Eoin Ó Broin (Dublin Mid West, Sinn Fein)

Just to be clear, it is obviously a cost to the LDA, as is its commercial return, but it is not a cost in terms of how the construction sector or the housing committee understands that viability challenge. When the LDA is either going to build or acquire something through Project Tosaigh - and we have spent so much time talking about the viability gap - there is no corporation tax or commercial return costing at that point. The cost is to the LDA after the fact.

I know the Minister will get on to discussing, for example, the VAT reduction, but I am struggling to understand the way in which he is attempting to deal with the viability challenge by reducing the all-in costs of development. The Minister's argument, which I disagree with, is that if we reduce VAT, for example, it will reduce the cost. This is not part of those costings. The LDA will have given the Department information that it may not have shared with us, but it would be helpful if the Minister could enlighten us as to how that reduction, which works out, on average, at €2,520 per unit per year, makes the unit more viable. I am interested in understanding that.