Mr. Sebastian Barnes:

Our mandate also includes a mandate to assess the public finances in the broader sense. Of course this covers many things. Ultimately the choice on these is for the Legislature. It is an important part of IFAC's duty to call things as we see them within the mandate. Within this is an issue Deputy Doherty has raised, which is pensions. It is one of the major risks. It would have been remiss of us not to raise questions about it. We have not argued for specific solutions to it. We have made a number of statements and put ideas on the table. The same is true with legislation. We see from other countries that legislating for these rules has been helpful to them in stabilising the public finances. It is in this spirit that we provide it as advice. It would help to anchor the fiscal stance, which is part of our mandate to consider.