Mr. John McCarthy:

Let us consider the sites with regard to the 2007 situation. It was late 2007 when the housing and land sector started to tail away. That year certainly saw the peak of activity. The reason we do not see those 2007 sites accepted into the scheme is because the associated loans would have only been taken out around that time and, therefore, they would not have matured in the seven-year period. The scheme was focused on loans that were maturing. Therefore, they would not have been eligible for acceptance into the scheme at that point.

Ultimately the objective in respect of all the lands, whether those accepted into the scheme or still in local authority ownership, is to explore fully their potential use for the purpose initially intended and to use them for the purposes of delivering on the social housing strategy.