Louise O'Reilly (Dublin Fingal, Sinn Fein) | Oireachtas source

I will speak to amendments Nos. 22, 30, 34 and 35, if that is okay. I do not know if they are all grouped but there is no sense in repeating myself when the next group comes up. This Bill is very technical, but it is also fairly political in nature in the context of the ever-changing geopolitical situation, which the Minister of State just outlined, and the need to ensure the safety and security of the State and its citizens. Unlike many other EU member states, Ireland does not have a regime for screening FDI in key infrastructure. This Bill will change this and will give significant powers to the Minister for Enterprise, Trade and Employment. The Bill establishes a screening procedure whereby the Minister and an advisory panel can assess, investigate, authorise, condition or prohibit third-country investments in key Irish industries and sectors. Unfortunately, neither this Bill nor the EU regulations establishing the framework for the screening of FDI investments has seen fit to include housing or land for housing as areas worthy of protection. There is neither a hearth nor a table in this State at which people are not discussing the issues relating to housing. I find this strange, particularly considering the role some institutional investors have played in distorting and damaging our housing market. I have included these amendments and a number of similar ones to ensure housing is protected. I have also sought to guarantee the public good is factored into consideration. We have had this discussion already about screening an investment. While establishing a mechanism to screen foreign direct investments to protect security or public order from hostile actors is extremely important, it is equally important to protect the public good and our infrastructure, such as housing infrastructure. This amendment is even more important considering that a section of the Bill that might possibly have covered land, real estate and housing is being deleted by the Minister. I would welcome the Minister of State's thoughts on this.