Mr. Jim Miley:

On the overall figure, Cassells said €600 million a year. There has been some bridging of that gap in the meantime, but we are saying it is of the order of €400 million to €450 million a year, and that needs to be done consistently between now and 2030. That core funding, and we have outlined the capital funding separately, gets us to a place that is comparable to a number of other smaller countries. I am not talking about comparing ourselves to Germany or anywhere else.

On the philanthropy issue, the one point I would make on that is that some of our members of done reasonably well on philanthropy funding and continue to try to push that, but it is very difficult. It does not come easy. It requires a lot of upfront investment from the institution to equip itself to be able to do it. There are tax instruments that need to be looked at by the State. Various proposals have been put forward to Government in this regard over the years. That huge sums of money are given to schools, colleges and various other causes in the US and elsewhere is not all because of the goodness of heart of citizens or wealthy people. It is because the tax structures incentivise it. We need to look seriously at upweighting our tax structures in that regard here.