John Curran (Dublin Mid West, Fianna Fail) | Oireachtas source

I wish to clarify one or two points. The Minister mentioned the €3 billion borrowed by the French Government and how it might be off-balance sheet. That is news to many members of the committee. Would officials in the Department be in a position to investigate that matter further and, in correspondence, advise the committee on it?

When commenting earlier on the capital spend in 2016 the Minister said local authorities were unlikely to draw down all that was available. What is the predicted underspend? We are discussing the supply side and there is concern and frustration among committee members. We must try to front-load. It is a little disappointing to hear that the capital funding available in the current year will not be drawn down fully. That is adding to our problem somewhat. As we will have representatives of the local authorities before the committee again, it is important for us to have that information.

Central Bank rules on lending, mortgages and so forth are set, although I realise there will be reviews and so forth. However, does the Minister have a view on first-time buyers? He is always reluctant to interfere in the marketplace, but does he have a view on saving schemes for first-time buyers such as the old special savings incentive account, SSIA, specifically to save for a mortgage with State support? Does he consider that to be a useful market intervention for such persons or does it have other negative effects on the market?