Darragh O'Brien (Dublin Fingal, Fianna Fail) | Oireachtas source

With all due respect, it sounds like the Minister of State is beginning to wash his hands of this. Fundamentally, the SPV we are speaking about specifically relates to the credit union sector. PricewaterhouseCoopers, PwC, was taken on board by the social housing project to deliver this. It is that specific one that I am asking about and where it is at. I thought the Central Bank had approved this type of investment from 1 February - I stand corrected that it was from 1 March - but it was actually setting up the vehicle to allow them to do so and to invest in social housing.

Do I take it from the Minister of State's answer, because he mentioned the EUROSTAT decision, that the Government is moving away from this, or it is effectively saying this is not something that it now wants to see progress? The Irish League of Credit Unions is concerned. It stands ready to assist in resolving the supply issue, or being part of the resolution of the supply issue for our housing crisis, specifically on social housing. This is a real opportunity. I sense a major drift in this project. Could the Minister of State give me a timeframe for when the work will be completed? It was commissioned by his Department, after all. When will that SPV be established? When will funds be able to be put into the SPV for people to seek investment from it?

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