Éamon Ó Cuív (Galway West, Fianna Fail)

As is obvious from my reply, there is a risk element. For citizens with small savings, it is better to avoid risk. If people want to invest, they can invest in the post office, which is Government run, if they want to help the Government. People are more than welcome to do so. I do not see the great advantage in encouraging people who are not professionals to take risks with their money when they could make the same contribution to the Government through risk-free investments.

It is tragic that some people I know got bad advice in the past four or five years. I always advise my constituents to take no risks if they have few means. However, the people in question invested in bank shares and so on, but people of low means cannot afford such risks. They could have opted for a smaller return and been much safer. If the Senator wants to encourage people to take ownership, the best way to do so is by buying fixed return Government securities.