Mr. Ciarán Kissane:

We allocated a significant portion of the reserves. Of the €22 million to which Mr. O’Keeffe referred, we allocated €16 million of it already to projects so the sum of €22 million is not available. The reserve is probably about €5 million and that will reduce this year. Last year we allocated €19 million to projects even though our licence fee income was only approximately €14 million. We are working through our allocation because we had projects of sufficient quality to do that. In 2011 we did not have the number of quality projects available to which we could allocate funding but last year we did, so we allocated €5 million more than we got in income. We got a balance in terms of working that out based on the throughput of work for ourselves.

On the question about the level of bureaucracy, of course everyone would like things to run a lot smoother in terms of how they can access money but we are not an ATM. We work very hard to ensure we balance the compliance requirements with the requirement to allocate funding. One of our key initiatives in 2011 and in 2012, to which reference was made, was the introduction of an IT system to help us to streamline some of the administration of the scheme, which has helped us.