Richard Boyd Barrett (Dún Laoghaire, People Before Profit Alliance)

I am not clear about the Minister of State's reasons we cannot proceed in the manner I outlined. I accept what he said about economic constraints but this is a financially positive move for the State. We will save money if we invest in NAMA housing stock or build new social housing to house those on housing waiting lists. Surely that is a safe bet in terms of capital investment. We have money in the National Pensions Reserve Fund. If we house people we will save on rent allowance payments and get revenue into the State through rental income. There is no risk in doing that and it would get people back to work. I do not understand why we would not do it.

The leasing arrangements are crazy because they are throwing money away to the benefit of private developers. Could the Minister of State guarantee that in so far as leasing arrangements are entered into, they will not be with developers who are bankrupt so that we are essentially keeping them in business when they are bankrupt? It is one thing for a local authority to lease from NAMA because the money is coming back to us but it would be a crazy waste of money if we were to lease from a developer who is bankrupt and who would not still be in business were it not for the existence of a local authority lease. I seek assurances in that regard.

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