Mr. Conor O'Kelly:

Obviously the ISIF is a vehicle and a fund which can, through its commercial mandate, continue to invest in various infrastructure projects and they remain off-balance sheet. I have mentioned PPPs a number of times today.

It is the kind of environment where public private partnerships should be looked at more favourably than they were in the past. That is mostly because of the level of interest rates currently and the ability to fund all in at between 4% and 5% for 25 years. I would question whether that type of low rate environment will be available to generations in the future.