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

To be fair, Deputy McAuliffe might have a slightly different view as to what point I am making. My point is that who delivers homes matters. If public land is sold to a private developer or investment fund - I did not use the word "speculator"; the Minister used it, although he is right that land could also be sold to speculators - and a certain percentage is to be affordable or social, we know from what is happening now that the affordable housing will be at a higher price, in particular because the private sector has to borrow at a higher cost. That is a fact. I looked at one planning application recently where the financing costs were 14% of the total. That would not be the case with public delivery. Since the cost is higher, the affordable purchase price - or the rent if the property is cost rental - will be more expensive. As such, it matters who delivers these affordable homes. It also matters in the case of social housing. If public lands owned by a local authority are acquired by the LDA and sold on to a private developer, the local authority or the State could end up leasing the social homes built on them back at an expensive rate. The local authority building housing directly would be a much better use of resources, as the ESRI pointed out.

Regarding the proposal for 1,200 homes that was voted through in respect of lands in Donabate, I do not agree with the majority of those homes being sold at full market price when they are on public lands. It is a scandal. What the-----