Ms Annmarie O'Connor:

Our submission is limited on the basis that we fully respect that the heads deal with regulatory and governance matters and the Money Advice and Budgeting Service's primary concern is the clients with whom we deal.

The Chairman is correct on the point we made on head 3 on liquidity. We believe that there needs to be some capacity for forbearance for those members who may not be able to address their commitments within the confines of the timeframes. It is a matter for legislators to see how the two requirements - the prudential requirement but also taking account of the fact that certain members will need more forbearance from time to time in repaying their loans - could be brought together.