Mr. David Harney:

There are some differences but the regimes are quite close, so I expect similar type figures. This would come out in the review. I would be surprised if they were much different.

IORPs is not suggesting that this needs to be in place in Ireland because of deficiencies. The IORPs view is that it is trying to harmonise across the EU and certain countries are already better placed than others. IORPs is saying that for smaller arrangements it is up to each country to assess against what they currently have in place. This is what the cost-benefit analysis should do.