Barry Cowen (Offaly, Fianna Fail) | Oireachtas source

Some argue that it is because of this that we will not revisit the unfortunate fiscal bonds we have had in the past. Deputy Ó Broin mentioned EUROSTAT's ruling on these vehicles and their commerciality. One must differentiate between a return on investment over ten or 20 years. As the witness said, 20 years is an appropriate length of time for the leasing period through local authorities, approved housing bodies or colleges. It is also an appropriate length of time for a return on investment. That is something that should be stipulated and acknowledged by those in authority in making a decision to run with this model. It is the only show in town and the only way this can be addressed in the manner in which it must be. There is a need for extraordinary effort, funding and commitment and everybody needs to be singing from the same hymn sheet in order that we might address this matter. The rules relating to Government spending are such that we would not be able to invest as we would want and need to in a crisis or emergency. As a result, we must put in place a housing authority similar to NARPS as a vehicle to help with all the other pieces of the jigsaw so we can make this right. I ask the witnesses to insist in their deliberations with the Government that it is a means to an end.