John Cummins (Fine Gael)
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On funding, Mr. Coleman mentioned in response to Deputy O'Callaghan the affordable purchase, which was the premise of my first contribution. I would like to see the LDA doing more with it. It would be helpful to its bottom line and its recycling of finance. I listened carefully to what was said. Mr. Coleman said the rent would be a drip-feed. It is significant in terms of numbers, does he not think? If you take 1,000 units, the vast majority are cost rental. Even if they were only €1,100 per month on average, that is over €13 million of a rent roll on those units in a calendar year. That is a significant sum and, as the LDA builds up, it will increase. The rent roll is important but recycling is also important to how the LDA will finance. Will it always be going to the State to look for an extension of its capital expenditure? I appreciate markets are challenging at the moment. The cost of finance is impacting the whole sector in terms of viability and it is no different for the LDA. Do LDA representatives see themselves on the market more when interest rates are more favourable?