Brian Cowen (Laois-Offaly, Fianna Fail)

I am not saying anything under my breath. I have said that the primary responsibility for these matters rests with the individual boards. The question of the sustainability of a pension scheme and the issues that arise in this regard will vary from board to board and body to body. The defined benefit scheme has generally been the norm in the non-commercial sector.

Difficulties may arise in regard to the adequacy of pension provisions into the future and, in such circumstances, there is often the necessity that a contribution be made by the company and its employees. In the case of the initial public offering, IPO, for Aer Lingus, there must be a preparedness on our part to contribute to resolving a particular structural problem that has emerged. In regard to specific commercial bodies in general, which have a commercialisation agenda and have been given the autonomy to run their businesses commercially, if issues arise that must be addressed in the pensions area, as in any other area of their activity, they must work out a solution to that problem themselves.

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