Mr. Niall Cody:

Yes, but the normal interest rates applied. We do that engagement always. Businesses run into temporary difficulty and, when they do, our door is always open. Our interest is keeping viable businesses in place. The reality is businesses do not always remain viable. One of the key indicators of viability is ability to pay current taxes. If you run into difficulties and come to us with arrears, we try to agree an arrangements for those arrears, having regard to your assets, cash and business viability. Part of the arrears agreement is you pay your current liability as it falls due.

I remember years ago when I was in charge of the Dublin region and there was a business that was running into difficulties. It had, let us say, 25 employees. There was an assessment required for understatement of liability. The case worker was worried about whether it would put the company out of business. It came up to me and I decided we had to raise the assessment. The tax was due. Ultimately, its competitors who were doing it right would be put out of business if we did not pursue the debt. That is part of the process. It requires a level playing field. One of the good things about the warehouse is all the entities who entered arrangements to pay their liabilities in full cannot be in a worse position than those who did not engage. That is really important.