I think there are possibly a couple of things to say, and one, in a sense, echoes what I was just saying in the final part of my previous response, which is that part of the quality of the student experience is the richness that you get from having students in your cohort who have different backgrounds and different perspectives. So, if there is a continuing reduction in the number of EU students coming into Welsh institutions, then that richness deteriorates. That doesn't mean to say that the base or the threshold standard of what's required for a degree will come under pressure, it's just about the richness on top of that, which will be, in a sense, a quality-enhancement issue. That would be something that we would wish to try to protect against, but in the end you can't force EU students to come—you have to try and look attractive, and we've touched on that. The baseline requirement assessment of quality will not be affected by Brexit, except in so far as the machinery we use to discharge our statutory responsibility, which is through the Quality Assurance Agency, which themselves are accredited with European Association for Quality Assurance in Higher Education, the European machinery for higher education quality. And there's a set of standards around that, and we would obviously wish not to be in a position where our ability to use and adhere to those standards is adversely impacted upon. Those standards will still exist, and it will be possible for the British system to adhere to them, even if they're not actually able to play in the same way. Then the only other thing I would say is that one of the factors that can cause the quality of the learning and teaching experience to be likely to become inadequate is when institutions come under financial pressure, just because their capacity to maintain the same sort of student experience can get under pressure. So, clearly, we will be looking for and making sure that institutions manage the financial pressures, if there are any—and there are some at the moment, as we've described—and manage those carefully. And in all of that, we will expect institutions to do their duty to make sure that the commitments they've already made to students are carried through. So, where students have already started on the course, they need to be able to finish that course—you can't just pull the plug out. So, all of that comes into the arrangements for quality as well. So, we'll be keeping an eye on that.
Okay. A lot of what you've told us in the last three quarters of an hour or so will have costs attached, depending on the impacts. Certainly, we're in choppy waters as a sector anyway, and the risk is that things will be even more choppy, if you'll excuse that level of political interpretation, over the years to come. I'm just wondering what advice you might have given the Welsh Government in terms of what level of transition funding, or Brexit transition funding, might be required by the sector, and if you have, what the Welsh Government might have told you.
I mentioned earlier that, obviously, we've provided information in terms of the assumptions that the sector are making on income. So, for the year 2017-18, that was £129 million. I think the extent to which that needs to be replaced or supported with transition funding depends absolutely on what the final arrangements for Brexit are, but it's an appropriate point to refer to the report that Professor Graeme Reid has produced, commissioned by Welsh Government. That was, and has, provided advice and recommendations for supporting research and innovation in the transition period. But, again, the Reid recommendations in that report build on the Diamond recommendations, and as soon as Diamond is in place—and Reid is providing recommendations in addition, to establish funding on the basis that the funding needs to be available in Wales to maintain and develop and strengthen the research and innovation infrastructure that we have.
Are you not worried, though, that the clock is ticking and that we really don't know what the situation is at this point?