Mr. Fergal O'Brien:

We have discussed the scale of the problem in this committee and other committees on a number of occasions. The degree to which the housing factor is constricting and restricting labour market employment growth and employers' ambitions to grow and expand their businesses can be seen in every part of the country. The very sharp end of that from an economic and employer perspective is that we definitely see the challenges in the private rental sector as a real problem when it comes to employment. That is only one aspect of the housing crisis but it is particularly sharp from an economic and employment perspective.

The budgetary measures are not significantly material but we have been looking for some time to have certainty and consistency in overall housing policy. While we believe there are changes that can make a long-term permanent improvement, and they should be proceeded with by all means, we have to be careful with continuous tweaking around housing policy. From our perspective, there is no game-changer in budget 2024 with regard to the impact on housing. There is some support for landlords. The failure of the private sector rental market is a real problem. What came out on budget day will probably have a marginally positive impact but it will be marginal.