The need for a more restrictive approach to public expenditure in 2003, coupled with the inflexible nature of much of our public spending, underlines the real challenge in bringing about a reduction, in a balanced and fair way, in the scale of increases seen in recent years. This difficulty was referred to by the independent Estimates review committee – the three wise men – in its report on the 2003 Estimates. In light of this, the Department of Finance is committed to undertaking a medium-term review of spending over the coming months which will allow Government to review and assess its overall priorities over the next three to four year period.