Minister of State at the Department of Finance (Deputy Brian Hayes): I thank the House for the co-operation I have received on this Bill which is essentially a technical Bill to introduce a new range of reforms with regard to the IMF. The Second Stage contributions were most informative and helpful. Now that the Bill has passed this House it will be signed by the President and the Government will now inform the IMF of the decision. This is significant because as a programme country we have a unique relationship with the IMF and it is important for it to know that this matter has been considered in both Houses of the Oireachtas and has been expedited in a professional way. Ireland is among one of the first group of countries to pass this important legislation. This sends a very positive message to the IMF about how this House and the other House does its business and how it regards its relationship with the IMF. These reforms will make a difference and there will be created a greater sense of participation for all countries in the IMF. It breaks up the old rules as regards the dominance of the larger countries and sets the IMF on a new path. When this measure is passed by 85% at the annual meeting later this year, it will allow a reduction of approximately 100 basis points in the interest rate being applied to this country and this will lead over a period of years to a not insignificant saving for this State on the total interest payable. We are currently paying 20% of all taxes towards the interest on all these loans so this measure will make a small but helpful difference in the ongoing sustainability of debt.