This paper is the second part of an edited version of a Keynote Presentation delivered at the 2006 AUA Annual Conference at Queen's University Belfast on 11 April. The first part was published in perspectives 10.3 in July 2006. In the Presentation Sir David commented on three areas of unfinished business with which New Labour has struggled; in the first paper he considered the funding and organisation of the sector, and concluded with the question: "What will this mean for expansion and fairness?"; this paper concentrates on participation and social justice, and higher education and the public interest. [See EJ739880 for part one this Keynote Presentation.]