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Mark Watts

Dec 23, 2025

21:55
Start
21:55
there.
21:56
That's a good, you know, start with the end in mind.
21:58
If the objective is to make the change and you're not going to pay for it yourself... and you don't want to burden the taxpayer with it, then you need to actually put in place an environment where investors can look at it and say, yes, that's a coherent and stable framework, and we can therefore make long-term decisions off the back of that framework.
22:21
If you can't get to that point, there are quite a few downsides, some of which are very obvious, some of which aren't.
22:28
But effectively, uncertainty generally means risk, And risk almost always, for an investor's mind, means they either don't play at all or they demand a higher return or a higher cost of capital.
22:40
And that just echoes through the system.
26:26
That's not going to happen.

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