Mr. Ciarán McCaffrey:

Of course, the value-for-money aspect is fundamental. Student accommodation would typically be a commercial-based activity. The Government intervention of late has been brought about because of the fact it is no longer seen as a self-financing activity. The figures I am giving the committee are just those the market is returning in terms of the development of student accommodation. We have been undertaking many efforts to try to make this affordable. We have commenced the standardised design process to try to really understand student needs and deliver those beds, benefiting from modern methods of construction. The fact of the matter, however, is-----