Mr. Philip Maguire:

In the context of levies, we estimate that there are approximately 305,000 sq. m of commercial development space and 2,600 residential development units and these will yield approximately €45 million in development levies. If one takes it that Irish Water will finance the investment it needs to make and that the NTA will pay for things such as bridges and other items of infrastructure, then the actual spend required in respect of flood prevent measures, the public realm, parks, etc., is €55 million. This means there is a net deficit of €10 million between what is required to be spent and what will be yielded up from levies. Obviously, that money will be collected over a period. However, the intention is that much of the infrastructural spending required would be front-loaded. In other words, it would have to be done early in order to facilitate the roll-out of the agreement. Rather than the docklands subsidising the remainder of the city, it will - at least in the short term - be obliged to subsidise the docklands.