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

The response to a parliamentary question in regard to how much it costs to construct a council house is that it would cost approximately €100,000 to do so. That is what I am basing my calculations on. I would appreciate it if Deputy Lawlor ceased interrupting me.

This means that over ten years the scheme would pay for itself. Following that, there would be a revenue stream back to the State - money that would otherwise be going to private investors such as LoanStar and other vulture funds. In the context of the repayment of all debts to private institutions, even they would see that this guaranteed revenue back to the State. Also, the construction of social housing would put many people back to work. That is strategic investment that is sustainable, long-term and beneficial to the economy and society. I do not understand why the Government will not do that and the reason all the emphasis is on partnership with the private sector. We all know what happened to public private partnerships such as the one with Bernard McNamara in O'Devaney Gardens, Dominick Street and so on. They were a disaster. Why would we do that? It is a waste of money. It is money down the drain, it is unreliable, it does not work and it has had disastrous consequences in the past. What I have proposed is the type of scheme in which we need to invest. It would meet real social need, create employment and all that would flow from it and provide guaranteed revenue to the State.

Another area that could be examined is that of forestry. Despite the fact that we have the most favourable conditions in Europe for the growth of forests, we have spectacularly failed to meet our afforestation targets. This country was once covered by forests. Forestry is a safe investment. It generates a lot of employment and so on. I do not propose to go through all the data because we have already discussed it during several debates. Forestry provides a guaranteed number of jobs for a set amount of acreage. It is a long-term safe investment. The value of timber globally is increasing. A lot of international funds invest in forestry because it is a safe, good investment. It is also good for the environment.

See this speech in context