Mr. Conor O'Kelly:

The Chairman is right. The two specific financing vehicles that we think have some legs and could have some impact are the NARPS 2, as we are now describing it, and the second one is an infrastructure fund where we would put ISIF money plus additional co-investment capital in there and provide financing for this infrastructural deficit. Homes have already been identified by the Dublin housing supply task force in this area and in other parts of the country. The idea is that one would finance either the local authority itself by providing it with attractively financed options, both through the rate and the tenure, or that one might provide funding to developers themselves on a similar basis in order to build the infrastructure for the local authorities. Right now, local authorities cannot get the infrastructure built one way or the other and a solution is needed. We think we could play a role there and we have been in active discussions both with local authorities and developers in that regard.