According to Merrill Lynch, overall IT spending will grow by 2.5% in 2006, up marginally from 2% in 2005. 65% of respondents had “long wish lists” of IT project that have not yet been funded. IT staffing is also expected to grow by only 1.5% per year with 26% reporting no head count growth at all. In 2006, storage spending is predicted to hit 10.1% of enterprise IT budgets, which is the same level as 2005. The 2005 figure is up marginally from 9% in 2004.