Mr. John Hogan:

The piece on the national debt is really interesting over the past ten years. We would have had some quite expensive debt on the books, which the NTMA has, in a strategic way, managed to elongate and reduce the cost of by refinancing, particularly when interest rates were very low. Clearly, during the course of the Covid period, we had to address the costs associated with managing the economy through Covid and they were quite substantial. We had a number of those high-profile schemes, which the Chairman will remember, such as EWSS, the PUP, CRSS and so on, that were there very much to support the economy through the Covid period. We-----