Mr. Gary Tobin:

All we can do is give our advice based on our view of what is likely to happen. In our submission we say that a number of things are likely to happen. Ultimately, we are here today to try to tell truths to power, to tell the committee and the Deputy what we believe they need to hear and not what they want to hear. I am sure everybody would much prefer if we said that there will not be any impact on interest rates but our view is that this is potentially such significant legislation it could impact on the cost of funding for banks and, in turn, result in an increase in the cost of mortgage interest rates.