John Cummins (Fine Gael) | Oireachtas source

I am sorry to intervene, but time is limited. The specific question here relates to on-balance-sheet and off-balance-sheet. If everything is being channelled through the approved housing bodies sector, which is doing fantastic work, we must be cognisant that this is on-balance-sheet. I know there is a desire eventually to attract long-term pension funds with a 40-year horizon that are looking at a low return over a period. That is what is happening across Europe. However, to do that, it must be off-balance-sheet. Everything that has been described so far is on-balance-sheet. My question was whether the witnesses agreed that there has to be flexibility in the legislation and the regulations to allow this to go beyond the approved housing bodies sector to get it off the State's balance sheet.