Mr. Nigel O'Neill:

Yes. TII is a member of the Government's construction contracts committee. Most public bodies in Ireland which are involved in delivering infrastructure are members of that committee. It is under the auspices of the Office of Government Procurement, OGP, I believe, and is therefore under the remit of the Department of Public Expenditure and Reform. As of mid-January, a circular has issued saying there is an amendment to the price variation clause in the public works contract. Previously, the threshold for the contractor to obtain relief on inflation was where prices increased by 50% or more, and that would be after a period of 30 months. As of mid-January, that percentage was reduced to 15% and the fixed-price period is 24 months. My view is that does not go far enough because civil engineering is a low margin business; it is highly competitive and we do not think contractors can price in a 15% materials price risk. These are the debates going on.