Mr. Jeremy Masding:

When I appeared here before, there were 1,050 unidentified cases to which I think the Deputy is referring. We disclosed to the market that Project Glas includes approximately 10,700 properties, comprising 3,300 buy-to-lets and 7,400 private dwelling homes, PDHs. The disclosure stated that 7,400 PDHs consisted primarily of 2,500 non-co-operating and 3,850 cases where the treatments had been refused. The remainder of the PDHs, that is, the 1,050 to which the Deputy refers, can be broken down into three categories. First are those which were originally buy-to-let but where the connection has changed to primarily PDH and is non-performing. The second category concerns PDHs that are classified as not sustainable, which means the treatment is just not possible. Third, there are PDHs that are in long-term arrears and are identified as unlikely to pay. I have provided that clarification in response to media queries and, therefore, I am happy to do it in front of this committee.

The bottom line for me is twofold. I am trying as much as I can to get the best decision for all Irish taxpayers. The pyramids include those which are defined as non-performing loans, as per the regulatory guidelines.