Mr. Stephen McDonagh:

Yes, briefly. To add to what Mr. Lemass said, as Deputy Ó Broin knows, it is income and expenditure that will impact fiscal space. I think he understands that. Again, the decision to reclassify was retrospective. With the Rebuilding Ireland plan and the national development plan, there is a clear pathway for capital expenditure, funding and delivery of social housing. I caution the Deputy that this is quite difficult to do. The simplest way of doing it is to remove the AHB data from the latest set of projections, the stability programme update, SPU, on which basis there is approximately €300 million of Government expenditure this year and again next year, declining to about €200 million in 2021. Using that concept, one actually frees up fiscal space, based on the current projections from the AHBs. Again, that is reflective of their portion of the 50,000 houses over that timeframe. The reason the numbers are relatively low is that there is a consolidation under way because there is funding from Departments and the local authorities. That was already captured in the expenditure numbers. That is offset, and what one then captures is what would have been statistically treated as current expenditure. What one gets is the actual capital investment by the AHBs, and again, as the Deputy knows, that is subject to the four-year smoothing.