Mr. Nick Ashmore:

There is largely a policy question at the heart of the Deputy's comments and we are not in a position to comment on policy. There are many aspects of economic growth and enabling infrastructure is absolutely part of that. We can make a return on parts of enabling infrastructure. We invested previously in a fibre ring around Dublin. That is a business that can create an income. It is a critical piece of infrastructure but is it also something that can operate and be funded commercially without Government subvention. The ISIF is a pool of capital that can be invested commercially and therefore crowd in other investment. It is quite rare in a Government context. Regional economic growth with that enabling investment also needs finance for young and growing companies on a commercial basis in order for that activity to succeed. It is a question of there being different roles and different activities in Government to address different challenges and our mandate is quite specific around commercial investment. We do not have the discretion to stretch beyond that both with respect to the policy we have been asked to execute and Government accounting. Non-commercial expenditure is by necessity voted expenditure.