Mr. Martin Fraser:

As the Deputy suggested, I noted the points he raised.

Government policy is to try to create jobs in this industry and it wants the Clearing House Group as part of that. As he rightly stated I am a public servant so I must do my work with integrity. I have published the minutes in a bid to help. I do my best in that regard. I am very aware of the history of what has gone on which is the reason I am very strong on the point of independent regulation.

On the specific issue of property raised by the Deputy, this suggestion was made and got a brief mention in the minutes under any other business. I am not aware of any developments in that but the Departments of Finance and Public Expenditure and Reform considered it and I think there was something in the Finance Bill about REITs, however I must confess that I am not au fait with the detail.The Clearing House Group has not done anything to advance that since it was mentioned at that meeting.