Ms Tina Donaghy:

Absolutely. When we carry out a viability exercise, and why I am saying zero VAT on new build as well will help with that, we are looking at our costs from day one for the duration of the loan period, however long that needs to go on, and any housing body. We are talking about Dublin and it is a very good financial system. I have worked in Northern Ireland in housing and in London and the surroundings in the UK. This is the best financial model one can have. One would be looking for the lifecycle cost and looking at the lifetime of the building, so we would be looking at 60 years minimum. This model works on a 30-year maximum.

However, as Deputy Ó Broin rightly said, this services our loan. It also turns the light on for us everyday. We look at our cyclical maintenance, our day-to-day maintenance and our long-term major repairs responsibilities and a sinking fund. All of those costs factor in. There are all sorts of various exercises that we do within organisations because we know what our costs are and whether we tender our maintenance processes or whether we have to go out and do it and-----