This brings us to the next dilemma facing us in addressing the problem. There are those who can pay, those who cannot pay and those who will not pay. We have a moral responsibility to differentiate and put in place a means of differentiating between those who cannot pay and those who simply will not pay. If we get this wrong, our legislation will lack the moral authority essential to success. It will have devastating consequences for the banking sector and business in general if those who will not pay are released from their responsibilities and, as a consequence, undermine the efforts of the many people who honour their lawful debts against a background of dissipating incomes and, in many cases, job losses. We would be rewarding the unjust and encouraging others to follow suit.

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