Mr. Alan Dukes:

There is no release of money into the real economy from that. If we follow the process suggested by Deputy Joe Higgins, a lower level of mortgage repayment would still be paid. As Mr. Aynsley has said, we have only just begun the intensive care system for homeowners. Useful as it is, the mortgage arrears resolution system cannot be the final answer to the mortgage problem. It is pretty clear that the final shape of the personal insolvency legislation will have an impact on action in this area. I do not know what the impact will be but it will emerge over a period of time. The kind of proposal made by Deputy Higgins would have an effect on the capital position of the bank and would have to be assessed on that basis. I understand why Deputy Joe Higgins is making the suggestion. One of our concerns, and one of the requirements, is not to erode further in the capital position of the bank. It is a conundrum.