Ms Sinead Ryan:

Insolvency levels increased by about one third last year compared with 2022 but that was on the back of insolvency rates having dramatically fallen during the pandemic because of the various supports that were available, as Ms Walsh mentioned. The rates from 2020 to 2022 were artificially low and they are now just re-normalising really. The insolvency rate for 2023 was still below the 2019 rate. There has not been an increase from what would probably be considered the norm.

On a sectoral basis, it is split, based on some of the information we have, but the pattern is not abnormal for Ireland. That is our understanding at this point.