Mr. A. J. Noonan:

I will deal with the funding issue first. I think there was €50 billion outstanding in loans to the SME sector. Of that amount, €33 billion has to do with construction and property related activity. A company buys a building or factory and is left with it. Our understanding is that the banks are looking at it on a case by case basis and that they are trying to put viable solutions in place to keep the trading businesses going and sustain employment where there is a feasible business. It is difficult to get them to define "feasible", but that is another day's work. Our understanding is that they are not sitting on their hands and hoping the problem will go away. There is proactive work taking place.

I concur with the Deputy's points on social welfare. We have a social welfare system that is not fit for purpose. Where we have ancillary benefits and others holding people to ransom who are on welfare, this has to be taken into account. However, we make our comments as part of the overall structure and they are not targeted in any way at people on social welfare.