Oireachtas Joint and Select Committees

Wednesday, 22 March 2023

Committee on Budgetary Oversight

Stability Programme Update: Discussion

Photo of Bernard DurkanBernard Durkan (Kildare North, Fine Gael)
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It has been a very useful conversation. There is one aspect I wish to refer to that relates to the construction industry and the building of houses, given that the building of houses is absolutely necessary. The annual house building rates are way beyond anything we have achieved so far. Is it true that the construction sector, developers and builders, are relying on investment funds to fund their operations? What happens afterwards? Is it at the same interest rates that are available in the pillar banks or are they at a punitive rate?