Oireachtas Joint and Select Committees
Wednesday, 1 July 2015
Committee of Inquiry into the Banking Crisis
Nexus Phase
Mr. Donal McNally:
Yes, I have the reference there. I think the €1.8 billion was that ... a question was asked, if private housing output decreased by 10,000 and you built 10,000 local authority housing, what would be the cost? And the €1.8 billion refers to that, as far as I can see from the documentation. The actual cost in terms of the 10,000 decline, for each 10,000 decline it was €570 million. The 1,800 was made up by the increased capital expenditure on the local authority houses.
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