Ms Tina Donaghy:

On cash flow and funding, we need to probably market to a greater level the works of Home Building Finance Ireland, HBFI, and its availability to provide cash. It can be a fantastic resource. Where other funding is not coming forward, HBFI has funding and the relevant mechanism, but is not that well known. I have spoken with our marketing people and said to get it into our next conference and do a bit of marketing. We engage with small builders and landowners and if they can engage directly with HBFI in a separate commercial transaction and agree on terms, while they have a guaranteed contract with us, it is a way of bringing product to market and getting funding, but we need to press that home. HBFI has increased exposure recently but it is still not enough and these are desperate times. We all know privately, individually, personally and commercially that lenders do not just lend money any more. They assess risk and they do not want to be in the business. If banks could get out of doing mortgages, they would not do them. That risk management around lending has been the case for a long time. We have a great relationship with the Housing Finance Agency regarding how it services into our sector and provides loans. HBFI should concentrate on social and affordable housing. There is work we could all do to improve that.