Dr. Tom McDonnell:

It depends on whether they are traded goods externally, as part of exports, or whether it is the domestic market, it has a different effect. Ultimately, where we want to get to is a situation where we are minimising poverty, where everyone has adequacy, and where we have a competitive business environment. What we can say is that, while it is true that certain sectors will complain about coming under pressures from time to time, there is always a process of creative destruction and churn within the business community. That process of churn is not something that we should always be afraid of, because we get innovation and economic progress from this churn. Business creation partially comes from business destruction. We should not be terrified of business failures, and we should not be terrified of certain sectors shrinking sectorally over time, if other more higher-value-added sectors are growing. We need to put in place a policy set that allows us to be resilient and adaptable as an economy as a whole and be thinking, what does it look like in ten years' time, 20 years' time, 30 years' time, not tactically on a budgetary basis that we need to immediately save this sector over here or respond to something that has happened in the United States. It is about putting in place the often very-----