Mr. Niall Conroy:

It is important to note that what is set out in the SPU is core spending, not net core spending. Nowhere in the SPU does it set out net core spending, so it is core spending, net of tax measures. That is one thing that we have been calling out for a while as being inappropriate. It should be set out in a clear way. As it happens, on balance, the tax measures being introduced, or the path the Government sees, do not do a great deal in terms of raising or reducing revenue, overall. Our estimate of core spending is quite similar in terms of net-of-tax measures.