Barry Cowen (Offaly, Fianna Fail) | Oireachtas source

I thank the Minister for his response. I accept and acknowledge that there is potential in the future development of the sites the Minister spoke of. I would have hoped for them to come on stream much earlier than this, but I accept the mechanism under which the Minister believes the development can take place and the benefit that can accrue to the State, as the Minister has said. I would hazard a small warning on the Minister describing the projects as being assessed individually and case by case.

It may be that we can derive benefit from the dividend in the provision of social and affordable housing, but I would advise against the provision of cash. To be honest, the Part V scheme had that option and it did not prove fruitful for the local authorities. More importantly, it did not prove fruitful for those who were hoping to acquire or receive the benefit of a home from the scheme. I ask the Minister not to consider cash as a dividend in this respect.

While I do see the merit, as private developments take place there are concerns. This week Cairn Homes, for example, announced quite substantial profits. It was public knowledge. This says that the methodology of the Government, where it sets the bar in order to encourage builders into the market, is a dangerous one. In the absence of a specific obligation on such private sector developers, a select few of whom have funds available again, it should be incumbent on them from a legislative perspective in the House to ensure there is a benefit to the State through Part V. It was a mistake to decrease it to 10%. I ask the Minister to increase it and to have 10% affordable and 10% social housing.

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