Barry Cowen (Offaly, Fianna Fail) | Oireachtas source

The comparison is plain to see - 12.4% versus 5%. The huge and appalling rise in the price of new houses has to be stemmed. Depending on the actions in Rebuilding Ireland and waiting for supply to meet demand is simply not working without targeted initiatives in supply. The Minister needs to indicate to the House that he will specifically target initiatives that will have the effect of reducing the cost of construction. It is only there that progress can be made. For example, will the Minister either in the budget or earlier provide a holiday on VAT in the construction sector? Will he review planning and development fees? Will he review certification costs and the manner in which certification is carried out? Will he consider competitive finance methodologies such as putting a vehicle in place to allow private investment involving the credit unions and pension funds to fund infrastructure? These are indicators the Minister needs to show the sector he is interested in addressing. To date the failure in that regard has meant that demand has led to this spike and continues to do so.

See this speech in context