Mr. Kevin Johnson:

It is such a sad reflection that we are not able to utilise peoples' savings in a productive manner. I do not want this to be seen as only an issue for the Central Bank. Legislative change can be made to allow credit unions collectively to lend for housing projects and that is completely within the remit of the Houses of the Oireachtas. We would ask for members' support to do that. There are ways in which credit unions can lend that money out or invest it in schemes that would have a very productive effect.