Mr. Jim Meade:

Broadly, it is. However, it is not so much the survival of the fittest. What does "correctly planned" mean? For us, it is about having that pipeline correct. In the past, we did not have that pipeline correct and it was stop-start. Now, however, by setting up the capital investment team within Iarnród Éireann, we have a whole suite of projects. We have a constant iterative process with the NTA and the Department on costs. We know what has happened in the past couple of years and we are steadying those down again now. Mr. Hendrick's team would on an ongoing basis do programme costs for the NTA and Department of Transport to say this is what we know and this is the vista we have in front of us. There is a constant re-evaluation of cash flows and what needs to go next.

What the Government decides to fund is the Government's call. What we do is keep it well informed of where we are with the project and what the next steps are. There are certain gateways we have to go through as part of the public spending code. Therefore, we go through those gateways and there are no surprises. One thing we do quite well, if I say so myself, is that we do not give the Department or the Government surprises. We give them schedules and show them what is coming. We agree with them what the projects are and then we agree the funding streams.