Catherine Connolly (Galway West, Independent) | Oireachtas source

I thank the Minister for his reply. He quoted Mazars in relation to a lack of evidence. The report said there was no definitive evidence. It stated: "The scheme is poorly targeted with respect to incomes, location, house prices and other socioeconomic factors." Will the Minister comment on that part of the report?

The report also states: "As a result, it has socially regressive impacts, there is a considerable deadweight associated with the expenditure, and it is poorly aligned with spatial policy." It goes on and on, stating, "The sort of policy uncertainty that has arisen [as a result of] ongoing ... extensions without a clear picture of the longer-term ... environment is undesirable." It states: "A rational approach would not design the scheme as it currently exists[.]"

In other criticisms, the ESRI, referring to the extension of the help-to-buy scheme, states: "Given the robust demand for housing combined with long-standing supply ... it is likely that these demand-side policies [the help to buy and others] will increase demand for housing, putting pressure on house prices." I will come back in relation to the Parliamentary Budget Office.

See this speech in context