Dr. Eddie Casey:

On the question on transparency, what we are really trying to highlight is that the traditional focus of the Department in budgetary publications has been on the four fifths of expenditure and revenue that is down to the Exchequer definition of expenditure and revenue. It misses a big gap in terms of what we know is Government activity. I refer to genuine Government activity that matters just as much for stimulating the economy as every other form of expenditure and revenue. Towards the end of each budget publication, there is what is called a "walk" from Exchequer to general Government. The general Government figures are the more comprehensive ones that we really care about. We would like to see the walk from the Exchequer to general Government produced in a very clear fashion. We would like to see it on a gross basis, which means what is actually happening with spending could be seen. What is actually happening with revenue could also be seen. Right now, we cannot tell any of this. If there were a huge jump in revenue that were perfectly offset with expenditure, we would not see it because the information is all in net terms.