Mr. John Hannigan:

I wish to address the lack of funding for social and affordable housing. A key statement was made by the Deputy. The AHB sector has been working with private banks since 2008 or 2009 to develop the opportunity for greater levels of funding to add more to what was there previously. We continue to seek to do that. This classification changes how we have been doing things to date.

There is still a great appetite for those people in the private sector involved in the funding sector including, as the Deputy said, pensions, to be part of what we are trying to deliver. We still need to work together with local authorities but, more importantly, the Government and Departments to ensure that we do not lose the momentum which has been gained. The cross-departmental group is very important from that perspective.

Funders and private financiers are very nervous and conservative people. Anything they believe might threaten an opportunity will be something they will step back from. At this point in time we have heard things which would suggest that they are becoming more nervous about these issues. We want to try to ensure that the confidence we built with them over the past number of years is maintained. This working group, oversight from the committee and the work we have done as a sector will help to keep that confidence there.

There are great opportunities in Ireland to create the models which will provide social and affordable housing, with private finance being part of the equation. We need support from everybody at this point in time. The Deputy is correct. Having the strength of character to address the issues and move forward with them is critical.