Mr. Alan Dukes:

I considered that response very carefully. You use the word "perceived" which, I think, is an appropriate word in this case. I mean, I think there is a fact that is hugely overlooked in some of this discussion, and that is that for many, many years the construction sector in Ireland has persuaded all political parties, not just Fianna Fáil but Fine Gael and the Labour Party and, I think, others that ... on the basic proposition that they make that construction is good for the economy.

I've always thought that that is the wrong causation. A strong economy is good for construction and I think that an over-reliance on construction as a motor of growth has turned out, in our case and indeed in other economies, to be a very bad idea.

There is frequent comment to the effect that there are, kind of, cosy cartels between bankers and politicians and all the rest. My observation, both in politics and out of it, in dealing with bankers is that, by and large, they prefer to stay as far away from politicians as they can. I think until 2008, most of them thought they knew more about what was healthy for the country than the politicians did and I think they found out that they don't necessarily.

Again, in relation to developers it's frequently alleged that developers are more friendly to one particular party than another. Frankly, my experience has been that they're very, very flexible as to who they support. I think the whole political system probably pays too much attention to them than they actually deserve. So, I mean, that's where I think the mythology comes in.