Oireachtas Joint and Select Committees

Thursday, 18 April 2019

Committee on Budgetary Oversight

Stability Programme Update: Minister for Finance and for Public Expenditure and Reform

Photo of Richard Boyd BarrettRichard Boyd Barrett (Dún Laoghaire, People Before Profit Alliance)
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On the housing issue, does the Minister recognise that the lack of affordable housing is a macroeconomic problem affecting our ability to bring migrants back, stop the outward flow of people we need in a number of sectors, and foreign direct investment? If so, how will that challenge be addressed? We had a discussion earlier about Rebuilding Ireland. We can debate the balance relating to current expenditure, which we did earlier, but, whether we agree about Rebuilding Ireland, we have to phase out at some point the heavy reliance on current expenditure to the private sector to deliver social housing because it is not as good value for money as doing it ourselves. If the Minister accepts that, we must surely move faster than we are moving given the risk. Apart from the housing problem, it is a risk to be so dependent on something that is so costly. Has he quantified that risk fully and calculated the amount pouring out in billions of euro in RAS, HAP and leasing to meet the targets of Rebuilding Ireland? Does he get my question?