What is Swansea's success, then? What can we learn from Swansea?
What I think is important—and this is not about any one institution—what I think is really important is that we look to—. And I can't force institutions to do this. It's a combination, I believe, for all universities, of getting their offer right—so, having a curriculum at their institution that is attractive and offers courses that people want to study. It's about that curriculum being delivered in an excellent fashion, so high quality ratings for teaching, as well as having an infrastructure that is attractive to students. So, it's all about getting the offer right and providing what students, both domestically and internationally, want.
But the evidence would therefore suggest that that model of success that you've just outlined is happening in Swansea but it isn't happening in other institutions, and they're seeing a drop.
Well, as I said, I think what we can see from Cardiff, Swansea and others is that it is possible to do very well in the sector.