Barry Cowen (Laois-Offaly, Fianna Fail) | Oireachtas source

I thank the three witnesses for their contributions. I welcome their agreement on the code of practice and the regulatory framework, allowing the private sector to play a wider role in the provision of housing. How far down that road are we? The housing area has stagnated in recent years in terms of the provision of housing to those who need it most, a list of people that is growing at great pace. It is the predominant issue that we meet in our constituencies. While I welcome the movement in that direction, at what pace is that movement occurring? When will the private sector play an active role in the funding of housing associations to meet needs?

I wish to ask all three witnesses about the direction being given by the Department. Once NAMA was put in place, we were promised a social dividend that would meet prevailing housing needs. What leadership has been given and from what source? As far as we can see, there has been no social dividend for the public at large. Has the Department sought to bring the funding agency, housing associations and local authorities together to address this issue with NAMA? I did not read the full context behind what a NAMA staff member stated at a committee meeting some weeks ago, namely, that NAMA was educating the Department and local authorities about its role and how a synergy could work to the benefit of the public.

There has been no social dividend worth talking about for those who I represent. It is high time that there was. NAMA has moved into a profit-making situation. This cannot be at the expense of those who are in need of housing when housing is in such demand.