Joan Burton (Dublin West, Labour)

Where is the business plan? Where are the projected cashflows of NAMA over its seven to ten year life span? A person wishing to purchase a house is required to bring to the bank manager details of his or her income and any other family income. The bank manager then works out what he or she may or may not be able to borrow. The Minister has come into this House and provided us with a series of summary figures - to which I will return later - which are grossly and grotesquely inadequate in terms of analysis and the respect he should have, if not the members of his party, for other Members of this House who have a mandate from their electorate to protect their interests.

On the business plan, the analysis provided states that NAMA will pay €54 billion for the loans valued at €77 billion. However, the Minister in his speech states that some of the loans have been evaluated as good loans and others as distress loans, which I do not understand even having spoken about this to some of the people working with Minister. The Minister also states in his speech that 40% of the loans are income bearing. Is that correct?

See this speech in context