Oireachtas Joint and Select Committees

Thursday, 10 October 2024

Public Accounts Committee

Financial Statements 2023: Land Development Agency

9:30 am

Photo of Brian StanleyBrian Stanley (Laois-Offaly, Sinn Fein) | Oireachtas source

I accept that prices are higher in the area these properties are in because of its location. People have this thing about addresses. I never got it myself but some people do. The point I am trying to make is that it is irrelevant. The LDA almost got land for free and contracted a builder. That is fine, and there is nothing wrong with that. The prices, however, are still sky high despite the subsidies and all the moving around of figures. The scheme simply moves one piece of debt to the State and the owner has to pay it in the end before he or she can sell the house. He or she also has to pay a mortgage of €334,000. That is the case according to the spreadsheet. I am reading directly from it. In the case of people earning less than €74,000, there are shortfalls listed. They are shortfalls ranging from €5,140 for those on a gross income of €74,000 to over €37,000 for those on a gross income of €66,000. Is that correct? That is what is stated on the spreadsheet in front of me. Those are the figures. Will the witness confirm that or am I reading it wrong?

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