Lord Kerr of Kinlochard (CB)

My Lords, the £570 million is a gross number; the net number would take account of grants to our own people benefiting from the scheme. I hope that the Minister will not be too distracted by the ghosts of Christmas past rattling their chains and coming up with absurd estimates of the cost of this scheme. It is, as the noble Lord, Lord Reid, said, an unalloyed benefit that we are going back to Erasmus. It is the other bits of the Statement that I would like to press the Minister on. She rightly pointed out that this is of considerable economic benefit, potentially. The Statement and what was said in the other place makes it clear that the negotiations on electricity are intended to move swiftly. If it is possible to achieve more efficient use of the interconnectors, that will be an immense benefit to the United Kingdom and to our continental friends. Obviously, it is crucial that we get the SPS agreement, and it would be good to have a firm link between the emissions trading schemes. My understanding is that the intention is to do all that before the next summit. But the one thing that did not appear in the Statement was any indication of the date for the next summit. Can the Minister confirm that it will be, at the latest, no later than one year after the first summit—that is, by May?