Eoghan Murphy (Dublin Bay South, Fine Gael) | Oireachtas source

This is not a revenue raising measure. We did not bring in the vacant site levy to bring in money. We brought it in to encourage the use of land for development. We will not measure this based on the amount of money we bring in but on the number of sites we get under construction as a result of bringing in the levy. As I said, development is taking place on 42 sites since we brought in the levy. We more than doubled it to 7% but over the two-year period that becomes 10%. That is punitive. If someone has a piece of land worth €1 million, which actually is not very much for a piece of land-----

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