Dr. Tom McDonnell:

What it points to is the absolute need to ensure we have these funds in place, that we do not enter a period of austerity and that the capital budget is protected throughout that period. We want to get to a position where capital spending is set at a particular percentage of output each year and is not slashed as it was post 2008, from which we are still suffering. Being careful and prudent now, and not being overly expansionary in the budget, is the best way to do that.