Professor John McHale:

That is a fair point. We look at matters cumulatively but one of our functions is to look at the fiscal stance, which is defined in the Fiscal Responsibility Act, in terms of a change in the structural primary balance. It is done on a year to year basis. When we assess the fiscal stance, we are looking at what has been done in the particular year, taking into account the cumulative effects but trying to provide an assessment budget by budget.