Dr. Brian Motherway:

The questions asked about finance are both very apposite. We meet all the financial institutions such as banks, credit unions and others, to encourage them to participate in helping people to upgrade their properties. A number of credit unions are very active. However, the point is well made that there is more potential for credit unions to lend. From a certain point of view, it is an education issue. We find that sometimes the financial institutions do not really know what retrofit is. We have a role in encouraging them to realise that it is financially beneficial to their members, that it will give a return for the money through lower energy bills. This is also part of the wider pay-as-you-save concept. The point is also well made about the potential for pension funds who look for big, straightforward investment opportunities for the funds. The trustees do not want to lend to individual households or buildings. An intermediary such as an existing financial institution or perhaps a specific green fund in which pension funds could invest, is required. This is being tried in other countries and we are considering it. That fund would then provide finance for the work.

I refer to specific questions about the operation of the grant scheme. I will ask my colleague, Tom Halpin, to comment.