:00:00. > :00:09.This is Business Live from BBC News with Ben Thompson and Sally Bundock.
:00:10. > :00:11.Divided by Brexit - as leaders gather for
:00:12. > :00:13.a summit in Brussels - we look at what the other
:00:14. > :00:18.27 EU members want out of Britain's departure
:00:19. > :00:19.Live from London, that's our top story
:00:20. > :00:40.Immigration, trade, human rights or reform.
:00:41. > :00:44.As Brexit talks continue, we'll assess what's at stake
:00:45. > :00:55.Overseas tech firms say they'll still want to buy
:00:56. > :00:57.the ailing tech firm, despite government efforts to keep
:00:58. > :01:04.And it was a disappointing session in Europe and the US yesterday,
:01:05. > :01:09.with falling oil prices, and inflation denting confidence.
:01:10. > :01:16.Oil prices are now down 17% from the peak in May.
:01:17. > :01:18.Taking the human out of human resources.
:01:19. > :01:20.We meet the woman who's software aims to automate the personnel
:01:21. > :01:24.process in the vibrant Nigerian economy.
:01:25. > :01:27.Today a survey reveals that four in ten millennials have no pensions
:01:28. > :01:35.Who or what will look after you in your old age?
:01:36. > :02:00.Sally, I'll look after you in your old age. It will probably be a
:02:01. > :02:02.robot, he will do a better job of starting the programme than I did.
:02:03. > :02:04.We start in Brussels where as you've been hearing -
:02:05. > :02:06.European Union leaders begin a two day summit.
:02:07. > :02:09.Top of the agenda of course - Brexit - after formal talks
:02:10. > :02:13.on the UK's departure from the EU began this week.
:02:14. > :02:15.But there are different views around Europe
:02:16. > :02:21.on what Brexit should look like - let's take a look.
:02:22. > :02:24.The new French president Emmanuel Macron wants to keep
:02:25. > :02:27.Britain a close partner - saying the "door remains
:02:28. > :02:32.open" to the UK changing its mind about leaving.
:02:33. > :02:35.For Germany's chancellor Angela Merkel it's about maintaining
:02:36. > :02:41.Like the single market and freedom of movement.
:02:42. > :02:46.She has urged other member states to stand firm over these.
:02:47. > :02:50.In Italy, Brexit is very much being seen as a wake up call for Europe.
:02:51. > :02:55.Especially on curbing migration from outside the Union.
:02:56. > :02:58.Then there's Ireland - which will have the EU's only land
:02:59. > :03:09.Checkpoints with Northern Ireland were scrapped at the end
:03:10. > :03:12.of the Troubles almost 20 years ago - it's worried a "hard"
:03:13. > :03:16.Finally - a big issue of course for all the countries -
:03:17. > :03:19.the future of the 3.6 MILLION EU citizens living in the UK
:03:20. > :03:22.If affects some more than others of course -
:03:23. > :03:38.He is here to represent the view of at Henley Business School.
:03:39. > :03:42.He is here to represent the view of Ireland, good to see you. Give us
:03:43. > :03:47.that perspective, we touched on the view of the only land border, tell
:03:48. > :03:51.us more. I think the direct impact will be greatest in Ireland,
:03:52. > :03:53.particularly because it has the only land border but it reflects the
:03:54. > :03:59.relationship between Ireland and the UK, the common travel area has been
:04:00. > :04:04.there since 1923, more formally since 1952, the fact that Ireland is
:04:05. > :04:06.one of the key negotiating priorities identified by the
:04:07. > :04:11.European Union reflects the importance of this and also, even
:04:12. > :04:18.quite in tangible, sorry intangible -- tangible things like trade
:04:19. > :04:22.between Ireland and the UK, the second busiest ever ridden a world
:04:23. > :04:29.between Dublin and London, for the half million passengers each year.
:04:30. > :04:34.Sorry, adding to this, to complicate things, UK Prime Minister looking to
:04:35. > :04:37.do a deal with the DUP of Northern Ireland, what will that mean in
:04:38. > :04:42.terms of how this plays out, is that good or bad for economics and trade,
:04:43. > :04:47.we leave the politics alone, that's extremely, the catered. There are
:04:48. > :04:51.positives and negatives. The DUP had a meeting with the new Irish Prime
:04:52. > :04:54.Minister last Friday in Dublin, they came out talking about a sensible
:04:55. > :05:00.Brexit which works for Northern Ireland and the Republic and I think
:05:01. > :05:03.we have failed to understand that Northern Ireland particularly is
:05:04. > :05:09.quite dependent on trade with the EU and probably up to 30% of its
:05:10. > :05:13.exports come from that macro or exported to the Republic so it's
:05:14. > :05:17.important for the Northern Ireland economy as well as the Republic. And
:05:18. > :05:21.what we understand we are looking at a deal for it the UK will be outside
:05:22. > :05:25.the customs union and the single market so will that be very damaging
:05:26. > :05:31.for Ireland or is Ireland already given review for that outcome and
:05:32. > :05:36.positioning itself? The fact that the new Cabinet in Ireland last
:05:37. > :05:40.Wednesday week, we have the Minister for foreign affairs is designated to
:05:41. > :05:44.be the Brexit Minister, that reflects a clear recognition of this
:05:45. > :05:49.at the level of government. I think there are going to be impacts, there
:05:50. > :05:52.was a report this morning from the economic and social research
:05:53. > :05:57.Institute in Dublin which suggests a monetary impact might be in the
:05:58. > :06:01.region of over 600 million euros over three years, other important
:06:02. > :06:05.issues relate to the way in which particularly the food industry is
:06:06. > :06:09.dealt with, I think that's furry important but the wider context, a
:06:10. > :06:13.fact that the UK is an important trading partner, other parts of the
:06:14. > :06:17.world have become more important for Ireland over time, exports to the UK
:06:18. > :06:23.since 2010 have only increased by five and a half percent in
:06:24. > :06:28.comparison to Nafta which increased by 44% and others which increased by
:06:29. > :06:32.51%. The balance and composition of trade in the Irish public as trade
:06:33. > :06:41.-- is changing. We appreciate your time and analysis. And just to say,
:06:42. > :06:44.the two de summit kicks off now embrace all is and we keep you
:06:45. > :06:49.across any news coming out of that. We will. -- the summit kicks off in
:06:50. > :06:50.Brussels. Let's take a look at some of
:06:51. > :07:08.the other stories making the news... Shares in the car parts maker
:07:09. > :07:11.Takata Corporation have slumped by more than half following reports
:07:12. > :07:13.it could be preparing It's lost three quarters
:07:14. > :07:16.of its value since last week. Takata is at the centre of the car
:07:17. > :07:19.industry's biggest ever recall - nearly 100 million cars -
:07:20. > :07:28.over faulty airbag inflators. George Clooney's luxury Tequila
:07:29. > :07:30.brand is being bought by drinks giant Diageo -
:07:31. > :07:33.in a deal that values it Casamigos, which means "house
:07:34. > :07:39.of friends," was founded in 2013 by the Hollywood star
:07:40. > :07:42.and his friends - nightlife entrepreneur Rande Gerber,
:07:43. > :07:46.who is married to model Cindy Crawford, and real estate
:07:47. > :07:55.developer Mike Meldman. Iran's Zagros Airlines has signed
:07:56. > :07:58.a deal to buy 28 new Airbus planes It will take 20 new A320 Neo jets,
:07:59. > :08:02.and eight A330 aircraft. Iran has stepped up its order
:08:03. > :08:23.of planes following the lifting How can Tequila be worth $1 billion?
:08:24. > :08:29.If you have George Clooney involved, his brand alone adds value. You are
:08:30. > :08:34.a bit of a fan, I'm due? Well, you know, I'm not saying it either way,
:08:35. > :08:38.George Clooney, if he wants to be on the programme, we have something to
:08:39. > :08:44.talk about. You are very welcome George. You sound very envious, have
:08:45. > :08:46.you got Clooney envy? It's $1 billion, he is not going to be
:08:47. > :08:46.envious? The boss of Foxconn has said
:08:47. > :08:49.he will still try to buy Toshiba's chip business,
:08:50. > :08:51.despite news that a government consortium has been named
:08:52. > :09:02.the preferred bidder. Nice to see you. We won't ask you
:09:03. > :09:07.about George Clooney but Phil are saying about the latest on Toshiba!
:09:08. > :09:12.I had a perfect answer for you but I'll answer about Toshiba. Tell us,
:09:13. > :09:20.tell us about George Clooney, I want to know. I think we all should start
:09:21. > :09:25.our own tequila brand and try to match that. Anyway... Just yesterday
:09:26. > :09:31.we told you that Toshiba appears to have selected the Japanese remained
:09:32. > :09:37.led group as a preferred but the issue was that the offer was lower
:09:38. > :09:42.come third to the one offered by the Thai Burmese company and its been
:09:43. > :09:45.speculated that Toshiba might be reluctant to take the offer because
:09:46. > :09:53.of that close ties with China. But to be fair, the company which took
:09:54. > :10:01.over at another troubled company Sharp, Sharp is starting to make
:10:02. > :10:07.money and its applying to relist its shares on the Tokyo stock exchange
:10:08. > :10:12.so at the Foxconn AGM, the boss said he is not giving up on buying the
:10:13. > :10:18.crown jewel of Toshiba, the only unit that seems to be still making
:10:19. > :10:21.money. And hopefully we'll find out the Toshiba final decision by next
:10:22. > :10:30.Wednesday when Toshiba holds its shareholder meeting. Good stuff,
:10:31. > :10:33.thank you. We have a little break from George Clooney news and I'll
:10:34. > :10:39.talk about the markets. The story we mentioned in the round-up, to cats
:10:40. > :10:46.and the airbag recall weighing on the Nick Cave. Shares coming down.
:10:47. > :10:51.We then following the roller-coaster rides over the next few months and
:10:52. > :10:55.it could now end up in the bankruptcy court.
:10:56. > :10:57.Weaker oil prices dragged down the US markets too.
:10:58. > :10:59.Oversupply of shale and concern about Saudi Arabia's policy
:11:00. > :11:04.towards oil and OPEC have left markets a little tense.
:11:05. > :11:06.In Europe we get eurozone consumer confidence figures later today -
:11:07. > :11:09.expected to see a slight improvement - but that's ahead of
:11:10. > :11:11.those Brexit talks - and as we've been hearing -
:11:12. > :11:24.what the UK's departure could mean for everyone else.
:11:25. > :11:30.Maybe it will mean nothing, maybe they don't really care that as we
:11:31. > :11:31.have heard already, the repercussions likely all around the
:11:32. > :11:33.world. First let's head to the US
:11:34. > :11:36.and Michelle has the details about what's ahead on Wall Street
:11:37. > :11:46.this Thursday. How healthy are the American
:11:47. > :11:50.financial institutions, can they withstand recession? The Federal
:11:51. > :11:55.Reserve will release results of its round of stress tests, the first
:11:56. > :12:00.round and these were mandated under the Frank reform law. Wall Street
:12:01. > :12:03.will learn how much money hangs can devote to dividends and stock
:12:04. > :12:10.buy-backs over the next year, but was one of those banking stock
:12:11. > :12:14.investors, King attention to accentuate, the consulting firm
:12:15. > :12:19.expected to report a rise in its third 40 revenue and a drugmaker my
:12:20. > :12:22.long faces a key test from shareholders, hitting the headlines
:12:23. > :12:26.after hiking the price of heavy pins, several large US pension funds
:12:27. > :12:33.are pushing for key executives to be ousted. That was Michelle and the
:12:34. > :12:43.United States, looking ahead to the day in Wall Street. Good morning to
:12:44. > :12:59.Trevor who is a representative of the pound has been on the weak side,
:13:00. > :13:05.I don't think today will be that critical for the pound, it's more
:13:06. > :13:08.about the reciprocal rights for the UK and EU citizens and that should
:13:09. > :13:12.be relatively uncontentious but there's loads of contentious stuff
:13:13. > :13:18.coming along. We would expect to see moments where it feels like the two
:13:19. > :13:21.sides aren't talking to each other, maybe we start to worry we will
:13:22. > :13:24.leave without a deal and the pound could weaken, there is lots of
:13:25. > :13:29.possibilities, at the moment with a hung parliament you have rebels
:13:30. > :13:33.within the main parties pushing for a much softer Brexit, maybe staying
:13:34. > :13:39.in the single market, if the markets said that, they could go up. For
:13:40. > :13:43.currency speculators this is a gift, to what extent do they exaggerate
:13:44. > :13:48.the move in Stirling, do you think? I don't know, I would say the
:13:49. > :13:51.speculators, the markets, dry to work out what the sensible level for
:13:52. > :13:56.the pound is based on the economic fundamentals and the key thing is,
:13:57. > :14:01.when the Brexit boat happened, the pound fell about 15%. Because
:14:02. > :14:05.markets took the view that the UK economy will be weaker and this is
:14:06. > :14:09.what the markets are focused on, is the UK going to come through
:14:10. > :14:13.absolutely plain sailing, leaving the EU, fine? Maybe the pound has to
:14:14. > :14:17.go for that reason, more difficulties, I think it will go
:14:18. > :14:24.down. The old price was on a moment ago, if we were God since the start
:14:25. > :14:30.of the peak, it is down 17%, too much supply, not enough demand, and
:14:31. > :14:36.now this concern over what Saudi Arabia is going to do, where are we?
:14:37. > :14:40.The energy markets seasonally is usually strong in the summer, it's
:14:41. > :14:45.the summer driving season in America but supply coming out of the
:14:46. > :14:49.woodwork, US showers they've managed to do that cheaply, it was at what
:14:50. > :14:53.one could they not afford to get it out of the ground, normally it's
:14:54. > :14:58.more expensive. The root account has risen quite rapidly, coming back on
:14:59. > :15:03.stream, but personal western over the dollar, the Chinese economy
:15:04. > :15:06.suggestions that it's slowing down. We may be getting a forewarning of
:15:07. > :15:12.bonds ahead for the stock market, people focusing on the weaker data
:15:13. > :15:16.in China. People buying equities, interest rates low, which is not
:15:17. > :15:20.rising, the central bank will keep things moving. Trevor, thank you.
:15:21. > :15:24.Trevor will be back later and we will be grilling him about pensions.
:15:25. > :15:29.That kind of what he does for a living. And lots of you have been in
:15:30. > :15:31.touch about what you think will happen when you retire or get older.
:15:32. > :15:39.Keep your comments coming in. This is all to do with the number of
:15:40. > :15:42.young people who don't have any sort of savings for old age. It is not
:15:43. > :15:43.just young people either. Middle-aged.
:15:44. > :15:46.We'll meet the woman whose software firm
:15:47. > :15:48.is aiming to automate Human Resources in Nigeria.
:15:49. > :15:51.But is it a good idea to take the personal out of personnel?
:15:52. > :16:07.You're with Business Live from BBC News.
:16:08. > :16:12.When I was little, I used to go strawberry picking. It was great
:16:13. > :16:15.fun. We ate more than we brought home but it was great.
:16:16. > :16:17.Think of summer - maybe you think of strawberries,
:16:18. > :16:21.raspberries or salad tomatoes and lettuce.
:16:22. > :16:24.All that fresh stuff that is in season in the UK.
:16:25. > :16:27.But there's a warning today that British farms can't hire enough
:16:28. > :16:30.workers to pick the fruit and salad, with more than half of farmers
:16:31. > :16:33.saying they don't know if they will have enough migrant
:16:34. > :16:36.Many growers blame the weak pound, which has
:16:37. > :16:38.reduced their workers' earning power, as well as uncertainty over
:16:39. > :16:47.Sean Farrington is on a soft fruits farm in Surrey.
:16:48. > :16:53.Good morning, we are actually farm in Surrey, mainly strawberries, they
:16:54. > :16:57.do lots of other food here, where we are talking about this BBC survey
:16:58. > :17:00.where more than half of growers of fruit and salad across the country
:17:01. > :17:04.are a bit worried that this summer they won't have enough migrant
:17:05. > :17:07.workers coming from overseas to be a will to pick all the fruit needed
:17:08. > :17:12.over the summer. We can talk to Lawrence, who represents the British
:17:13. > :17:17.summer fruit industry. Lawrence, how important our overseas workers to
:17:18. > :17:21.the British fruit industry? Absolutely vital, 95% of our workers
:17:22. > :17:25.are from Europe, and if we didn't have them, we wouldn't have an
:17:26. > :17:29.industry. And so what are the key thing is, is it Brexit negotiations,
:17:30. > :17:32.the strength of the pound or the weakness of the pound making these
:17:33. > :17:35.workers think I might want to work elsewhere, what other things that
:17:36. > :17:42.would change that would help you out? We are losing workers because
:17:43. > :17:47.of the devaluation of the pound, 50% reduction, remittances will be
:17:48. > :17:52.lower, but also there is a xenophobic feeling that they are not
:17:53. > :17:55.welcome in this country. It is a global market. We have growers in
:17:56. > :18:00.Portugal who are employing Romanians and Bulgarians. They can go
:18:01. > :18:03.anywhere, they don't have to come to this country. What difference does
:18:04. > :18:07.it make us if the workers are going elsewhere around Europe, so we may
:18:08. > :18:11.have to get our food from elsewhere around Europe, does it make much
:18:12. > :18:16.difference to consumers around here? We import 140,000 tonnes or so, if
:18:17. > :18:23.we had to import half of that from Holland, Belgium and America, our
:18:24. > :18:27.prices would go up by 50% at least, because they are not waiting for us
:18:28. > :18:33.to to say we want their fruit. The businesses here have that
:18:34. > :18:36.uncertainty. The price of fruit in the UK couldn't up going up if those
:18:37. > :18:44.rules don't go in the way the industry wants them to.
:18:45. > :18:48.Our top story, European Union leaders are beginning a two
:18:49. > :18:55.Brexit is of course top of the agenda, after formal talks
:18:56. > :19:02.on the UK's departure from the EU began this week.
:19:03. > :19:04.Today is the first time the UK Prime Minister Theresa May
:19:05. > :19:07.will face European leaders after she lost her
:19:08. > :19:13.An interesting day ahead in Brussels.
:19:14. > :19:16.When you apply for a job - these days, chances are that it's
:19:17. > :19:19.Paperwork, interviews and short lists.
:19:20. > :19:23.But in Nigeria things are a little different.
:19:24. > :19:28.HR in the country is informal at best, but the market is growing.
:19:29. > :19:32.Our next guest is starting an industry from scratch.
:19:33. > :19:34.Nigerian female entrepreneur, Chika Uwazie, has launched TalentBase -
:19:35. > :19:36.which is available to small and medium-sized
:19:37. > :19:44.The software enables users to manage the records of their employees,
:19:45. > :19:46.create employee roles, as well as being able to track
:19:47. > :19:50.development of their staff with performance reports.
:19:51. > :19:52.And she's hoping TalentBase will help African firms move
:19:53. > :19:58.away from paper systems to a more automated one.
:19:59. > :20:03.Chika Uwazie, the Chief Executive of TalentBase, is with us now.
:20:04. > :20:10.Really nice to see you, thanks for coming in. So do tell us in a bit
:20:11. > :20:15.more detail the problem that your software sort of resolved to a
:20:16. > :20:20.degree in Nigeria. Yes, so, in Nigeria, and across Africa, 90% of
:20:21. > :20:24.small to medium enterprises still use very manual processes, and when
:20:25. > :20:30.I say manual, it is paper. They are still going to the bank physically
:20:31. > :20:42.to pay their employees, they still use XL to do very complicated tax
:20:43. > :20:46.sums. One statistic that surprise me was the number of adults in Nigeria
:20:47. > :20:50.that don't have bank accounts. Something like 56% of Nigerian
:20:51. > :20:55.adults who don't have access to an account, how does your system help?
:20:56. > :20:58.Yes, and so we did was we took it a step further. So primarily, HR
:20:59. > :21:05.systems across the world can pay into a bank account, that because so
:21:06. > :21:09.many Nigerian adults and across Africa don't have a bank account, we
:21:10. > :21:13.partnered with an organisation so you could also pay into a mobile
:21:14. > :21:17.wallet, so then you also get access to a credit card, so now you are
:21:18. > :21:21.added to the financial system, you can do normal payments and you can
:21:22. > :21:24.card. The government are rubbing card. The government are rubbing
:21:25. > :21:29.their hands with glee, because it means they will get more tax
:21:30. > :21:32.revenues in, presumably, if this system is so easy to follow through.
:21:33. > :21:38.Whereas if you had to go to the bank to collect your wages and pay your
:21:39. > :21:40.taxes, you are less likely to do that. Yes, and so currently across
:21:41. > :21:46.Nigeria only tempered scent of people are remitting their what we
:21:47. > :21:49.call pay or employee taxes, so we are partnering with the government
:21:50. > :21:54.to actually automate that process, so that employers can pay on behalf
:21:55. > :21:59.of their employees their taxes. You have made it all sound very simple
:22:00. > :22:02.for us, so we are grateful for that, I imagine when you have
:22:03. > :22:05.conversations with banks or financiers trying to get funding to
:22:06. > :22:09.set up this organisation, as we said, you are sort of doing it from
:22:10. > :22:14.scratch, might have been a little bit more difficult? Yes, very
:22:15. > :22:17.difficult! Because when I started this business I thought I would plug
:22:18. > :22:20.in with a regular system and start a new payroll and I didn't realise how
:22:21. > :22:23.broken the system was. We took it upon ourselves to go to the banks
:22:24. > :22:28.and integrate into the banks is dumb. The first few banks we went to
:22:29. > :22:32.was like, no, I don't understand this, I don't see the need for this,
:22:33. > :22:36.so it definitely did this about a year to get the first bank on board.
:22:37. > :22:40.Now we have four banks on board and gives us access to 80 African
:22:41. > :22:45.countries. I was just about ask you that. You are operating in Nigeria,
:22:46. > :22:52.but this could be something used anywhere in Africa presumably? Yes,
:22:53. > :22:55.definitely. I2 other bank partnerships have access to 18
:22:56. > :23:02.countries, we are looking to go to Francophone next year and then East
:23:03. > :23:03.Africa, starting with Kenya. Exciting, Chika, thank you for
:23:04. > :23:05.coming in. In a moment, we'll take a look
:23:06. > :23:09.through the Business Pages but first here's a quick reminder of how
:23:10. > :23:15.to get in touch with us. The Business Live pages where you
:23:16. > :23:19.can stay ahead of all the day's breaking business news. We will keep
:23:20. > :23:23.you up-to-date with all the latest details, within sight and analysis
:23:24. > :23:27.from the BBC's team of editors, right around the world, and we want
:23:28. > :23:35.to hear from you, too. Get involved on the BBC Business Live web page.
:23:36. > :23:42.On Twitter. And you can find us on Facebook. Business Live, on TV and
:23:43. > :23:45.online, whenever you need to know. Joining us is Trevor Greetham,
:23:46. > :23:53.head of multi asset Loads to talk about but I'm
:23:54. > :23:56.interested, as we discussed earlier, this story in the paper, four in ten
:23:57. > :24:00.millennials have no pension provision. We all know that we
:24:01. > :24:03.should be saving, but it is one thing, knowing we shared, very
:24:04. > :24:09.different to actually doing it. Yes, it is. But you can turn that around,
:24:10. > :24:13.six in ten millennials do have pension provision, and that is
:24:14. > :24:16.because Oporto in Roman. If you ask the same question in 2012 you would
:24:17. > :24:20.have had a much lower figure, so it is not where everyone wants it to be
:24:21. > :24:24.but it is getting better. That auto in Roman, the point is you actually
:24:25. > :24:27.have to physically, consciously opt out, so you are kind of nudged into
:24:28. > :24:32.putting a small amount of money into a pension early on, and if you want
:24:33. > :24:35.to opt out you can but most people actually don't. We were asking at
:24:36. > :24:40.the start of the programme for viewers to say who will fund your
:24:41. > :24:45.retirement. Allison says doesn't national insurance play a part? Yes,
:24:46. > :24:48.but those who have saved sensibly all their lives shouldn't have to
:24:49. > :24:51.pay for them. Sean says I am in a good position with a private pension
:24:52. > :24:56.but could not say the same when it worked in retail. That is a really
:24:57. > :25:00.patchy picture. Colin says, in terms of millennials not putting aside the
:25:01. > :25:03.pensions, he says good on them. The government local authority would
:25:04. > :25:06.only take all their savings anyway once they become ill. This is very
:25:07. > :25:10.controversial right now because of what was not in the Queen's Speech
:25:11. > :25:11.yesterday with regards to pensions, things like the dementia tax and
:25:12. > :25:26.these kind of things, it is a really tricky problem to
:25:27. > :25:29.solve. It is, but the earlier you start trying to do something better.
:25:30. > :25:32.In that same survey, a lot of millennials are quite sceptical as
:25:33. > :25:34.to whether they will ever get a state pension. Is it a case of
:25:35. > :25:37.burying your head in the sand, I could get on housing ladder, can't
:25:38. > :25:41.get a pension, so it is just going to enjoy now. As you get older you
:25:42. > :25:43.start to think I was sure started earlier, that is what the auto
:25:44. > :25:45.enrolment can do. But increasingly people will find themselves saving
:25:46. > :25:49.for other reasons, and perhaps some of that saving becomes long-term
:25:50. > :25:52.saving, so people might use and I account for example. The thing we
:25:53. > :25:56.say is don't save for the long-running cash, cash rates are
:25:57. > :26:02.way below inflation, you are giving money to the government if you do
:26:03. > :26:05.that. Multi-asset. An old tin under the bed. Thank you very much.