age, and that is a rate that is significantly greater than the national average is predicted to be in 2039. Why is that? It's attributed mainly to people wanting to retire to Powys. Why? Because it's a beautiful part of the country—it's the most beautiful county in the UK. People want to retire to the area. But in some years after their retirement to the area, there's a consequence, of course, of that ageing population. I don't think I need to go into too much detail on that: the reasons are obvious. [Interruption.] Well, if Joyce Watson wants me to go into that, there is a cost to social services. We all know that the biggest cost to a local authority is its social services budget, and if they've got an older population there's going to be a significant increase to the social services budget that's required. The funding formula does not take that into account and that's exactly why we're asking for an independent review of the funding formula to take place.

Age Cymru provided a very good briefing to me earlier this week, highlighting the importance of community facilities and free public transport in providing the opportunities for social interaction to tackle loneliness and promote health and well-being for older people to remain active and retain their independence. And, of course, this is all the more important in rural areas. If you're running services in very rural areas, it's always going to cost significantly more for that to take place, and that cost—. I give the example of when Joyce Watson was talking about Welshpool library the other week. That library's being downgraded because of the poor financial settlement that Powys County Council receives from the block grant from Welsh Government, and that's a consequence of the unfair formula.