Mary Upton (Dublin South Central, Labour)

The legacy of the Celtic tiger will not be relished by a large number of people in this country because of the fear it has generated in their lives. They face a stark outcome of uncertainty about their homes, heavy debt from their mortgage commitments, lives in overcrowded conditions and shelter in hostel accommodation or a cardboard box in the doorways and archways not far from these Houses.

What is the real outcome of the downfall of the tiger? The number on the social housing lists now tops 56,000 and more than 5,000 people are homeless. Major urban regeneration projects, such as St. Michael's Estate in Inchicore, have failed and revised plans have been scaled back significantly. There is no regulation of management companies nor support for apartment owners, although a great deal of favour is shown to landlords and construction companies. Unfinished and vacant housing and commercial developments dot the country, with all the signs of neglect and incipient dereliction. Lack of regulation by the Financial Regulator led to sub-prime lending and 100% mortgages and spurred the recent spike in housing repossessions.

There were opportunities over the past ten years to deal with homelessness and social housing but they were squandered. The Government's job is to lead and make the right choices for all the people and not just the chosen few. Above all else, it has the responsibility to protect those least able to look out for themselves. This did not happen for many people who now face repossession of their homes or exorbitant mortgage payments which they cannot make because of rising unemployment. The Government bought into the property bubble and bent over backwards to provide tax breaks to help developers continue building private homes. There were no sanctions for the banks and mortgage providers which indulged in excessive and irresponsible lending practices. I have previously referred in this House to the case of a woman on a community employment scheme who was given a mortgage worth €150,000 that she has no prospect of repaying and is now facing the repossession of her house. Tax breaks were available for second homes. Poor planning decisions went unheeded and every attempt to update planning legislation to favour residents over developers was dismissed.

As we look back on this activity it is clear that very little was done to support those in need of help. Where are the supports for the thousands of homeless people? A hostel for the homeless was built on James's Street in my constituency but was not opened for months because there was no funding for its day-to-day operations. It was only today that the official opening of this facility took place, although I acknowledge it has now been open for several months.

The legislation to regulate management companies seems to be stored in mothballs. The future of our cities and towns is higher density development and, in all probability, more management companies yet the Government seems incapable of regulating these companies so that they work for their residents instead of their directors and management agents.

Home repossessions are increasing. An increasing number of people in my constituency are facing an uncertain future in their homes. The social housing list continues to expand, with 4,991 people on the social housing list in the Dublin City Council area alone. As this figure dates from February 2008, it probably underestimates the true nature of the current list.

If we bail out the banks what does Ireland get in return? Will we see an end to primary home repossessions for the duration of the recession, as is the case in the UK? Will repossessed commercial space be given to community and sports groups? Will houses in vacant developments be made available to people on housing lists? Thus far, we have received absolutely nothing for bailing out the banks, despite the large cheque written by the Minister for Finance, Deputy Brian Lenihan, to accompany the State's guarantee. The Government has forgotten that it was using taxpayers' money during the Celtic tiger era. Now that the good economic times are over, it is clear that no real progress towards equity and equality in the housing market was made. We have thousands on the national housing lists and many more face evictions or repayments of sub-prime mortgages. Public private partnership regeneration projects are foundering as developers look for more money and the Government's relentless drive to support developers has not given Ireland any long-term benefit or addressed the huge housing crisis. The Irish housing boom was the emperor which never had any clothes and people are only just beginning to feel the consequences of the various ill-judged investments of taxpayers' money over the years. I commend the motion to the House.

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