Mr. Matthew McGann:

No, it is a scoping paper. It is not intended to be prescriptive, it is intended to inform the discussion. It follows on from last September, when we produced an initial paper which contained estimates of the size of the windfall. The natural question then is, what will you do with these windfalls? We were asked at this committee, I think it was before Christmas last year, if we were working on what could be done with those windfalls. The paper is a progression from that and is about trying to inform the debate. Several expenditure pressures are coming down the line, of which ageing costs are the most identifiable or quantifiable. We use them in the paper to provide a perspective on how the fund could be built up and used to offset some of those future additional costs. Ageing costs are the most quantifiable, which is why we used them. In the paper, we also stated that they were for illustrative purposes. That is why I also referenced climate costs - the cost of the climate and digital transitions. It is a natural assumption that we are purely focused on ageing but we used that for practical reasons.