Pearse Doherty (Donegal, Sinn Fein) | Oireachtas source

I thank Ms Rowland. Professor Lane made no reference in his presentation to an overheating in the economy or any risk of same. I am aware that none of the agencies, internally or externally, has said the economy is overheating but they have referenced a risk of this happening. When the Irish Fiscal Advisory Council appeared before the committee, it provided us with a report and a heat map, which I am sure the witnesses had sight of. Its analysis is that the largest risk to an overheating of the economy is commercial property. In terms of what happened in the past in terms with property and what led us into the crash, commercial property was at the heart of that crisis. Does Professor Lane share the view of the Irish Fiscal Advisory Council that it is commercial property that is overheating or at risk of overheating and, if so, has he proposed any measures to prevent that happening? Stamp duty was increased in the previous budget but the commercial property sector is still booming. I have raised my concerns in regard to the emergence of a bubble in this sector, which I accept is not being bank financed. We will never have an exact mirror image of the crash but this creates other risks.