Eamon Gilmore (Dún Laoghaire, Labour)

I wish to refer to the Taoiseach's reply to Deputy Ó Caoláin's questions on housing and in particular the Taoiseach's response on the long-term leasing arrangement that has been announced by the Minister of State, Deputy Finneran. Does the Taoiseach consider that is the best use of public money? As I understand it, the long-term leasing arrangement is one whereby the State will provide money to local authorities to lease properties for up to 20 years for subletting to people on the local authority housing lists. The cost involved over 20 years is approximately €240,000 in today's money paid in rent by local authorities for a long-term lease. Would it not make more sense to purchase these properties rather than to lease them on a long-term basis? If the public authority leases them on a long-term basis, it will have no asset at the end of the 20 year lease. Furthermore, the tenants will not be able to avail of the opportunity to apply to purchase the properties under a tenant purchase scheme as they would if they were living in local authority dwellings. I understand the local authority construction programme is being wound down.

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