Mr. Seamus McCarthy:

We have been pushing with all the universities to ensure that there is consolidation where consolidation is appropriate. My predecessor reported on that matter. It was discussed at this committee. The Department and the HEA have made the point that they regard foundations as being something that is very important and we do not disagree with that. What we are concerned about is that the accounting for it is consistent with standard accounting practice and that is what we push on an individual basis with colleges and in general with the HEA.