John Cummins (Fine Gael) | Oireachtas source

I thank the Minister, the Minister of State and the officials for taking that retrospective piece on board. I raised the issue at our meetings of this committee because it is important that the system is not clogged up with people who have already been approved for a grant trying to reapply for a higher grant. I welcome the clarification.

On cost rentals, for some time I have told anybody who would listen that the issue is that the cost of building, financing and maintaining a development over a 40 or 50-year period at best equals the cost of market rent and it does not equal market rent minus 25%. I have stated that the only way we will ever unlock the developments that have planning permission is via the provision of a subsidy or an equity. Therefore, I warmly welcome the positive decision that the Government has made as it will unlock developments for cost-rental purposes. Let us be very clear. The people who will rent properties do not care whether the units are delivered by the LDA, the approved housing bodies, councils, private developers, public private partnerships, or community or co-operative trusts. They do not care because they want rental homes or homes for ownership. The decisions that have been made to provide equity or subsidies in order to unlock those developments are extremely positive news.

I ask the Minister to confirm that the scheme has been opened up to go beyond AHBs, the LDA and councils. I know that he does not expect a great deal in terms of the private sector element but is the scheme being opened up beyond that? I ask because I raised this issue, if he recalls, at the very outset when we debated and passed the legislation.