Mr. Kieran Donoghue:

Infrastructure is fundamental to our business. In recognition of its importance and as part of our new strategy, we have set up a corporate strategy and public policy group. We have assigned two executives responsibility for all forms of infrastructure, whether it is broadband, energy, waste and water, transport, property or anything else. We want to get on top of what the needs of our clients are and get a handle on the current carrying capacity of the economy regarding those infrastructure items.

What we detected in recent times is that the economy is moving from a phase in which it had excess infrastructure capacity as a consequence of the downturn and the economic recession to a phase now in which we need to think strategically about what infrastructure we need to put in place to elevate the carrying capacity of the economy, which will allow us to deliver more foreign direct investment into it. That is an exercise that we are undertaking with our clients. We will be feeding our proposals for where there needs to be infrastructural investment, both nationally and regionally, to the relevant Departments next year. We would like to recognise and acknowledge the Government's capital programme and decision to involve NAMA, the National Asset Management Agency, in the provision of commercial real estate, housing, etc. This is recognition of the need to now begin to invest in infrastructure for the next phase of growth in the economy.