Eoin Ó Broin (Dublin Mid West, Sinn Fein) | Oireachtas source

Nobody is suggesting that HBFI should lend at rates below market rates. I refer to giving HBFI the flexibility that it may act and lend at more competitive rates but still allowing for a commercial rate of return. The Minister of State's point does not deal with that. On the substantive point, I would much prefer to be tabling amendments to section 7. I am prohibited from doing that because it would place a charge on the State. Placing these amendments in this section has a purpose.

It at least indicates in the legislation the desire of the Oireachtas for Home Building Finance Ireland to provide such loans. If we are saying we would like it to engage in such practices to try to provide more competitive loans for smaller builders for a variety of projects, including them would have an impact. The legislation states very clearly that when Home Building Finance Ireland is established, it is something the Oireachtas wants it to do. If the Minister is willing to table his own amendments in the Seanad to section 7, I would have no difficulty with them. However, it is my understanding he will not do so. Therefore, section 13 is the only place where I am allowed to table such amendments. I will be pressing them.

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