Mr. John McCarthy:

One of the most significant benefits from a delivery point of view arising from Rebuilding Ireland is that we have a very strongly-founded capital visibility all the way out to 2021. During the bad years, the five or six years that we had over the last while, we were pretty much operating on a year-to-year basis. For the early part of that, each year it was going down rather than going up. What we now have is a good sense of what our capital is going to be all the way out to 2021. That allows us to plan really proactively with local authorities and approved housing bodies and give them the certainty that the funding is actually there. When I responded to Deputy Coppinger earlier on, I referred to the fact that we had a budget last year of about €933 million for housing across the whole range of programmes. We fully utilised that. We even found a few million euro of savings in other areas that we brought into the housing space as well. There is a very significant increase this year. It is up to €1.3 billion. As I mentioned to Deputy Coppinger, we are already much farther ahead in terms of spending this year than we were even by August or September last year. That is the value of full forward visibility of the capital programme. That way, we can build up a significant programme that allows us to make progress much faster. That is how it is reflected in the pipeline of projects.