Ciarán Lynch (Cork South Central, Labour) | Oireachtas source

Okay, thank you very much. Basically this is a summary of the business sentiment survey that was issued ... or dealt with through the CIF with the Central Bank:

• In [the] Central Bank['s] Business Sentiment Survey from late 2006, the CIF indicated that they only expected housing input to be around 90,000, with only a small decline the following year.
• They advised that the market was coming more into equilibrium with output [as] stabilising and then declining gradually, with price inflation easing to moderate levels.
• They also pointed ... that An Bord Pleanala [have] declined thousands of planning permissions for particular reasons, which would likely reappear in the data subsequently and that this may be giving too negative an impression on the outlook for housing output.

So what is happening there is the CIF in its engagement, as part of the survey with the Central Bank business, the sentiment was that we're ... it's positive, there's going to be a bit of a slow down but more or less it will still be sustainable. Where was that analysis coming from, Mr. Kelleher, back in 2006?