Dr. Conor O'Toole:

I agree. It is very hard to quantify exactly how large the cost pressures are going to be in particular sectors because this is a very fluid and fast-evolving situation, but it is undoubtedly the case that we will get less for the expenditure than we expected. These challenges will only increase. If the international price is a signal to how the commodity markets are working, it will create serious pressures, especially in the housing market. Any large capital infrastructure that requires these international commodities will be a major challenge this year.