Sean Barrett (Independent)
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After those four hours I thank our visitors for all their advice and so on.

In the Seanad we discussed the rejection rate by local authorities with the then Minister of State at the Department of the Environment, Community and Local Government, Deputy Jan O’Sullivan, who was responsible for that portfolio. It seemed incredible that, when there is a huge problem of homelessness and NAMA offered people property, the initial rejection rate was approximately 70%. It may have improved. It is bizarre that a country with a problem of homelessness would reject property that NAMA can offer.

Does Mr. McDonagh want to answer my questions in a bundle or take that one now?

In December 2012 we offered 2,000 units. Initially the rejection rate was very high and they were slow in making a decision. Much of this was caused by the structural change whereby the Government wanted to give money for leasing instead of for capital. That took a time to be resolved by the approved housing bodies and local authorities. We have now offered 5,500 units and 2,200 have been identified as being suitable for acceptance and they are currently considering a further 500 units. There are 2,500 out of 5,500. NAMA is more than happy to make these available. We do not make the decision about whether they accept them. The main issue rests with the local authorities. The Department of the Environment, Community and Local Government informs us that there is an issue about concentration in an effort to keep social housing at approximately 20% for the purposes of social cohesion. Some units might be in some locations where there is not a huge demand. Certain approved housing bodies have a demand for one-bedroom units. However, we do not have a significant number of one-bedroom units in the portfolio - typically we have two and three-bedroom units. There is a range of issues. Our job is to make them available and it is for others to decide whether to take up the offers.