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

I agree that there will be a need to review where we are with the application of this levy but I do not believe that that time is now.

The liability period for the 7% rate will apply from January 2020. Now that I think about it, it will be kicking in from 1 January 2020 which is before next year's budget. I do not want to commit to a report in the Finance Bill because I do not believe it is the appropriate place to do it but I believe that, by that point, we will have six months' worth of information regarding the application of the higher rate and we should find a way in which we can share that with the committee.

Deputy Doherty and I differ on the effect that we believe this rate is going to have but I agree with him that there are significant issues being caused by the management of vacant sites in cities and the hoarding of land. This rate is going to have an effect on that.

I commit to giving information to the committee regarding how many properties are being levied at the higher rates before next year's budget along with any information we can get from local authorities regarding what effect that rate is having on the use of sites.