Ms Mary Rose Burke:

The net adjustment we are suggesting that needs to be made is €200 million, which will bring us to a 2.7% deficit.

On the funding side, we have identified that there is €500 million in pre-announced water charges and that there is a need for €385 million in further current expenditure reductions but, overall, our thrust is moving from taxes on labour to taxes on property and user charges, such as water charges. However, there further expenditure cuts of €385 million will need to be found.