Seán Barrett (Dún Laoghaire, Fine Gael) | Oireachtas source

I will begin by congratulating the Minister. When one reads the figures, one can see what has been achieved over the past six years. One can see there has been an incredible turnaround. Very often we have got into the habit of being negative about things that have not been done as distinct from the things that have been done. I do not mean this in a plámásing way but it is an absolute miracle to be where we are today and everybody should be congratulated - the officials, the Ministers and the public who put up with the hard times. When I wake up in the morning I open my newspaper and, by and large, I expect to read bad news because people are afraid to say that there is good news. There are 2 million people at work now. Young people can go into third level education and are fit to travel the world and get jobs. We have a tremendous amount to be pleased with. Like the Minister, I have been around this House a long time. Since 1981 we have gone through various periods and it is time that we considered the positive side.

Having said all of that, the one thing that concerns me is we still have a total imbalance in terms of house prices. Young people are being driven to insanity if they can manage to get a loan to buy a house these days. Deputy Boyd Barrett and I live in an area where house prices are crazy because three-bedroom houses fetch between €450,000 and €500,000. No young couple can get a loan to match that amount or afford the loan repayments. This is a small island and we must consider houses prices in the overall picture. If I am stupid enough to get into my car and drive in here at 8.30 a.m., the journey will take me between three quarters of an hour and one hour. If we had proper public transport and infrastructure I could travel to Drogheda or Dundalk in the same period. I use the DART a fair bit and in Pearse Station at 5 p.m., platform 1, which is opposite to the platform I use, is jammed with people. They actually are pushing one other to get to the front of the queue. The trains leaving that platform go to Maynooth, Drogheda, Dundalk etc. and the people travelling are all youngish. Commuting makes sense to people. If one can travel from A to B in a certain amount of time and have a decent quality of life, is it not better than having a huge mortgage wrapped around one's neck for 25 or 30 years? These are the sorts of human things that must be considered. I suggest it is time, with low interest rates and the borrowing that could happen, for infrastructure to be provided that allows people to travel from A to B in the shortest period. I believe the public will react. Why would one take on a mortgage for a three-bedroom semi-detached house or a terraced house for €450,000 if one could get a house for €250,000 if one was prepared to travel for three quarters of an hour to an hour on public transport? Availing of the latter would make a hell of a difference in one's quality of life. This island is so small now because one can travel on the motorway from Dublin and reach Galway in two hours. We need to match that option with public transport.

While the figures that have been outlined are grand, it makes sense to me - as anyone who has spent time in the business sector will know - that when interest rates are low, it is time to invest in things that are productive, create wealth and reduce burdens both on the State and individuals. I suggest we consider various areas in towns and regions located within an hour of Dublin and draft an overall plan for infrastructure? We may have to borrow money to fund the infrastructure needed to get people out of the rat race. I am sure that lots of people who live in Dún Laoghaire find commuting to work is a rat race. It is an absolute rat race for young couples to have a huge mortgage wrapped around their necks for 25 or 35 years. The committee should draw up a plan with the Minister or whoever is in government that recommends ways to improve quality of life and provide the appropriate infrastructure. We must encourage people to move away from overcrowded areas. I am sure Deputy Boyd Barrett will confirm what I have said. It does not make sense to pay €400,000 for a two-bedroom apartment and to then spend an hour sitting in a traffic jam to reach the town centre. The committee must consider ways to shift people into areas where they can get a decent home for a decent price. We have done a fair deal in terms of infrastructure and roads but in terms of public transport and other means of getting from A to B, the committee should undertake a project that will show where people can get a decent place to live if they are prepared to spend between 30 minutes to an hour travelling. People are already commuting great distances.