Phil Hogan (Carlow-Kilkenny, Fine Gael)

Better value can be obtained on the open market than through the affordable housing scheme under Part V. It does not make sense to continue the scheme in those circumstances. The Minister of State, Deputy Penrose, is working assiduously with the National Asset Management Agency, a quango we would prefer not to have inherited, to roll out the social dividend in terms of providing housing to people on the waiting lists. There will be opportunities for people to purchase houses under the new scheme outlined today. As well as a leasing programme over 20 years, there will be options to purchase incrementally or otherwise. The affordable housing scheme has outlived its usefulness and we want to ensure people are able to borrow money to buy houses at the competitive prices which obtain today.

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