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

I am only getting going with what I am going to say to Deputy Doherty.

I meet the people who are affected by the housing difficulties, which I know are there. I meet the people who are worried about their rents, what they can afford in the future and their future in our country. I can see the anger and worry as clearly as the Deputy can. What I am trying to do is bring forward policies that can make a difference to their lives. That is what the Government and I are doing. More homes are being built. We have plans that represent, as I said, investment of over €4 billion in their future and getting homes built.

What we have seen happen in our country since the aftermath of the housing crisis and housing crash and the collapse of the economy over a decade ago is the Governments that I have either supported or served in build more homes year after year. That trend will continue into next year.

In terms of the policies we have in place, of course we need to challenge ourselves regarding how we can do better. Of course, I am aware of the crisis regarding homelessness and the emergency that people face because they are worried they are not going to have a property or home in the future. Of course I understand that but the policies we have and are building upon are leading to more homes being built year by year.

The statement I was about to make, which led to the Deputy interrupting me, I will make again. I have never claimed that the housing difficulties we are in have been caused by the war in Ukraine or the pandemic. I have never made that point. All I have claimed, and I will make the case again this evening because it is the truth, is that making progress and responding to our huge housing difficulties have been made harder by the fact that we have had a pandemic and we have seen the price of raw materials go up in the construction sector at exactly the same time as interest rates are also going up. That is the only claim I am making. It is valid and the truth.

On REITs and IREFs, I am sure that the Deputy's party is talking to and engaging with the construction sector. I hear it is and I have heard Deputy Ó Broin is talking to it. On the transaction that Deputy Doherty referred to whereby IREFs give a commitment to buy a certain share of the apartments that are being built, the Deputy also knows that this is what leads to the apartments being built. A developer or company involved in a project will go ahead with a project because it already has an assurance that a certain portion of the apartments will be bought. This, in turn, is the factor behind the increasing number of apartments that are becoming available. I expect the Deputy knows that is the case but if not, he should because it is a relevant factor in this.

As I said, if the Deputy makes claims about my intention and motivation in my role as the Minister for Finance, I will make the same about his. The people he is promising more homes will be the first people let down by Sinn Féin if it has an opportunity to implement its policies. While those policies are initially attractive, and I can understand why there is a need to listen to the simple solutions Sinn Féin is putting forward, they will lead to more homes being built and, over time, higher rents.

The Deputy does not need to remind me to be humble because of the people I represent and the work I do engaging with them. I need to remind him that in the policies that we are bringing forward, we are aware that we need to do better but we are making the case that they are having a positive impact, with more homes being built. We know, however, that even more need to be delivered in the future.