Mr. John McCarthy:

The council has three roles. First, it has a role in assessing whether the macroeconomic forecasts are appropriate or realistic. On the last three occasions it has said "Yes". It has a role in assessing compliance with the fiscal rules relating to the Stability and Growth Pact and our own domestic rules. Then it has a role in assessing whether the stance of fiscal policy is appropriate. It has a role, but it is on the outside looking in, so to speak. It cannot tell the Government what to do. It can simply advise the Government on the appropriate path. It can advise the Government that the forecasts are appropriate or not. It can advise the Government that it is breaching the EU rules. However, this is a democracy, and the Government ultimately decides what it will do.