Mr. Brendan McDonagh:

As I told Deputy Catherine Murphy, we are on record with the then Minister for Finance as saying that, when we drew up the plan in 2015, we believed only 14,000 units were commercially viable and we would do our best to make the other 6,000 in the portfolio commercially viable. However, NAMA's is a live portfolio. We continued to sell land but also a number of our debtors, due to improving values, paid off their debts to NAMA and took the land banks with them. They then were no longer beholden to NAMA and, therefore, we no longer had those builders and their lands, as they had paid off their debts. We cannot produce something if we do not have people with us because they have paid off their debts and moved on.