Michael Kitt (Galway East, Fianna Fail)

I refer to the comments of An Taisce and the environmental aspects of NAMA. The body referred to large scale overzoning in the country, a matter to which the Minister for the Environment, Heritage and Local Government, Deputy John Gormley, referred. An Taisce stated that over zoning and the banks childish lending policies have inevitably lead to the present crisis and hundreds of thousands of empty properties, half finished projects, planning permissions and acres of zoned land. An Taisce also makes an interesting point about the potential for land swaps, where amenities such as parks, sports facilities and allotments could be provided. A number of Deputies have referred to this and I welcome the comments made in this regard.

An Taisce also objected to extension of the life of planning permissions, saying this should not be accepted. I do not agree with this point because in many situations an extension to the life of planning permission would be of great benefit. I am thinking of a school in County Galway, work on which was able to proceed because some work had been started before the end of the five-year planning permission. In a five-year period it is sometimes difficult to start projects before the planning permission comes to an end. I welcome some of the points made but we need to re-examine the matter of planning permission.

I refer to the group of 46 economists at third level colleges who do not agree with NAMA. The point was made by Dr. Alan Ahearne that 250 economists were contacted. If 46 signed up to a position against NAMA, more than 200 economists did not do so. We all agree that the main issue is to get the banking system working. I welcome this Bill. We must be in a position to benefit from the upturn in the world economy in the future. Some countries in Europe and in the United States are beginning to recovery economically. If we do not have our house in order we will lose jobs and market share. I hope will be in a position to take advantage of the global market in the future.

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