Mr. John McCarthy:

As long as the Government balances the books. That is all the rules say. It must achieve its medium-term budgetary objective, MTO, which is essentially to balance the books. It can then choose to spend more if it wants but it has to be able to finance it, either through some form of taxation or by reducing expenditure. That would be a sort of UK-type model where the size of Government is relatively low but taxation is low as well.