Michael Noonan (Limerick City, Fine Gael) | Oireachtas source

We arrived at it as follows. Taking the sentence I read to the Deputy, the current trend of first-time buyers buying new houses is approximately 150 per month. I regard that as dead weight on the scheme as they are buying them anyway. That does not have an impact on the scheme being designed to drive supply. In that case we are looking, effectively, at no or very few new houses being built in the category we are aiming at, which is starter homes. We look at planning permission and the capacity of the industry, along with what is likely to happen, and the Revenue Commissioners have come up with a figure. The backdating to 19 July will cost €10 million and going forward from the date of implementation in the budget, the cost will be €40 million for the remainder of the year. I would regard it as a great success if it goes beyond that. This is to drive supply so unless the take-up-----