 Labour aides are very aware of two facts. If growth doesn't pick up, and if they don't create policy now to bring growth back, they face some damning fiscal decisions in, say, 18 months or 24 months, according to our own Bloomberg economics estimates. And the other is their majority is quite volatile, as Boris Johnson found out just five years ago. Okay, James, very interesting. Thank you so much for being with us. Our UK political reporter, James Walcott. Coming up next, it will be bringing you many more of our top interviews. This is Bloomberg.