Ms Jackie Maguire:

In the past, local authorities were always able to forward fund land because there was a particular loan scheme in place. That no longer exists. It is a big issue for the local authorities in the greater Dublin area, but it will become an issue for most local authorities. As a sector, we have raised the issue with the Department and it is trying to examine ways in which local authorities can be aided financially to buy that strategic land bank. At this point in time, particularly in County Meath, we have built on all the land assets that we currently have and we are trying to acquire further assets. We can carry the cost for a certain period depending on how the cash flows are, but we cannot do that in the long term. In the past, we would have bought seven to ten years in advance. There is a space there now for local authorities, and as a sector we have to get back to somehow being able to do that. That takes a bit of thinking about new initiatives. The Department is working on something, but it has not come forward with it as yet. It is a significant issue that needs to be addressed.