Eoin Ó Broin (Dublin Mid West, Sinn Fein)

The potential saving for a cost-rental tenant paying an average rent of €1,500 per month would be €225. That is €2,700 a year. I hope that he would insist rather than expect that the LDA provides that. Equally, the VAT reductions on apartments could also be a helpful way for reducing the rent if the VAT reduction is passed on to the AHB or LDA through Project Tosaigh or forward purchase. Is the Minister going to insist that the €20,000 or so reduction in costs to a developer will be passed on to any AHB or the LDA entering into a forward purchase agreement? Will he clarify how the VAT reduction is going to work for AHBs and the LDA when, for example, they are forward funding as opposed to forward purchasing? It simply makes no sense for the State to provide this VAT exemption for apartments currently under construction if the LDA or AHBs, which are funded by the Department, are not benefiting from a very significant reduction in costs.

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