Paschal Donohoe (Dublin Central, Fine Gael)

It is kind of an intellectual leap to say the subsidies we are making available are having an adverse effect with regard to productivity in the private sector. I really do not follow that argument, particularly given that the subsidies we are making available and those that are spending related are tied into the commencement of homes. You cannot get secure tenancy affordable rental, STAR, unless there is cost-rental accommodation. You cannot avail of the help to buy scheme unless there is a home in front of you that you are purchasing. You do not get funding from an affordable housing scheme unless an affordable home is delivered. You do not access croí cónaithe unless an apartment is built. We can have a debate about the efficiency of these schemes, and that is an important debate to have, but I am just pushing back against the idea that these schemes are being made available and are going into the black hole of increased profitability for a small number of developers. These schemes are being made available and they are delivering more homes. In the absence of these schemes being available, fewer homes would be built today than would otherwise be built. Each scheme I have referred to is subject to its own individual review. That individual review is frequently published. It is frequently used in the different discussions we have here in the Oireachtas, including in this committee. Yes, the price of land continues to go up, but I would argue to the Deputy that the reason we see the price of land, including the price of development land, going up is that there are two different factors at play. First, the supply of land that has planning permission being used to actually build more homes is not as high as I want it to be, and that is why we brought in the RZLT. Second, on the demand end of the equation, there is a demand from the private sector and the State to acquire land to build homes on it. I think they are bigger forces in influencing the price of land going up than the impact of any of the tax schemes in place.