Mick Wallace (Wexford, Independent) | Oireachtas source

Although finance for builders is a good idea, is it correct that approximately 8% is being proposed? Will NAMA have any involvement? As Members know, none of the houses in which NAMA has had an involvement will be sold at an affordable price. It is considering a minimum of approximately €350,000, which is not an affordable price for most people in Ireland who need a house and cannot get one.

I am 100% in favour of the State facilitating small developers to build by organising finance for them because, as we know, many of them are struggling to obtain finance. Large developers can build, but the State has the option of cutting them out and working with small developers by financing them. This could have a huge impact on the supply of housing. Housing must be provided at an affordable price. Given that the State can borrow money at less than 1%, surely a rate of 8% is draconian.

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