Pádraic McCormack (Galway West, Fine Gael)

I was glad to hear the Minister acknowledge, following his first outburst when he pretended the price increase was less than in the 1990s, that there was a 10.6% increase in new house prices and a 10% increase in second-hand house prices. The Minister stated many times since taking up his current post that he is doing everything in his power to keep down the price of houses. How much of the increase in house prices is a direct result of Government policy?

For example, the now departed Minister for Finance, Mr. McCreevy, who got the yellow card and went to Europe, increased VAT on building materials by 1%, which added between €10,000 and €15,000 to the price of a house. In the same budget, the former Minister abolished the first-time buyer's grant. Instead of having me tell the Minister the figures, will he tell me how much of the increased cost of new houses relates directly to decisions taken by the Government since he took up his current position?

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