Nevertheless, the question of how we manage these commercial properties in the longer term demands serious review. Mr. President, private sector firms respond constantly to changes in the economic environment. They must do so in order to survive and prosper. There is no reason why public sector organizations should be exempt, however unsettling that may be for staff. Extracting itself may not be simple and it may take time, especially given the need to consult with and treat staff responsibly, but the issue must be addressed.
Responsible governance demands it.
And it is on the note of good corporate governance that I should like to close. The reforms which the HA has undertaken to date will result not simply in incremental improvements to efficiency. The combination of more detailed cost information, clearer objectives, greater transparency and improved accountability should result in a Housing Authority which is a model of public sector corporate governance. That is the target which we have set ourselves. I am confident that we will achieve it.