Ms Maria Graham:

I thank the Chairman and I will come in on just a couple of points.

One of the Deputy's questions referred to many of the balancing factors and complexities that go into setting up a commercial body, and the balancing of that commercial mandate with the social objects of the State. The objects of any such commercial body are as set out in its statute and it has to comply with that. That is why it is very important that this committee has been looking at head 8, in particular.

We talked earlier about the balancing through contributing to the economic and social development of the State, the competitiveness in the economy of the State, as well as the financial return. The LDA sits within the policy of compact growth which is clearly a very important part of the national planning framework, NPF, an increasingly important part of the climate action plan, as well, and of sustainable communities. These are the components of policy that the LDA has to deliver on, not just in getting a financial return. This is the way in which Mr. Coleman has described issues in looking on a site by site basis, the nature of the sustainable mix, and how that will play out.

On accountability, I want to draw the distinction, because the governance of a commercial State body is critically important.

In terms of the funds that are going to local authorities through the Vote for the Department, the Accounting Officer is the Secretary General who appears before the Committee of Public Accounts. The arrangements we have set in place, and I accept that there was the discourse at the previous committee a week or two ago around those elements, are in compliance with the public spending code. In terms of the commercial State bodies, they also have to look at the public spending code. Accountability is through the board and that will feed through to the Committee of Public Accounts. I would not like there to be a concern about the stream of accountability, it is just coming in a different form. Therefore, there will be investment gates and so on that Mr. Coleman and his team will have to go through to the board. In addition, there is oversight at ministerial level in terms of large investments. That will be set out. The same would happen for any commercial semi-State companies, for example, the ESB, Gas Networks Ireland or Irish Water. When capital commitments are being entered into, there is advice from NewERA and ministerial consent is required from the shareholder Ministers. That is part of the governance framework. That element of the Committee of Public Accounts and the Land Development Agency is very important.

On the point around the additional dividend that Government has sought in terms of affordable housing, that is something that Government has decided across the public land that it holds. That is why it is not being reflected in LDA legislation. It applies to any public body disposing of land. It is within the housing policy area and it has not been something that we have reflected in housing legislation. The mandate of the LDA over time is clearly in terms of the totality of housing supply and looking at increasing the overall supply of housing, as part of the totality of measures the Government is taking to improve overall supply, affordable housing supply and social housing supply.