Joe McHugh (Donegal North East, Fine Gael) | Oireachtas source

I will convey the Deputy's specific point to the Minister. This is about supply and demand and the increase in rents. The issue is not confined to the capital but also manifests itself in places such as Limerick, Galway, Waterford and Cork. The Deputy acknowledged the short timeframe in which the Government has taken a series of actions. Within a period of six years the Government plans to invest €3.8 billion in the building of 35,000 houses, comprising public private partnership and State provision. This is an attempt to address the supply and demand issues. As an economics student, my first lesson was on supply and demand. There are supply issues in Dublin. There was a high profile issue in recent weeks. I acknowledge the proactive approach taken by the Cabinet and the Minister and the Minister of State in introducing the 50% quota to ensure 50% of local authority stock within four local authorities go to homeless persons to ensure that over the Christmas period we will not have people on the streets, aside from those who decide to do so voluntarily.

I appreciate the supply and demand points raised by the Deputy. He raised the issue of interfering with the market through a rent freeze. The market is the market, but the Government can lead from centre stage by addressing the issue of supply. We can work towards resolving it in partnership with the private sector.

See this speech in context