Mr. Hubert Fitzpatrick:

Urban regeneration would need to be strictly defined with a red line around a particular area to be incentivised, depending on what is needed for that area, so that there is no over-supply. On the question on Part V, the industry is not walking away from social housing. The industry is suggesting that local authorities retain a right to acquire up to 10% of the units in all those developments to ensure social development in those areas.

Another question was on the restructuring of the local property tax and the section 48 levies. An extensive list of infrastructure was prepared by all the local authorities to be funded by section 48 development levies. With the changed economic climate, one needs to look again at that list and determine what is essential and what is desirable. Let us focus on the essential infrastructure to be provided under section 48 provisions, rather than fund an extensive list which is clearly not affordable in the current climate.