Mr. Seamus Coffey:

In recent times many of our concerns have been about current spending, particularly the planning and budgeting of current spending. Most of the significant overruns occur on current spending. It is the largest and if there are large overruns they have a significant impact on the budgetary position. When it comes to capital expenditure, one of the things we have been looking at in recent years is whether we have been able to increase it fast enough, given the capacity constraints in the economy, as well as our strong position and low unemployment. We do not have idle construction workers to get projects up and running. We have projects that are stuck in planning. We make a distinction between current and capital spending. Many of our warnings and concerns are on budgeting, planning and the overall approach when it comes to current spending rather than on the capital side.