Michael Noonan (Limerick City, Fine Gael) | Oireachtas source

I do not believe that AVCs will be accessed universally by people with debt problems or financial crises. Many of the funds performed well below expectations and people say: "I made a bad decision in putting these AVCs in." The Deputy should not be surprised to find people pull out AVCs to buy a new car. It will not be motivated simply by debt. Some of these under-performed and people asked themselves why they took them out when they are now stuck and their money is locked in. Some of those people will want to access their AVCs as well. I have nothing more to say about it. I have explained the policy position.