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I agree with you Arjan, you are spot on with your assessment. There seems to be an abject state of denial amongst retailers about where we are as a sector. We need expert partnerships particularly in fresh foods and nobody has come close to building the correct fresh model aside from the Musgrave Budgens model that ultimately failed due to lack of scale. I am also struggling why people cannot understand why banking or any other running cost would be on a retailer’s wish list to reduce. The merchant charge savings alone if Booker (symbols not the cash and carry independent warriors) customers were able to operate under an affinity cost scheme with parity to Tesco, would be significant. The question always will be if the intent is there from Tesco Booker to do these things. But I argue why wouldn’t they? If their wholesale customer’s (symbols) profitability is improved its ultimately going to benefit them. If Tesco bank enters the business banking arena it could lead to lead to a dramatic reduction in banking costs and potentially give retailers access to lending streams with rates that the current ‘too big to fail’ high street banks would not entertain. All if, buts and maybes but I would wage a bet that Tesco are not going to just sit and let the wholesale business wither away, after all they just paid a hefty price for it!