Cian O'Callaghan (Dublin Bay North, Social Democrats)

It is absolutely extraordinary that this measure is being brought in for apartments currently under construction, some of which are near completion. In the context of many of those apartments, the prices are locked in. Those purchasing them - approved housing bodies or whomever - have already agreed a price. This will create a windfall profit for developers, and that money will go straight into their back pockets.

There is no need for a resolution like this now. It could have been designed in another way. I do not think it would work for activation anyway. If it was a genuine measure about activation, however, it should have been designed differently. This measure that will be voted through shortly by Government will give some individuals a windfall profit that will go into their back pockets, with no good policy outcome for the public. In fact, it is costing us in terms of the VAT cut and, potentially, it will cost the State because approved housing bodies and others buyers have already locked in prices. This is a really rotten measure in terms of value for money and the public interest.

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