Brian Stanley (Laois-Offaly, Sinn Fein) | Oireachtas source

On question No. 193, the problem is that the State, through the taxpayer, is taking on the liability with NAMA. As Deputy Ellis indicated, NAMA is a State company which means it is owned by the citizens of the State. The problem is that we have taken on the liability but now NAMA seems to be in hock to the developers, in the sense that it is leasing from them.

I have a suggestion that could be examined. We have estates full of empty houses. The Minister of State is familiar with Gleann Alainn and other estates in County Laois. In some estates only a few houses are occupied and there are dozens of empty houses. Could the Minister of State examine the possibility, through NAMA or the Department, that where bonds have not been paid or developers have absconded that houses could be secured in lieu of a bond? If, for example, there were 30 empty houses, could ten of them be secured in lieu of the bond in order that the estate could be finished? The local authority would get ten houses and the State would receive a dividend. The State is taking all the risk. Joe and Mary Taxpayer are taking all the risk. I accept that the Minister of State has said she is trying to accelerate the process. I saw her on the television recently in Drogheda. I welcome what took place there. It is a good news story. However, as Deputy Ellis stated, the problem is that the liability still rests with the taxpayer and the money is still filtering back to developers. Where they have not finished estates, could some of the houses be taken in lieu?

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