Mr. Michael Curran:

I agree with my two colleagues. We have tried tax breaks for years in Ireland in regard to property, and if we have learned one thing at this stage, it is that they do not work. If we are looking at young people who want to be able to afford a home, then we have to allow them to be in a position to buy the home or refurbish the home. What Ms Houlihan floated earlier was a State-backed guarantee, but let us go further with that. There is a grant of up to €70,000 available to do up a house, and that is inclusive of VAT. Why not be a small bit imaginative here? Why do we not say that is exclusive of VAT if people get to a B1 rating, and thereby incentivise people to be sustainable? We cannot argue with that. When it comes to tax breaks, we would say a strong “No”.

We hear a lot about capital allowances and we have heard it today once again. As Ms Farrell said, many of our members are living hand to mouth. Increasing capital allowances for people is a nice idea but it is not going to solve the issues our members and young people in general are facing throughout Ireland.