Darragh O'Brien (Dublin Fingal, Fianna Fail)
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This is fundamentally an activation measure. We have estimated the costs to be approximately €308 million, as I said earlier on. We want any savings that can be passed on to be passed on. One of the most significant issues is that we need to ramp up supply, where we are talking about it being across all tenures. This is a targeted measure and will last from today, 25 April, to not later than 24 April next year. It will be on the basis of lodging a commencement notice and the developments must be finished by 31 December 2025.

To return to the point made by Senator Boyhan, this is not a measure which will be extended.

We are not going to monitor every single development and I want to be very clear on that. This is about getting additional activity which is focused, in particular, on developments which have been paused.

To conclude, if one looks at apartment costs in particular, between the development levy and the water connection charge, this could be just short of €20,000 per unit. It is a significant reduction in cost, which we would expect to be passed on. We are not going to monitor every scheme and I want to be very public about this for the Deputy.