Mr. Brendan McDonagh:

We have been always been careful to say that we will fund and facilitate up to 20,000 units because we believe we can do that. We will probably fund up to 14,000 directly. The other 6,000 are effectively attached to debtors who were in NAMA and who, due to increases in both house and land prices, are in a position to pay off all of their debts. They still have sites which they will build on because they have new lenders who must be paid back but we would have given them funding to bring their sites all the way through the planning process. The sites are shovel ready because NAMA gave them money and supported them. Fair dues to them for paying off their debts, which is the right thing to do but the units will still be delivered. It is in that context that we believe that the 20,000 units will be delivered by the end of 2020.