Michael McGrath (Cork South Central, Fianna Fail) | Oireachtas source

I thank the Minister his reply and for the updated numbers. There have been more than 6,000 stage 1 applications, with in excess of 3,600 approved and 1,677 completed at a cost to date of €17 million with applications worth €5 million in the system, giving a total of €22 million. The cut-off date was 19 July 2016. The Minister seems to be saying the cost is likely to come in line with the budget estimate of €50 million for this year but we can revert to that issue.

I welcome the fact that the Minister has honoured his commitment to conduct an independent assessment to examine the impact of the scheme on the supply of new homes, the prices of new homes and the market generally. Many independent commentators, who do not have any skin in the game, have raised a concern that the scheme is directly pushing up prices, which is not what the Government should want. Can the Minister clarify his own view at this stage? Has he evidence of the scheme putting upward pressure on prices? Does he believe that is the impact it is having?

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