Mick Wallace (Wexford, Independent) | Oireachtas source

The Minister of State did not address my point that it would be irrational for landbankers not to mortgage their landbank assets. The Government is telling them that, if the mortgages are of a certain size, it will reduce the levy. I am baffled by how the Government will justify it. This is a no-brainer, another serious loophole, and I will be curious as to how many sites are caught in the so-called net that the Bill will introduce. It is more of a sieve than a net. Not many sites will qualify for the levy as presented by the Government.

The Minister of State made the point that the Government was trying to stimulate activity and that this provision was not directly related to landbanking, but it was presented initially as something that would deal with landbanking in some form or another. He must admit that this has zero to do with tackling landbanking. This missed opportunity is a disappointment.

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