Joan Burton (Dublin West, Labour) | Oireachtas source

I would like to make a supplementary remark. Before lunch I raised with the Minister, Deputy Donohoe, the fact that increases in land values are giving people involved in funds a perverse incentive to sit on lands while such increases continue. I am sure the Minister of State is aware of this problem, which is being discussed widely. Regardless of whether we are ultimately talking about fund valuations or something like a limited company - I appreciate that different structures are involved - there continues to be a perverse incentive to make gains and see valuations rise by sitting on lands. I have significant concerns about the current tendency of various entities to sit on land at a time of remarkable speculation in land prompted by substantial increases in property values. At a time of severe housing shortages - I refer not only to affordable and social housing but also to houses for purchase - this country cannot afford to have people hoarding and sitting on land for the purpose of accumulating valuation increases.