Eoghan Murphy (Dublin Bay South, Fine Gael) | Oireachtas source

No, I am not talking about the bank of mum and dad but about their own savings and the help to buy scheme which the Government has introduced. The affordability measures are working. Look at what LIHAF is trying to achieve and what it will achieve with State funding. We will get a much bigger bang for our buck than if we had invested the money directly. Furthermore, thousands of homes are being built on sites that may not have been built on until 2021 had we not put the funding in place. That is what is being delivered by LIHAF. It is increasing supply and there is also a claw-back in terms of affordability. Not every LIHAF project that was to be commenced is being followed through. In some instances, the developers are proceeding without the local authority or Government assistance and as a result there will be no affordable housing units on those sites. The LIHAF funding will help to secure affordability in parts of Dublin where previously there would not have been affordable homes available.

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