Mr. Eoin Dorgan:

As stated by Deputy Coppinger, the ISIF was established by the previous Government under the National Treasury Management Agency (Amendment) Act. ISIF expenditure impacts the fiscal rules such that any spending by it in respect of on-balance sheet activity eats into what can be spent on other public services. In other words, it would impact on the expenditure benchmark rule.

In regard to housing construction policy, the preferred delivery mechanisms for housing is a matter for the Government and the Minister with responsibility for housing. We are here to try to identify better financing options and areas where delivery can be increased through better structuring of mechanisms. In regard to the off-balance sheet debate, it is possible to do more if we keep spending off-balance sheet.