I wish to raise with the Tánaiste the North Quays development in Waterford city, which the Tánaiste is aware is an important project. It is an iconic project that will transform the centre of Waterford city for generations. As he knows, there was a partnership between Waterford City and County Council and Falcon Real Estate Development, which has hit a brick wall. My understanding is that the CEO of the council will be making an announcement today at the full plenary session of the council and it is not good news about the relationship. It looks like an alternative investor will need to come on board. Significant funding has been put on the table by the State through the urban regeneration development fund, which I welcome. If this relationship breaks down, I ask that breathing space be given by the Department and the Government to the local authority to allow it to find alternative investors, given the importance of this project. Could the Tánaiste give that reassurance today?

I was not aware of that. If it is the case that the investor is pulling out, that is very bad and disappointing news. I suppose we should wait to see what the announcement says. If it is as the Deputy says, that is very disappointing news for the region. He can be assured that the Government is still behind this project. This is really important to the future of Waterford city and the south east. The Government will allow time and space to either repair relations with the investor or find an alternative one. I cannot give the Deputy a limitless commitment but I can certainly give him the commitment that the Government is committed to this project and will allow time and space for alternative funding to be found or an alternative investor to be found, if that is what is required.