Mick Wallace (Wexford, Independent) | Oireachtas source

I thank the Minister for his reply. As he is aware, I believe that the LDA will hand control of the supply of housing to a few elite entities, such as developers and investors, rather than it being under the control of the Government or builders. That is not the right way to move forward.

I am mystified as to how it was decided to appoint a former NAMA chief financial officer as CEO of the LDA. What expertise does he have in residential delivery?

We are giving up public land and allowing financiers to speculate on it for profit and private builders to build on it for profit. One cannot expect that the private units in such schemes will be affordable. I have introduced legislation proposing an increase in the vacant site levy to 25% and the removal of many of the exemptions that currently apply. It is awaiting a money message from the Department of Public Expenditure and Reform before Committee Stage may begin. If the Government wishes to address land volatility and speculation, it must support that Bill. Does the Minister agree with a 25% tax on landbanking?

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