Martin Mansergh (Tipperary South, Fianna Fail)

I thank all 16 Senators - more than one in four of the Members of this House - who contributed to what has been a very constructive debate overall. A very large number of points were raised and I will do my best in the time available to answer them.

To pick up the general point made by Senator Bradford, he said correctly that this is not about saving the banks or developers but about saving the country and the economy. We cannot do that without a functioning banking system. I will certainly pass on to the Minister for Finance the Senator's suggestion as to whether, when the legislation has completed its passage through the House, any broader information exercise to the general public should be considered.

With regard to Senator Twomey's remarks, nobody is suggesting or implying that prices will recover to their peak any time in the foreseeable future. Some €88 billion was the value of the assets, including the equity put in by the borrower, and €68 billion was the value of the loans, excluding equity, which works out at 77% of the loan to value rate.

I have reservations about the notion that the tax authorities could make their files available to some other State agency in a way that would break the confidentiality of the tax system. I wonder if that suggestion was reflected upon and whether it would ever be the considered policy of Senator Twomey's party.