Simon Harris (Wicklow, Fine Gael)
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We aim to have a public consultation early next year, but I will revert to the committee as I know members will have a keen interest in it.

I understand the points made by Deputy Doherty. Quite rightly, he can list a number of examples of time limits for various initiatives and taxation measures. The Minister has taken the view there is no need to do so for this measure. It has been very obvious the windfall tax has been a barrier to transactions. It was introduced, I accept, as an emergency measure at a time of crisis. The property market is now stabilising, and perhaps normalising, and therefore we do not need barriers to property transactions. As I outlined in my opening contribution, the Minister is adamant he is keeping this under close review, and there is no assurance for anybody that he will not reconsider it and he could introduce a levy at a later date. This is a measure to remove a barrier to transactions.

With regard to Dublin, it is worth saying that in the immediate timeframe there is no shortage of development land in Dublin. The problem is the actual lack of development, which is where consultation on what we can do to stimulate development can play a role. There is no shortage of development land in Dublin, but there is in other parts of the country. According to the Department of the Environment, Community and Local Government, enough land is zoned for housing and has planning permission in the Dublin area for 30,000 housing units, or four years of supply, if construction activity were to be increased. We have enough land in Dublin. We are cognisant that if land were rezoned in other areas where there is a need for development it would be subject to the windfall tax provisions, as would the zoning of land development land generally. It is like the conversation we had earlier about trying out something in a Finance Bill. We believe the windfall tax is no longer required. We believe it is a barrier. We do not see it necessary to include a time limit because we are clearly outlining the Minister for Finance will keep it under very close review and consider it in future finance Bills.