I acknowledge and welcome the statement by the Taoiseach that the activities of the investment fund in Maynooth are not in accordance with Government policy. Has he been made aware of the fact that Kildare County Council, which is the relevant local authority, and two approved housing bodies were outbid in the competition for the estate in question? Can he indicate the action he proposes to take, it is to be hoped by way of emergency legislation, to ensure that a race does not take place whereby large tracts of land and houses under development can be acquired by finance companies in this fashion?

I thank the Deputy for his comments. The fact that the Kildare County Council and two approved housing bodies were outbid is certainly very damaging or bad news as well. I have spoken to the Ministers for Finance, Public Expenditure and Reform and Housing, Local Government and Heritage. Collectively, we will examine this issue because it is unacceptable and runs counter to Government policy which is to give priority to first-time buyers. The framework around the utilisation of these funds is to add supply, not to displace supply.