Mr. Brendan Kenny:

As it stands at the moment, some intervention is needed from the Government to bring the rents down to the appropriate level. All of the calculations assume €1,200 per month. We would like to bring that cost down to €700 or €900 and that is going to need some kind of intervention. That may be a need for some kind of subsidy and perhaps something similar to what works at the moment with the approved housing bodies. We are not sure but some intervention will definitely be needed given construction costs in Dublin. We are not otherwise going to be able to produce houses with rental costs in the €700 to €900 band.