Mr. Shane O'Sullivan:

We have given it a lot of thought over the past year. I go back to the point we made earlier, namely, we see a significant distinction between debt forgiveness and debt write-off. Debt forgiveness is the unilateral forgiveness of debt upfront. We do not think there is necessarily a balance of fairness in the proposition. Earlier a Senator spoke about two people living next door to each other, both of whom have the same jobs and income, and asked whether it is right that one party has debt forgiven while the other works tirelessly to repay the debt. We do not believe there is equality in this example. This is debt forgiveness, and we avoid it at all costs. However, debt write-off is a different proposition. Where people work with us as hard as they can in difficult circumstances we believe a different balance of fairness can be struck. If our borrowers are willing to sell their underlying property to repay the maximum amount of debt they and we can get from the sale of the property, we believe it is right to go a step further with them. We feel the balance we have struck, which is up to 80%, is right. With regard to other propositions, earlier we spoke about personal insolvency. We see this as having real validity in terms of resolving the debt issues our customers face. We would apply decision rules and criteria to this. We are not open to considering-----