Mr. David Fitzsimons:

With regard to bank lending, the fundamental is that we have good vibrant businesses to lend to, which are not basket cases. To do that, we need to reduce business costs. We need to realign our domestic economy costs to equate to current market demand, which is dissipated.

Rates have been mentioned. I am aware that it would be a challenge to reduce rates. They are currently increasing because of revaluation. Anyone in a primary location, such as a high street or shopping centre where all the retailers are, is facing increases in the revaluation process. It is fundamental that ratepayers receive a service. We have been arguing this for a long time and we launched the Town & City Management Framework, a way of managing towns. Many retailers are happy to pay the same rates but they want the same service one gets in a shopping centre. They want a secure and safe environment, fair and equitable car parking and a good vibrant retail mix that engages with customers.

In Dublin city, the ratepayers want to pay more. They are willing to participate in a bid to pay more rates if they are assured of the delivery of services that will, in turn, increase consumer demand because customers will want to come into a safe and engaging space.