Paschal Donohoe (Dublin Central, Fine Gael) | Oireachtas source

My Department and I have already identified we acknowledge that on a macroeconomic level, and from the point of view of our society, this is a major risk, and I laid that out in my answer to the Deputy. Second, as I acknowledged in my answer, we can see signs of progress being made. In particular, from a planning permission point of view, we have seen 24,531 new homes granted planning permission in the 12 months up to March of this year. This is up 37% on the 12 months to the end of the first quarter. In the first quarter of 2018 alone, planning permission was granted for 8,400 homes, which is an increase of more than 81%, and a 178% increase in planning permission for higher density homes. We can see signs of change in supply in the housing market. In relation to the €1.4 billion, as the Deputy knows well, we would have to borrow more to do what he outlined. I have heard the Deputy on many occasions warn of the dangers of pro-cyclical economic policies but that is what he is advocating now.

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