Mr. Conor Faughnan:

Those are models that I am aware of. I would be misleading the Deputy if I said I had done deep-dive analysis of this. However, there is one general point I would make. I guess a point of view that one could reasonably debate is whether one is better off having private operators seeking to get profit out of it because, at least in theory, that gives one competitive dynamics and efficiencies that can be played back in and from which the consumer can benefit. That is one school of thought. Alternatively, one might suggest not to have that but to have a system, perhaps like that in New Zealand, or some way, shape or form whereby this is a function that the State performs. In theory, the State does not need a profit motive and, therefore, that is some money that can go back into the pool. AA Ireland would be perfectly agnostic about that but if a State entity was doing this tomorrow in place of the existing insurers, we would still have the same problem. We would be no better off. Such a State agency would either fall on the taxpayers to make up its shortfalls, go broke or charge customers the sort of premiums that we are talking about today in that the fundamental reasons for high premiums are not because there is profit but because of other broken dysfunctional elements in our system.