Dr. John Curtis:

At the end of the accounting period to 2020, we have a target to hit. At this stage it looks like we will exceed that so we need to fill that gap. There are various allowances and, from my understanding, the Government already holds some of them that it can use to fill that gap.

Ultimately, however, the EPA, which has administered the emissions trading scheme in this country, would explain that when one tries to balance the gap to achieve the target, one buys allowances from wherever they exist in the market through the EU emissions trading scheme. If the Austrians have a surplus, the Austrian exchequer will wish to recover money for that and will be more than happy to sell it to us and we will achieve compliance in that way. As to whether one wishes to call that a fine, the money will leave the country and there will be no productive investment from that spending, which is a missed opportunity.