Mr. Ronnie Downes:

I will make the general point that the distinction between current and capital expenditure is not so much a matter of discretion. We are trying to come up with an objective, defensible and correct application of public accounting rules. Capital investment has a particular meaning, that is, investment in the creation of an asset that has a life and will generate returns beyond the one-year period. That is seen, for instance, in investment in social housing-----