Eoin Ó Broin (Dublin Mid West, Sinn Fein) | Oireachtas source

Mr. Carville provided probably the most positive read of where we are at that I have heard in a long time. That is good news and gives me much more hope that we may see progress on this issue. While I acknowledge that the Central Bank is independent and makes the decisions in this matter, the statement from the Department is very positive.

My question follows on from Deputy Casey's. There is a CSO-EUROSTAT review of the status of the approved housing body sector here and whether it should be considered on or off-balance sheet. That is set against the backdrop of the designating of the approved housing bodies in Britain as on-balance sheet. My question is if there were a decision by the CSO or EUROSTAT to reclassify approved housing bodies as on-balance sheet, one consequence is that it would have an impact on the Government debt so any existing and future borrowing would go on the Government debt. My question is on the expenditure benchmark. Would it also have an impact on the expenditure benchmark in terms of it being a borrowing that is then spent by a body that would be deemed, essentially, an arm of the State? Have any discussions taken place at the Department of Finance or the Department of Public Expenditure and Reform on the possible consequences of it because it would obviously be a very big issue?