Cian O'Callaghan (Dublin Bay North, Social Democrats)

I thank the Minister for his response. I have a few points. On the issue of productivity, we have a very serious productivity issue in this country in the construction sector. It is bordering on market failure in terms of very high profit levels for developers but extremely low private sector investment in technology, modern methods of construction and capital machinery that is used in construction. We are way out of kilter with other countries, both in terms of our productivity levels in construction but also our private sector levels of investment that would actually boost productivity in construction. It is not happening. The Minister referenced various initiatives the State is taking in relation to productivity, and that is absolutely correct. The private sector, however, is not doing what it should be doing to address and invest in productivity. It is taking the profits and its benefits from the different subsidies and tax expenditures the Government has put in over the past number of years without investing in productivity. That needs to be addressed. It is not the entire solution of the housing crisis by any means, but it is a part of it and it must be addressed.

In respect of these various proposals, has analysis been carried out on how they will impact the price of development land?