Bertie Ahern (Dublin Central, Fianna Fail)

It would be good if Deputy Sargent read the 40 minute speech I made in Druid's Glen; quite apparently he did not. He has made one remark about what I said afterwards in a press briefing where I was asked if there would be a crash. I said that I did not believe there would be a crash. I will give Deputy Sargent the same answer I gave that day. Irish residential property stock is worth €500 billion and the loan book is €100 billion so I do not see why that should create a shock. I said the same in 2003, 2004 and 2005. I said the same thing at the IMI conference almost every year and every year I had to listen to reports that the bottom would fall from the market and we would build fewer houses but that is not the case.

I went on to say that the priority of this Government is to ensure we get supply and demand. We have worked hard in this Government and successfully achieved the creation of more houses every year for nine years, both social and affordable.

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