Mr. John Trethowan:

When my office was established by the late Minister for Finance, Deputy Brian Lenihan, I was instructed not to create an industry. The whole office was designed to be an answer to a crisis rather than an institution. I was told in no uncertain terms that the office was a temporary measure. As soon as we are not needed we will go away.

With regard to improved powers, some of them might be better granted to either the consumer affairs division or the prudential side of the Central Bank. I would be cautious about taking on too much power. I would prefer to keep my focus on SMEs that require credit but are potentially viable, so we can help them get through this crisis. That is what we were set up to do. It would be detrimental if we lost focus and expanded in too many areas.