John Perry (Sligo-North Leitrim, Fine Gael) | Oireachtas source

I compliment the element of reinvestment in hotels which will have a massive tourist potential for Ireland. I welcome also the clear vision with which they have been remanaged. I have spoken to a number of developers who got a second chance, which is very important. These are Irish people who have made mistakes but are getting a second chance. That up to 80,000 jobs are being created a certain amount of credit is due to NAMA with its visionary approach towards investment. I am glad to hear it has a vision for the remainder of residual debt within the NAMA portfolio that will ignite social enterprise and social housing, and that it will support developers as we are talking about building 25,000 to 30,000 houses per year. There is a real difficulty in igniting the economy to give developers the necessary funds and the working capital to develop those houses. Therefore, the agency has a critical role to play with its intermediary banks whose loans it is managing to ensure they are given the working capital to start the five, ten or 20 houses. I thank the delegates for that clarification.