Mr. Vasileios Madouros:

This goes back a little to a conversation we had earlier. When we think about, for example, our advice in terms of fiscal policy, it is very much in terms of the aggregate fiscal position, that is, not necessarily about either the composition of spending, whether capital or current, or the balance between taxes and spending. When we think about what the effect on the economy and the effect on inflation would be, we think about it as the aggregate fiscal position, not adding to stimulus and, therefore, fiscal policy and monetary policy not pulling in opposite directions. Of course, there are major infrastructure challenges in terms of the economy. We have said that within the Government's own fiscal net spending rule, prioritising capital investment would help address some of these infrastructure challenges.