Joe Higgins (Dublin West, Socialist Party) | Oireachtas source

In such circumstances, I ask the Minister of State to take a precise note of the points we are making and respond to them in the language used by ordinary people.

This is a very simple matter. There is €6.9 billion which is owned by the working people and pensioners of the State and which is currently invested in commercial enterprises and corporate entities across the globe. The idea is to bring it back to Ireland and invest it here in order to create economic activity and jobs. I agree with this. However, it is clear that this project is being refracted through the ideological prism that is the current Fine Gael-Labour Party Government. There is the potential to utilise the funds to which I refer in housing provision and put together State-wide projects that would meet one of the most critical human and social needs in the country and alleviate some of the worst suffering being experienced by individuals and families who do not have homes. All we are seeking is that we follow, to some extent, the example of what was done in the 1970s in terms of the numbers of houses local authorities can construct to meet existing need.

Many local authorities did not build houses last year and that will be the case again this year. In that context, the amendment suggests the agency have the power to enter into arrangements with local authorities or a housing authority established by the Government in order to facilitate the provision of social and affordable housing. Why is it necessary to opt for privatisation and funnel substantial funds into the pockets of builders and developers, many of whom wrecked the country and its economy through their profiteering in the past and who one can now meet on their way out of NAMA? As what we are suggesting is the moral and sensible thing to do, let us hear the Minister of State's argument against it.

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