Damien English (Meath West, Fine Gael) | Oireachtas source

I wish to be clear about Senator Murnane O'Connor's fear that there is an absence of common sense. It was one of the first schemes I asked about when I came to the Department. To me, it is totally a matter of common sense. People in some cases own these properties and do not have the cash to spend. In consequence, they do not come back into the system. Others own properties and have the necessary cash but have no wish to spend it. That is their choice. The scheme was brought forward to aid people who have qualifying properties and would like to see them utilised but cannot borrow the money or have no means to pay it back. A sum of €40,000 per unit is a lot of money given that in most cases units only need €25,000 or €22,000. It is a lot of money. We researched the amount. We believe that in the majority of cases it is attractive and would work. People can add to that from their own resources if they wish. Along with the €40,000 to spend on the property, the councils lease the properties from the owners for five, ten, 20 years or more.