Mr. Fergal O'Brien:

Yes. The main infrastructure gaps are still seen in areas of education. Some of our transport network infrastructure such as strategic roads and access to ports need to completed. There is plenty to be done. I think we can do a lot of this outside of Exchequer funding, which would be the crucial priority for us.

On the issue of capital gains tax, CGT, and the economic rationale for a lower CGT, the universal feedback from business people is that this is now a barrier to entrepreneurship. We want to create a climate of entrepreneurship to help people to set up their own businesses and to take business risks in this economy. In our view, the excessively high rate of CGT is not the way to encourage this. In particular, we would like to see a distinction between the enterprise gain in supporting people in jobs and a speculative gain in the economy which we would regard as a different issue with regard to CGT.