Ms Catherine Keenan:

With regard to affordable projects, the Enniskerry Road project will be completed at the end of 2021. We hope to have cost rental around that point. In Shanganagh we hope to be on site in 2021. That will take a number of years to complete. It is a large site so we are probably talking about 2024 at the earliest.

Reducing the cost rental will probably require a combination of things. We are speaking about a greenfield site and perhaps rapid build delivery, a serviced sites fund increase, lower borrowing rates and the length of time for the borrowing. In a sense, we are restricted in terms of our lands. We do not have that much serviced land. If we rely on local authorities serviced land to produce affordability there will be a restriction. With regard to affordable rental, if we go up as far as a gross annual income of €90,000, the net income of 35% of that income would be in the region of €1,800. That is a lot higher than the €1,200 for €1,300 we are speaking about. The amount of €75,000 is probably more in line. The Deputy is right that there is an imbalance between people who qualify for social housing and those who cannot afford it and then we have affordable housing. Cost rental could bridge that gap.