Barry Cowen (Offaly, Fianna Fail) | Oireachtas source

The Minister of State acknowledged he would give consideration to the thrust of what is being said in terms of how the funding will be made available and for what purpose. I will counter the argument that is always made by my colleague, Deputy Boyd Barrett. The criteria associated with affordability in Part V of the planning legislation were restrictive and the measure did not have the desired effect because developers were allowed to buy it out. That practice was subsequently disallowed and the lesson was learned. A formula can be devised to give an acceptable level of profitability to the builder while accommodating those who are in the affordability gap, namely, the cohort of people who do not qualify for social housing and cannot afford a mortgage from the banks. This funding can help to ensure that. For example, if it is made available to somebody developing a Land Development Agency site, which will be public land, it should be definitively predicated on the provision of social and affordable homes as well as private housing. Developers will see where they will go with private developments, depending on the amount of supply and the impact it will have, and that should level off prices. However, if we want to assist those who have not received any help, despite the schemes that were introduced in the past two years with the best of intentions, we have to quantify the numbers involved and set criteria to ensure they get an opportunity to buy at an affordable price and do not pay more than 30% of their income on housing.