Dara Murphy (Cork North Central, Fine Gael)
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I wish to come back to the issue of the rolling flexi-loan. How would it differ from an overdraft? We are all aware of the joke about credit card limits being limits not targets. I am a little bit concerned about borrowing for day-to-day purposes. What we are trying to do everywhere is to live day-to-day within our means and to borrow for the exceptional events. If people had a rolling continuous debt, would there be the same penalties for not having it in credit for one month of the year? What incentive would there be for people to arrive at a point where they get a loan for item A and clear it, which is the strength of the system as it currently stands? Will Mr. McConville flesh that out a little bit?