Well, Suzy, following the vote, I was very keen that we work very closely with colleagues in higher education and further education, to get an understanding from on the ground about the potential impact. So, in terms of preparedness, we started that group in the September, and that work from that group, which includes both HE and FE, has been instrumental in helping the Government form its views, which were articulated in the Government's White Paper, 'Securing Wales' Future'. There has been ongoing work being done—as the debate in London and Europe becomes a little bit more clear, then it becomes a little less clear, and then a little bit more clear, but, bearing in mind the difficulties of working in an ever-changing field, we have been refining those approaches. Each institution has been looking at their own institution, because, as you can imagine, although we have an overview of the sector, the challenges are very different for individual institutions—so their exposure, for instance, to the number of European Union students that they have at their college, or the work that they might be doing with Horizon 2020, or their success—and there has been considerable success in the HE field in securing structural funds for various projects—the exposure and the potential impact of leaving the EU, in a 'no deal' or in a 'deal' scenario, is very, very different. But I don't know if, Huw, you want to talk any further.
Maybe just to use the 'no deal' scenario is probably the easiest, isn't it?
The 'no deal'?
Well, yes, because that's the worst-case scenario, so let's look at that one.