Mr. John Coleman:

When we look at rent setting, the cost rental is based on the costs that will be produced. What the Senator is speaking about is the bands of people and the incomes that qualify. I understand regulations will be set in terms of a scheme of priorities, and local authorities will have significant leeway in influencing that. I understand a simplified approach will be taken to that. The target market will be assessed by regulation. I agree with the Senator, however, that where the money coming into a house is available to contribute towards paying a rent, it must be taken into account when setting those limits and so forth.

On the affordability part, the concept of cost rental is based on the sustainability aspect, that is, that it is not a one-time thing, but is sustainable and repeatable, while trying to keep a very close eye on the affordability aspect as well. One can go to Ikea and buy a couch for €300. That €300 is going to be slightly more affordable for some people and slightly less affordable for others, but it should still be fundamentally affordable and a good quality option for them. I guess that is where cost rental is trying to land.