John Lahart (Dublin South West, Fianna Fail) | Oireachtas source

The Minister is an old charmer but I have to say this is not just any opinion. This is the opinion of the Governor of the Central Bank. If there is one lesson I have learned coming out of the crash, and I think the nation has learnt it because it is the lesson we were asked to learn, it is to listen to advice that is being offered. It is not enough for the Minister to describe the Governor of the Central Bank as eminent and to say that he respects his opinion. He is the Governor of the Central Bank and he has said the help-to-buy scheme is driving up house prices. The Minister is conceding a little bit on that but I am not here to argue the point. As a layman and as a public representative who is concerned for people who have to buy homes, I want to know what steps does the Minister think he could take? Will the Minister take my word, when I say man to man, psychotherapist to Minister for Finance, that €560,000 for an end of terrace starter home, a fine home - it does not even have an "A" energy rating, it has a "B" rating, is back to the peak prices? I know Rathfarnham well. What could the Minister do perhaps on the supply side to help cool it down a little bit? I am concerned for the young constituents, as I am sure the Minister is for those in Limerick and other places, that the prices will stretch out of their reach. This is when interest rates are at rock bottom and I would have a real concern that when they borrow, and borrow large sums that are cheap to repay now and quite cost efficient, within a year or two, when the low interest rates have maxed out at rock bottom rates and start to rise, that will have a significant impact. As I represent my constituents I ask the Minister to please be conscious of the potential impact the help-to-buy scheme is having on the demand side. Could he commit to anything on the supply side that would incentivise builders rather than the profit side to get into the game?