Mr. Brendan Butler:

I will speak about the global economic forum and the related point about the value of consulates. One of the key issues with all of these initiatives is that it is hard to measure their impact. It would be useful to find a means of undertaking some cost-benefit analysis to determine whether the holding of an event, or the establishment of a consulate, actually yielded a positive return. Our instincts tell us that it should, but that is not scientifically based in any way. It has been suggested that as a country, we probably need to come up with some criteria for determining the value of some of the decisions being taken. We need to assess whether doing X is more valuable, in terms of international reach, than doing Y. Would we get more value from holding a third global economic forum than from spending money on The Gathering or other events? It is a flaw in our policy process that we find it somewhat difficult to measure these things in a real way. We tend to rely on instinct, touch and feel. The best information comes in the form of feedback from companies. It would be much more effective if some cost-benefit analysis or scientific approach was used when some of these decisions were being made.