Mr. Brendan Burgess:

May I make an important point on loan to income ratio? The loan to income ratio is essential as I spent a long time examining the lending practices of Irish Nationwide Building Society. Irish Nationwide gave mortgages as long as the loan to value ratio was low and did not care about income as a property could always be repossessed. The loan to income ratio is essential and this is the first time I have heard a person argue this is not the case. I wish we had more time to discuss this.