Mr. Derek Moran:

The reality is that under the rules that now operate, these would have been cyclical revenues and the rules would not have allowed us to spend. The Deputy's comment is a fair one. From 2016 onwards, budget targets will be expressed in cyclical terms not in nominal terms, so when one strips out the bonus that is not sustainable, they are the figures one looks at. It is symmetrical. If the economy turns down and one has to spend more, it does allow one to move in both directions. We are in a much better position. I did characterise the upside during the course of this year. The deficit target fell from 2.7% at the start and it looks like we are going to come out at 1.7%. If one goes back ten or 12 years that would not have been the situation. As the moneys came through they tended to be used. Structurally, and within a legal, rules-based framework we are in a much better position than we were in the past. In addition, the level of scrutiny, whether it be domestic or at EU level, is much higher and more intrusive. Alarm bells would ring much more loudly and much earlier.