Peter Fitzpatrick (Louth, Independent) | Oireachtas source

If the directive is transposing the law as outlined, the much-needed projects to which I refer and many others will have to be terminated. I have seen the fantastic work they have done in Drogheda and Dundalk. That will take money away from providing immediate positive contributions to the housing crisis. I do not agree that what the Government is doing is in people's interests. If the directive is transposed as outlined, the approximately 30 jobs to which I refer will all be lost. I do not say that in order to scaremonger. The situation will probably be replicated throughout the country.

It is great to see companies investing in projects and in the wider economy. The Government must help people. This local business in Dundalk is responsible for 1,250 small self-administered schemes. The company has worked very hard. One of the Minister's predecessors, Seamus Brennan, identified the problem in 2004 and resolved it. It is unfair to state that we should not look at what happens in the UK. We replicate much of what happens in the UK. Much of the money that is being invested goes back into the economy. We have a serious shortage of housing and we have other serious problems. Currently, pension schemes invest the money in the economy. The last thing we want to see is multinational companies coming in, taking all this money and investing it outside of the country or the vulture funds coming in and not distributing money fairly. I urge the Minister to examine the position. She could make the required decision with the stroke of a pen. This is her directive. I would very much appreciate if the Minister addressed the issue.

See this speech in context