Brian Lenihan Jnr (Dublin West, Fianna Fail)

I am sure the Deputy would not be surprised to hear that I suggested it to him as well. Explorations are constant and ongoing in my Department on the accountancy treatment of a wide variety of matters.

Deputy Coveney made a request in regard to the deficit figures themselves. That was the main focus of his questioning. The precise figures will be given in the four year plan for growth and budgets. The required deficit figure is closely related to the question of front-loading and the amount of front-loading, which will be given at the same time.

With regard to the yield levels at which we are prepared to borrow, I am guided by the advice of the NTMA in that matter. I am not prepared, at this stage, to assign a precise percentage beyond which we will not borrow. I emphasise that we were not shut out of the markets. We could have borrowed in October and November. We opted not to. I will take the advice of the NTMA in that matter.

Deputy Hayes also asked about the deficit figure required by markets themselves. That is a matter of very fine judgment. I will be guided by the advice of the NTMA in that matter also.

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