Paschal Donohoe (Dublin Central, Fine Gael) | Oireachtas source

We can discuss this further when we debate the appropriate level of capital gains tax to be applied. I repeat the point I made regarding the number of measures I brought in on budget night to ensure they were immediately implemented. I take the Deputy's point that we should look at the share of what has been purchased.

In parallel to looking at that, it is also the case that by forward purchasing particular forms of development, these entities make it more likely for that development to be built. That is something we need to take into account in looking at this issue. The Deputy draws a comparison between a "normal company" and a REIT. At the same time, the REIT also has requirements on it that a normal company does not have. For example, a REIT is required to distribute out its income in the way a normal company is not. A REIT has a debt limit requirement in a way a normal company does not. I have introduced many changes in this Finance Bill that will affect REITs that a normal company will not be subject to either.