Phil Hogan (Carlow-Kilkenny, Fine Gael) | Oireachtas source

I was ready to go to Government at the appropriate time, which I indicated was ten days after the end of September. I got a call to indicate that there were possibilities of further engagement that would be worth exploring. I have put all the pressure I can on the stakeholders to ensure that will be the case. As of today, I am satisfied that one side of the equation - namely, the financial sector - is now prepared to look at putting some money up front. The levy would take time to accrue, which would not be of much help to the consumers - those directly affected - who are my foremost concern. However, the financial sector is now prepared to put some thought into how it can put some more money into the system earlier.

The levy will require legislation. One cannot impose a levy without legislation, which takes time. That is why I have asked, and have put as much pressure as I possibly can, on all the stakeholders in the financial and construction sectors to come up with a voluntary solution. There is a responsibility on, and a window of opportunity for, the Construction Industry Federation and the Irish Concrete Federation in the next 24 hours to respond to the proposals that have been put forward by the financial sector today.