Yes, I do keep all rates and thresholds under review, always looking to the market to see what's happening. It is the case, I think—and Nick will agree with me on this—that tax only plays a part in the decision regarding somebody's choice as to where to live, and I'm sure that he will think of 1,000 wonderful reasons to live in his constituency of Monmouthshire as well, but I do understand that house prices in Monmouthshire are much higher than in other parts of the country. 

We do have the opposite situation, then, of course, across the border in north Wales, where houses in Flintshire and Wrexham, for example, are around 25 per cent lower than across the border in Cheshire west, Cheshire and Shropshire. So we do see a very differential picture across Wales, but, yes, I do keep these issues under constant review.