Professor Michael McMahon:

The report also states "or something else", and that something else could be debt reduction.

To reiterate what Mr. Coffey said earlier, the issue is fiscal space when something adverse happens. If the use of the prudence account were to build greater fiscal space then it would make it less likely that this trade-off between having to take counter-cyclical actions with the budget deficit or pro-cyclical actions to try to rebuild credibility one would change the likelihood of having to do that. It would be an alternative option to build in exactly that space to take action when it is needed.