Malcolm Noonan (Carlow-Kilkenny, Green Party) | Oireachtas source

There is no doubt that the Deputy is correct in his points. He highlighted in his opening comments a lack of transparency and public engagement around SHDs, which he described as "a tantalising prospect" for development funds and a cause of inflated rents. They have undoubtedly had a distorting impact on the housing market. I take on board the point that putting a deadline into the legislation at the outset has perhaps led to a rush of applications for SHDs. However, viability in the housing sector remains a very significant issue. Any combination of planning and taxation measures to support home ownership in lower density types of developments must be balanced and proportionate, while remaining cognisant of the ongoing viability issues.

The Minister, Deputy Darragh O'Brien, recently brought to Cabinet measures that will increase Part V provision from 10% to 20% and include affordable-purchase housing as well as social housing. That will prevent investment funds from snapping up entire developments. We will also continue to prioritise the range of measures that are in place to increase supply and support first-time buyers to take their first step onto the property ladder. The SHD arrangements are being extended to 25 February 2022, after which they will expire. Work is ongoing on the development of new legislative proposals for the wind-up of the current SHD arrangements and dealing with the submission of large-scale housing planning applications, including student accommodation, to local planning authorities. It is intended to publish the general scheme of a Bill for this purpose as soon as possible.

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