Catherine Murphy (Kildare North, Social Democrats) | Oireachtas source

I have no doubt that a great deal of money will be spent next year. The one thing we cannot do is waste it; the other thing we cannot do is to take a short-term approach. Long leasing for 25 years on 90% market rents with a four-year review is an expensive way of delivering when the State does not own the asset at the end, but I am increasingly seeing it. Developers are being encouraged to choose this option for Part V housing. When we reduced the Part V obligation from 20% to 10%, the assumption was that Part V housing would deliver permanent social housing, but that will not happen.

The mortgage will be paid over 25 years. That absolutely must be looked at as a matter of urgency in terms of value for money but also good outcomes. In addition, we need to look at where the logjams are. We can throw numbers around about housing lists coming down but it is about how they are coming down. That is important as well because this money is finite. My big ask is that the Taoiseach look at this long-leasing model.

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