Ms Claragh Mulhern:

The market value is as the Deputy described it, but we are trying to instil a sense of consistency and balance across the system. As part of this, the valuation experts – we will be providing guidance and are working very closely with the Valuation Office on that – are providing very useful input into how as much consistency as possible can be introduced across the board. We cannot prevent people from paying a certain price for land, but what we can do through the system is introduce a consistent approach to valuations under the measure. Ideally, the information will be published, subject to GDPR, and that will set a baseline. The planning authority can examine the valuations submitted by the landowners and take a view as to whether there is a distortion. It is a matter of a consistent approach. What is important is the provision of clarity on what the quantum of the obligation will be. It is very important that this be done up front and tied to the zoning decision.

Section 48 and section 49 contributions will continue to apply at the point of planning permission, as they do currently. Ultimately, the combination of the two is the uplift in value that results from the initial zoning decision through to the granting of planning permission. We have separated the two of them out.