Dáil debates

Wednesday, 17 May 2006

10:30 am

Photo of Trevor SargentTrevor Sargent (Dublin North, Green Party)

No Fianna Fáil Deputies turned up at the meeting about Aer Lingus, that is the real point.

A report in The Irish Times today, details the support and largesse the Taoiseach enjoys from a large number of construction companies. Does this special relationship explain the Taoiseach's comments at the IMI national management conference in April, where he talked up the housing market, even though prices have risen by nine times the rate of wage inflation and average household debt has increased from 40% of disposable income to 130% since this Government took power?

The OECD states that the housing market was overvalued by 15% in 2005, the Central Bank states that the housing boom is unsustainable and poses a significant risk to the economy and the ESRI has expressed concern. Even the Minister for Finance tried to talk down the boom, hoping for a soft landing. Some commentators have even said that the Taoiseach's reckless comments could be seen as irresponsible. The Taoiseach's comments at Druid's Glen, that the levels of gross indebtedness due to inflated house prices are not a problem for hard-pressed mortgage borrowers, were irresponsible. On reflection, and in the light of those comments in direct contradiction of his claims, would the Taoiseach accept it was irresponsible to make such remarks?

Comments

No comments

Log in or join to post a public comment.