Róisín Shortall (Dublin North West, Social Democrats) | Oireachtas source

I thank the Minister. As I said, on the surface it sounds like it is the prudent thing to do. However, when we actually look at the detail it is clear that this is not money that is going to be drawn down when tax receipts are reduced. The Minister said that it is to be a fund that can be drawn down in a force majeure situation where there are external shocks due to natural disaster or some major thing like that. It is not actually in keeping with the common understanding that this is money put aside that can be used in difficult times. It is very specific to natural disaster type occasions.

We have a crisis now in respect of housing. The Government is spending €700 million in rent which is going into landlords' pockets. Surely this is the time to invest those available funds into an area that is of such systemic importance to our economy that it is putting huge pressure on wages, for example. Even employers are looking for that money to be invested in housing now rather than putting it away for some potential future use.

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