Paschal Donohoe (Dublin Central, Fine Gael) | Oireachtas source

We are building public housing. The most dangerous concept in politics is that there is no alternative. I would never suggest that. We are building public housing and social housing. That is happening at scale. I was with the Taoiseach earlier today in St. Mary's Mansions on Sean McDermott Street. I saw a wonderful project delivered by Dublin City Council and Clúid. Let us look at what is happening in Dominic Street at the moment. Let us look at the brilliant, wonderful accommodation in Sean Foster Place in my constituency. They are apartments being built by the city council. What we are doing is funded by an economy that is recovering. I assure Deputy Boyd Barrett that those homes are being built.

I accept Deputy Doherty's description of IREFs, but the next part of it is that when the income is distributed from the IREF, it is taxed at that point. That is where the taxation occurs. In making the case for the role of IREFs, the Deputy must acknowledge where the tax is paid. If one is an Irish-resident investor, it is at 41%.

That is the extra tax that is charged on IREFs. A non-resident investor is then subject to a 20% withholding tax payment when the income is distributed. That is what has happened.

I am so struck with the Deputy who has used the comment about me attacking Sinn Féin on a number of occasions here in the debate. The Deputy should not think that he is going to come here and put forward a case for change and not have his arguments tested. He tests me on my record as he is entitled to do, but I ask the Deputy please not to think that I am going to allow the case for change to be made and not scrutinise that case and not challenge him on it with the vigour with which he tests me. That is what both of us are here to do.

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