Mr. Seamus McCarthy:

I believe it was in the 2015 annual report on the National Treasury Management Agency, NTMA, accounts that I drew attention to a court judgment that year that changed the discount rate that was used in calculating the awards exactly as the Deputy described. It was noted that it had a significant impact on the level of liabilities, but the level of liabilities has continued to increase since then. My understanding is that the discount rate has not changed further; rather, the increase has had to do with the number of claims and the seriousness with which the courts are determining there are compensations to be paid. There is a combination of factors, but the trend is upward. It is a very significant number. That is part of the reason I want to examine the matter again for my 2021 report.