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

For those people who have been affected by the huge difficulties we have with the supply of housing, and with its affordability for the rent that they are paying, I would point to all the other measures in the budget that will make a difference. I would point to the fact that during my time as Minister for Finance, our investment in housing has multiplied and is up to €4 billion for this year. I would point to the fact that we have other significant measures in this Finance Bill and last year's Bill on the use and taxation of land. These are really attempts and efforts to change the taxation regime with regard to the use of property.

I think it is very acceptable to say that we have a revenue target for a tax that we are now implementing. It is equally acceptable to say that we will spend a bit of time developing, with the Department of Housing, Local Government and Heritage, what the targets are in relation to vacancy.

As the Minister for Finance, I am responsible for tax yield. I have been clear from day one what we expect this measure to raise. I do not want a tax that Revenue is implementing and that I am responsible for to encounter the difficulties the derelict site levy has encountered. That is why we have designed this measure carefully and it will work. The Deputy and I have a differing view on the matter. As I said, what we will do in the time ahead, in the teeth of the difficulty that we are in, is review the impact the measure has and if further change is needed, I am sure it will be made.