Joe O'Toole (Independent)

It has to be done. However, I do not agree with the idea of giving responsibility for this system to the private fund managers who have created havoc in our financial services industry. The Opposition parties are completely right to say that is not the way to go forward. The most effective fund managers in this country over the last ten years have been the officials in the NTMA. That is where the money should go. The State fund that has been operated has been more successful than the funds operated by other groups. We need to go in that direction.