The Deputy is correct that the cost base is a significant issue in terms of our competitiveness going forward. The strategy group identified that, as has the Competitiveness Council which will be publishing its report next week. The report refers to wages and energy costs, particularly those relating to electricity, and states that Ireland is a very expensive location for food and drink. The latter probably reflects that we have a very developed economy.
There is clearly an issue as regards young people, particularly those living in this city and other major centres of population, being in a position to purchase housing. The level of house construction in the past decade has been phenomenal. In the past five to seven years it has outstripped anything that happened in the past in terms of the number of houses built here. We will again reach record levels this year. There is major demographic pressure on the system at present in terms of the numbers coming forward to purchase houses. Housing policy is designed to try to reduce prices and the rate of increase attached thereto. That is the clear objective of Government policy on the housing front. The Minister for the Environment and Local Government has particular responsibility in this area and is pursuing a range of initiatives that is designed to increase supply. The latter will then reduce the rate of overall increase.