Paul McAuliffe (Dublin North West, Fianna Fail) | Oireachtas source

In the city, there is very little left to be developed. There are some brownfield industrial sites. In Ballymun for example, there are at least ten sites the council would give for nothing to anyone who approached it and said they would build housing on them. We have expressions of interest out at the moment for the Ballymun shopping centre site which will have a housing element. It will be on the metro line and we are not receiving any expressions of interest for it. In other words, no one wants to build because there is no money in building and we are talking here about getting people to share the profits. In reality, we are land value sharing, but the State has to give the builder €100,000 or €150,000 per unit to deliver them. My problem is that I am stuck in the moment. I am not saying that land value sharing is not important. It is going forward. Outside Dublin there a key role for it so I am not opposed to the legislation. However, my constituency is in the city and the people on the housing waiting list are sitting in front of me now, not in ten years' time. The difficulty is that land value sharing does not do anything at the moment because we will not be able to tax anything because there is no profit at the end and there is no sale.