Pearse Doherty (Donegal, Sinn Fein) | Oireachtas source

We hear in media reports today that a special savings scheme for housing is under consideration by the Government. Not surprisingly, this is the brainchild of Fianna Fáil. At a committee meeting last week, the Minister for Finance, Deputy Donohoe, completely ruled out the idea of such a scheme. He bluntly answered "No" when asked by Deputy Broughan whether one was under consideration. We know these schemes increase the value of homes and undermine the Central Bank rules. The winners in these schemes are developers and the banks, while the losers are families and working people who are trying to get on to the property ladder. Britain intends to abolish its scheme because it created a direct transfer to the most wealthy and fuelled property prices. Will the Tánaiste be as clear as the Minister for Finance was in the committee last week when he said such a scheme was not under consideration? If it is under consideration, will he explain the reason there has been such a U-turn in recent days?

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