John Paul Phelan (Carlow-Kilkenny, Fine Gael) | Oireachtas source

Firstly, I want to reference a document that Senator D'Arcy just spoke about earlier, Vol. 1, page 126, minutes of a board meeting, 22 July 2005. The heading at the top is, "Section 3: Key Business Drivers Behind the Plan" and, specifically, the fourth point there, which is as follows, "Tracker mortgages will account for an increasing proportion of business - rising from 5% today to 60% by 2008. [And] This will push mortgage margins down"; somewhat prophetic, maybe.