Deputy Arthur Spring, member of the Committee on Finance, Public Expenditure and Reform, has urged NAMA to deliver on its intention to provide social housing.

He said: "We must remain vigilant as a government to make sure NAMA pursues their policy of providing social housing from its stock of unoccupied property. 133 properties have been provided so far for social housing, out of a total of 3,800 properties that were set aside.

"Large numbers of unoccupied properties dot the landscape, while at the same time there is a pressing need to provide accommodation for families on local authority housing lists. Although this mismatch is being slowly corrected, I share Minister for Housing, Jan O'Sullivan's frustration with the slow progress.

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"I was heartened to hear from its chairman, Frank Daly, that NAMA is pursuing cases where rental income from NAMA properties was being used inappropriately, paying off loans and debts other than those owed to the agency. 90 per cent of rental income has by now been mandated to NAMA; I want to see the other 10 per cent being followed up.

"Mr. Daly indicated to me that NAMA are cautiously optimistic that they would meet their targets. However, one third of NAMA's clients are not cooperating with the organisation, and I want to see NAMA pursue these individuals intensively in order to provide a return for the taxpayer, who has been left on the line for these debts."

(CD/GK)