Cian O'Callaghan (Dublin Bay North, Social Democrats) | Oireachtas source

Deputy ÓBrion had his hand up first but I am happy speak first. This section and the discussion on these amendments are a key part of the Bill. Amendments Nos. 157, 160, 164, 166 and 169 in this grouping are in my name. They all seek to remove the references to market value and substitute the words "existing use value". If we are serious about delivering affordable, cost-rental and social homes on a good value for money basis, we need to use existing use value rather than full market value. The Minister of State said the full market value will be subject to the fact that Part 5 will be applied to these lands as it is applied to all residential lands and some of these homes will be affordable homes. The issue with that is given the cost of Part 5 delivery to the State, its bearing on land values is quite minimal. Given the way the Government is going about the delivery of affordable housing and the way it is defining affordable housing as being just a marginal discount on full market rates rather than being tied to people’s incomes, there is a real danger the market value for the Land Development Agency, even allowing for the fact that some of the homes will be affordable, will have a very minimal bearing on the full market value. If we want housing that is genuinely affordable and cost-rental housing people on incomes below the national average income, for example, people who do not quality for social housing, can afford, it is very important land is delivered at a very affordable cost. If our amendments are not accepted, land will not be delivered at an affordable cost. Furthermore, we will not achieve that aim with respect to one of the key benefits that could be provided by the Land Development Agency in terms of strategic land assembly and getting land available at an affordable cost to provide cost-rental and social housing that is affordable. These amendments are very important in ensuring the Land Development Agency is able to deliver land at a lower cost to achieve the delivery of affordable homes. I strongly advocate for these amendments. I would like the Minister of State to indicate why he believes the use of market value will deliver a better outcome for us in the middle of a housing crisis. What is the Government's justification for basing this on market value when we need to be able to deliver homes at a much more affordable cost?