Mr. Padraig Cribben:

If there is that lack of clarity, there is probably scope for all the above to be creaming, so to speak, because nobody knows who is creaming. As Mr. O'Keeffe said, the only people who can do it is a regulatory authority, probably the Central Bank but in the absence of the Regulator doing it, there is a political imperative on the Department of Finance to take action.

The kind of case the Senator cited, which I may not be unfamiliar with in terms of the detail, will close businesses. While that is a relatively extreme case, it is not unique.

To go back to the point made by Senator Conway-Walsh about the tight margins, 52% or 53% of all pubs in the country have a turnover of less than €190,000. Taking a midway point of approximately €140,000 or €150,000, every increase of €1,000 or €2,000 in cost is a nail in the coffin. In terms of somebody whose insurance premium increases from €6,000 to €8,000, when other things are taken into account that extra €2,000 is a cause for extreme concern, particularly when businesses have such a low turnover. That is a turnover level and when that is brought back to gross profit and one starts looking at the cost base and other costs that have been increasing, a 25% increase on an €8,000 insurance bill will bring that up to €10,000. That €2,000 just may be the €2,000 that is not available.