Pearse Doherty (Donegal, Sinn Fein) | Oireachtas source

That is fine. Ms McEvoy said it is a commercial decision. She also made the point that the Central Bank can reject these proposals and it has done so in the past. Therefore, the Central Bank deemed an APR of 187% appropriate in this case, and collection charges then further push up the cost of credit. This legislation is about restricting that level of APR and it is intended to be achieved through a multiplier of the cost of credit in the market. That is what my proposal would be on Committee Stage. Does Ms McEvoy believe it would be appropriate to restrict that type of cost of credit, or does she, as the director of consumer protection in the Central Bank, actually regard an APR of 187% as what we need in the market in that case?