Ms Breda O'Keeffe:

On the potential land sale, the backdrop to any decision on the land sale is around capital investment. It is well known, and mentioned in the NewERA report, that during the period when we had to constrain our finances, we have had to curtail capital investment. The one area we have not curtailed is our digital terrestrial television, DTT, investment. We invested more than €60 million in DTT, and it was very important in releasing an important digital dividend for Ireland. Notwithstanding that, we have curtailed our capital investment and it is in that context that any potential disposal proceeds would be used.

As any member will know, it is important to reinvest. We have reinvested in capital at approximately half the level of our depreciation over the past five or six years, which is unsustainable. NewERA in particular commented on this and reaffirmed in the review that there was a key concern, given the importance of maintaining relevance in a competitive environment, particularly in the digital environment, that we would continue to invest in our assets. It is primarily to address this shortfall in capital funding that any potential disposal of underutilised lands in Donnybrook be used. There has been media coverage around it and we have secured planning permission around a crèche and an N11 entrance. While we are developing options, no final decisions have been made as we review the options.