Dara Calleary (Mayo, Fianna Fail)

As Senator Twomey said, this is a similar amendment to those proposed by his colleagues Deputies Bruton and O'Donnell. The Minister, Deputy Lenihan, indicated he would give further consideration to the matter. He intends to look at the feasibility and possible merits of more frequent reporting, for example, on a six-monthly basis. Further legislation on our present undertakings will be necessary; a Bill will be introduced shortly to deal with the European financial stabilisation mechanism. The wider financial stabilisation arrangements were reported by the ECOFIN council on 9 May. This will be an opportunity to consider the reporting provisions and, if appropriate, provide for more frequent reporting in the context of that legislation. We are exactly on course to reach our own budgetary targets in terms of revenue and expenditure, as was predicted in the budget.