Joan Collins (Dublin South Central, United Left) | Oireachtas source

When the crash happened, those who benefitted were those who sold properly when prices were at their height. Others lost out. Therefore, there was a cash transfer of wealth into certain hands in that period. The money did not go away. It was still there. That is what I cannot understand. That money is still in the system.

Another question I am keen to ask relates to property tax. Do the witnesses believe that it extends - I am trying to remember the term used at the time - because our tax system was not bringing in the cash-----