Dr. Martin O'Brien:

As far as I understand, there is a commission already in place, which is considering the various policy proposals in that regard. From the perspective of the public finances or the budgetary stance, within that mix that Dr. Kelly was talking about and the constraint of needing to provide sustainably funded expansion in either current or capital spending, it is reasonable to consider that relative mix. If there is scope for sustainably funded capital spending that is paced appropriately and does not necessarily add to the inflationary problems people are facing, then a certain argument could be made for increasing the capital expenditure in that regard. However, at the current juncture, we are still facing the overall macro picture that we cannot do that in a way that will ultimately damage competitiveness and inflationary pressures in the near term. That is one of the challenges we face. There is certainly an infrastructure gap that has to be addressed, but in the very near term we have the issue of doing that in a way that does not necessarily stoke inflation in a negative way that will ultimately damage households and businesses as well.