Mr. Andrew Blair:

Senator Horkan made a very pertinent point earlier concerning SMEs that acquired real estate from which they operated and for which they overpaid and other types of businesses that acquired real estate. When we break down the book by industry code, it is really difficult to see, without examining each individual case, if the problems that existed for them were due to the underlying viability of the business or the fact that they bought property in a rapidly rising market and subsequently suffered from a downturn both in their business and in the property market, which caused them to get into serious difficulties. We can provide some breakdown and I would be happy to do that. I would caution, however, that when one looks behind those statistics one will find businesses that are allegedly a retail business which, for example, because it geared itself to buy its property ended up in serious difficulty.