Mr. Seamus McCarthy:

I would be bluffing if I said I knew. I have not examined that statistic as to how it compares. With most public sector bodies, pay is a very substantial part of expenditure in any year. As to how unusual Waterford would be at 85%, I cannot comment at the moment.

I should say that, along with our prohibition on commenting on policy in reports, we tend to regard the allocation of resources as something that is in the policy sphere, so I do not comment on it. I just draw attention to where there may be a problem, a trading difficulty or a going concern issue. I do not suggest, and do not want to get involved in, a potential solution.