Mr. Seamus McCarthy:

While I do not audit the Housing Finance Agency. Its lending is for more purposes than just for housing. It is local authority lending and matters such as the land aggregation scheme and the purchasing of sites or the taking into control of sites under land aggregation has allowed some reduction and repayment to the Housing Finance Agency. There was one transaction in 2017 where there was about €470 million. It was effectively a circular transfer of moneys out of the Exchequer which allowed a reduction in Housing Finance Agency indebtedness.