Mr. Richie Boucher:

On the national development plan question, in many economies the shortage is equity. It is not necessarily debt capacity but the equity contribution. The Government has put a lot of effort into equity contributions. Bank of Ireland is not a natural equity provider. Very often, if the bank ends up with equity in a business it is because it made a lending mistake. To generate profit and help to stimulate the economy the bank provides more than €250 million of equity to a range of funds which are dedicated to provide equity primarily for start-up businesses, early stage businesses or businesses in the hightech sector which would not naturally suit a debt funding model but where equity can be of assistance to it. I do not have a firm view as to whether the Government should be involved in the banking business but I do not think taxpayers should be. I believe that the primary issue is very often equity rather than debt. Specialist funds can help with that equity.