Mr. Derek Moran:

One thing about preparing a statement is that we are asked to keep it short to accommodate the business of the committee. If the Deputy takes it in terms of a longer document which refers to risks and the balance of risk in the Irish economy, page 35 of the stability programme update published yesterday states that in terms of housing supply pressures the likelihood is high. It is identified within the overall as being one of the biggest domestic risks in economic terms. The opening statement is written-----