John Cummins (Fine Gael) | Oireachtas source

The advantage the sector has in the context of a turnkey social development, let us say, is that one has the knowledge that the entire development is, in essence, fully sold at the end of the process and that gives the sector confidence to build its interest rates in terms of finance, which would probably reduce from 15% to 6%. The witnesses can correct me on the figures but I am offering a ballpark percentage in terms of borrowing costs. I have no issue in terms of the design standards, although others may have an issue in that regard. I know the witnesses are saying the industry is willing to engage but, in the context of these developments, and notwithstanding the design, the door is open for the State to come in and say it will finance this lock, stock and barrel, rather than an institution doing so, and take it for cost rental.