Mr. Declan Dunne:

I will make an initial comment and then invite my colleague, Mr. O'Gorman, to answer. Our ambition is to have the lowest rents we possibly can. This housing cannot be delivered without a subsidy, however. Therefore, having the cost rental equity loan provides a level of subsidy. Then there are other factors with regard to land cost and construction costs that feed into it.

Our initial responsibility is thinking about those who are in the current situation where they are paying €2,000 per month, which I know all members care about. We are looking to see how we can significantly reduce that amount. If I may, I will invite my colleague, Mr. O'Gorman, to make further comments.