I am alarmed about the Minister's continued relaxed approach to inflation. On the one hand, he makes a virtual wave of recognition to the obvious, namely, that we have seriously lost competitiveness due to several years in which our inflation rate has been on average more than double that of the EU and, on the other, he shows no sense of urgency or alarm at the need to get inflation under control. He says this may happen in 2005. With an attitude like that and a forecast level of 4.8% inflation for this year, I shudder to think where Ireland might stand in a competitive world in 2005. I will give him a pass, but only a low pass.