Mr. Andrew McDowell:

I would say Ireland has been an extensive user of PPPs compared with EU countries over the past decade. There is no doubt that particular constraint is beginning to slow the number of PPPs coming through the project pipeline. It certainly is a political and policy matter for the Irish authorities so I would not like to comment directly on the choice of how the Irish authorities finance infrastructure. Suffice it to say there are some other European countries who would have a much more ambitious approach to financing infrastructure, particularly the Netherlands. It is probably the most ambitious country in terms of the development of PPPs to finance infrastructure projects. I do not think it is a coincidence that the Netherlands tends to come on top if one looks at surveys across Europe, in particular surveys among business, in terms of which countries have the best infrastructure for business.