Eoin Ó Broin (Dublin Mid West, Sinn Fein) | Oireachtas source

The problem is that supply in itself will not automatically guarantee affordability. I go back to the questions Deputy Cowen raised. Every time anybody in this House asks about affordable rental or affordable purchase, the answer is, "We're looking at models". The truth is that the Government does not have any models. I understand one project is about to be developed involving the Housing Agency and two approved housing bodies in Dún Laoghaire. That will be the first possible affordable rental model. However, I am hearing that the entry-level rent will not be anything close to affordable.

The difficulty will be that if €15 million of taxpayers' money is drawn down in a project such as Cherrywood and if none of those units comes in at below €300,000, people will rightly want to know if it is a good use of taxpayers' money. The Minister's answer is a little better than that given by his predecessor. It would help local authorities in their negotiations if the Minister says very clearly that if there is no affordability dividend with actual affordable units, then money will not be released.

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