Brian Hayes (Dublin South West, Fine Gael) | Oireachtas source

The issue here is very simple. The 4% interest is simple interest, not compound interest. It is not 4% interest on accumulation but rather it is 4% on what has not been paid. That is fair, in my view. Senator Norris argues that 5% is a hell of a lot but, in my view, 95% is even more.