Pearse Doherty (Donegal, Sinn Fein)

I move amendment No. 17:

In page 43, between lines 34 and 35, to insert the following:

“Report on policy objectives and financial safeguards for Living Cities Initiative

30. The Minister shall, within 1 month of the passing of this Act, prepare and lay before Dáil Éireann a report on policy objectives and the financial safeguards that are in place given the scale of the reform and expansion of the scheme in geographical scope, eligibility and granting access to developers to the scheme.”.

Much of this has already been discussed in relation to my concern about the anti-avoidance tax measures that are now gone from the scheme in terms of developments. I have discussed some of the issues with the Minister and, in fairness, he has said he will look into them.

I think this scheme came in in 2012. It came in very early on. I think it was John Moran's brainchild at the time. It was restricted to Georgian buildings back in the day when the then Minister, Michael Noonan, introduced it. However, it is obviously not working. There is not a huge expenditure on it but this is a big expansion in terms of the relevant properties and it does allow developers into it even though there are limitations. What are the policy objectives and financial safeguards that are in place in relation to the reform and expansion of the scheme, particularly with the reference in terms of developers? That is what the amendment I have put down refers to because we have seen property-related schemes which do take off and then they become turbocharged and they cost a fortune and we find out then that the objectives are not being fully met.