Mr. Frank Daly:

I will put the points on the construction industry and social housing together. On the 926 units we are discussing, NAMA does not hand them over to the local authorities or housing bodies unless they are in excellent condition. We remediate any defects or health and safety issues and finish them to a very high standard. We spent approximately €20 million on those houses alone and will spend a commensurate amount on all of the other ones we deliver.

I was in Cork recently. We handed over 24 houses to NABCO. I saw the houses before and after the work, and the quality and standard not just of the houses, but the manner in which we finished what was effectively a ghost estate, was very good. It was good to see a young couple with a young baby getting the keys to their house. It puts a human aspect on what was done with the €20 million or the 926 units.