Mr. Seamus Coffey:

The rainy day fund that we would envisage would be somewhat different from the rainy day fund that is currently set out in the Government's plans, which has a fixed €500 million contribution per annum that does not really change in response to either economic conditions or corporation tax receipts. It is just a fixed amount. In fact, in a previous iteration, the contributions were €1 billion per annum, but they are flat and unchanging and unlikely to have any significant impact on fiscal policy or the economy. We would look for something that is more dynamic and more in response to economic conditions than what we have seen heretofore.