Mr. Barry O'Leary:

We would expect to lend something like €1.2 billion next year. The vast majority will be for social housing rather than affordable. We will lend for cost rental, as I said in our statement, but we basically approved €200 million. I expect that the open call which Mr. Jordan referred to will come out and we will approve loans during this year for delivery in future years. I would say that 90% or more of what we lend will be for social housing.

The Deputy asked about sites where construction has ground to a halt and cost increases.

That is an ongoing issue but probably more so because our business is lending to approved housing bodies more so now than to local authorities. I would not say that is happening all the time, but it is happening on a regular basis. For loans we have approved, in some cases for quite legitimate reasons the builder needs to get cost increases. They are coming. I am sorry for being boring and saying cash flow is cash flow. If the cash flows support it, we will lend more and we have been lending more during the past 12 months for those sorts of loans. In anticipation of the supplementary question, the increase would be approximately 10%. It is not for all the projects but that is the kind of area we are in at the moment.