Eoin Ó Broin (Dublin Mid West, Sinn Fein) | Oireachtas source

I have a question on equity. It is very obscure but important. I do not share the gearing concerns about the approved housing bodies with respect to social housing because they have a guaranteed repayment. There is clearly a risk challenge with cost rental. I understand that. Why not increase the CREL to 55%? It is the same thing either way. What is the value of equity? Is it just to satisfy their gearing requirement or is there some other logic from the Department’s point of view? I know the officials said it would take a couple of months and be done by the end of the year. I do not want to accuse either of them of being like Simon Harris avoiding the election question but do we know when that will be settled? When will it be decided if it will be 20% equity and what the terms and conditions are? Will that be retrospectively applied to any of the cost-rental units for which the CREL is 55%?