Mr. John Hannigan:

I can amplify the point a bit. The Deputy is absolutely correct. Like some of my colleagues, I have worked in the UK for a long period and its housing bodies have lost their way in terms of ethos and what they should be doing. Last year they produced 7% social housing from the total delivery, which is a very small portion. We will not get to that point in this country because there is a different view as to what we should be doing.

The EUROSTAT ruling relating to the rent link to the market is defined in two ways, with those elements being "price setter" and "price taker". The reality is that across Europe there is plenty of evidence that "price takers", which is what we are at this point, still qualify as off-balance sheet under NPISH. That is what we want reconsidered. It relevant that the addition was made but the reality is the evidence across the rest of Europe is that the majority of social housing provision, including affordable and social housing, is about price taking from the State's approval perspective. There is evidence to overturn that element but a very narrow view was taken in respect of how that was dealt with for Ireland, based on the other elements.

We have done a very significant amount of work and we are in a very strong position to be able to go back and start discussions again. The critical point is that we need the Department of Finance, which is the gateway to the Central Statistics Office, CSO. If it is not involved, our initial opportunity to speak with the CSO and have a serious conversation would be significantly diminished.