Higher Education (Basic Amount) (England) Regulations 2010

I sense that the noble Lord is coming to the end of his speech. Indeed, he has made a powerful case to the House, as he always does. To what extent that turns out to be a cogent case will be seen no doubt in the debate which follows. He asked for fundamentals. Perhaps I may ask him to address this one: is it not the case that the Labour Party acknowledged before the general election that there would be a sharp shortfall in the basic funds provided to universities? If not by these means, by what means would the Labour Party fill this gap?