consider the US with its massive land and cheap people. Then you look at the UK – a little island where rent and rates are at an absolute premium, and the cost of people is a lot more. The cost of retail is vastly more in the UK than it is in the US and that's before you even stop to consider the US doesn't have VAT at RRP, they put a small amount on afterwards. Whereas, we get stung by 17.5 per cent. And pity the poor Irish and places like Sweden.