Mr. Gabriel Makhlouf:

The one thing that is clear is there is not a simple answer. If there were it would have been done. It requires a range of things to be looked at. Certainly from my experience elsewhere in the world, and from research we have done, some of which has been published, the issues that impact on the housing market and its effectiveness include planning regulations, incentives on the use of land, in particular taxation of land, the capacity of the industry to mobilise, the availability of underlying infrastructure to facilitate development, the productivity of the construction industry and the ability of the financial system to respond appropriately. There is a range of issues, some of which depend on Government action and others absolutely depend on the private sector working well and having a competitive market that makes all of these things function properly. I cannot tell the Deputy one thing that needs to happen. I can tell him what I think are a number of things that should be looked at and thought carefully about.