The Minister replied to six questions together. Has he given consideration to Question No. 6 dealing with pay-related mortgages for first-time purchasers? What way is it to be financed?

The Deputy will find that laid out very clearly in a document published long before we published our programme for the election. We published this document last November. It stated clearly that we hoped to attract funds at present going by way of investment to other developments to the housing sector by establishing a housing agency.

It would have been helpful if the Minister gave the information to the House rather than having to drag it out of him. The document suggested that the money would be raised through bonds through a housing agency. Would the Minister not accept that the proposal would prove to be unattractive because there would be no return on the bonds for up to 25 years and that the estimate of the cost of this scheme is in the region of £100 million?

I would not. The cost cannot be assessed until we see how many applicants we have and how much funds are attracted to the agency.

The Minister is telling the House that his party put forward this proposal with no idea of the cost of operating it.

(Cavan-Monaghan): It was welcomed by the Deputy.

Obviously the Deputy has not read the document. There will be no cost to the Exchequer as far as setting up the agency is concerned. He should have read the document before he came in.