The commercial and subsidised theatre are intrinsically linked. I wouldn't have had the career I have had without the opportunities I had through the subsidised sector. However, I do think, in any walk of life, subsidy for the sake of subsidy is not always healthy.

I think the worst thing that could have happened to me would have been having a hit at 20. I don't know what that would have done to me. But instead, I had to scrape a living for years. And my first show, which opened in 1969, lost over £45,000, an absolute fortune then.

I'm a war baby: I was brought up with rationing, and my parents always had to struggle. I remember when I was sent to boarding school - Prior Park College in Bath - my father was asked how he was going to pay the fees, and he replied: 'In arrears.'

I'm privileged to have had some success, but I've never forgotten what it was like to queue for a half-crown gallery seat for 'Oliver!' which is why I ensure that there are £20 day tickets for 'Miss Saigon' and that the balconies in my theatres are as comfortable as I can possibly make them.

By the time I was ten, everyone knew I wanted to be a producer. I was a very precocious little boy.