Mr. David Duffy:

Many of the issues raised in the questions are interlinked.

It is important, given the projections we have prepared and what we are seeing in terms of output, that we increase housing supply, meaning increase affordable housing supply. That in itself is interlinked, not with the cost of construction but the cost of delivery, as the Deputy says. The Housing Agency work shows that Irish construction costs are very similar to European construction costs, and that it is the additional costs on top of that that impact on affordability and viability. Our view is that, in reducing the cost of delivery, given that the costs of construction are broadly similar, we have to look at those additional costs and be prepared to tackle some of them. We should look at whether measures can be put in place in terms of the cost of funding and whether something can happen on the issue of levies. We should also look at the impact of VAT on the cost of delivery and whether it could be reduced, even for a time-limited period, to help the viability of homes and to allow affordable homes to come onto the market. We have also been supportive of the idea of a national infrastructure authority. Perhaps Mr. Phillips will speak on that at the end.

Ireland as an economy is facing increased competition. Brexit, to some extent, is highlighting that because Ireland is being looked at as a possible location for business and being compared with other EU locations. It is always considered a possible location for businesses, but that is particularly the case at the moment. The impact of rent and house prices on competitiveness is probably particularly in focus at the moment as people consider where they are going to locate their functions and jobs.

On contingency plans, much of the focus has been on the cost of materials and skills and the impact Brexit will have on those. The housing market issues are there independent of Brexit. There is a focus on the housing market issues, and that focus will have to remain regardless of whether Brexit happens.