Seán Canney (Galway East, Independent) | Oireachtas source

I read with interest in one of the Sunday newspapers about a company on the Stock Exchange raising money in London as a house builder in Ireland. It owns 20% of the land for development around Dublin. It is a problem when people buy land and hold it until the market comes right. We need to consider this in real terms because these kinds of companies will hoard land because they can afford to do so. They look at it as perhaps a five or ten-year programme by means of which to make a profit. At the same time, we cannot build anything. Deputy Durkan lives in the greater Dublin area and land is being bought to be held. There must be penalties so that people will use it or lose it. That is something on which the Department should contribute.