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Joint Oireachtas Committee on Housing, Planning and Local Government: General Scheme of the Land Value Sharing and Urban Development Zones Bill 2022: Discussion (Resumed) (1 Jun 2023)

...to support development, including housing. The measure is therefore closely related to the existing development contributions scheme arrangements connected to the grant of planning permission for development. Finally, since the Kenny report was published, a number of land capture mechanisms have been introduced by the State. There is a VAT rate of 13.5% on new homes. There are also the...

Joint Oireachtas Committee on Housing, Planning and Local Government: General Scheme of the Land Value Sharing and Urban Development Zones Bill 2022: Discussion (Resumed) (1 Jun 2023)

Cian O'Callaghan: ...sharing, and saying it is an indirect approach, full of risks in how it could impact on the market. They are convincing me that a much more direct approach is needed, whereby we should go to the Kenny report, acquire land by compulsory purchase order, CPO, avoid these indirect approaches to taxation, capture the value uplift there and then, use that to fund infrastructure and then release...

Joint Oireachtas Committee on Housing, Planning and Local Government: General Scheme of the Land Value Sharing and Urban Development Zones Bill 2022: Discussion (Resumed) (1 Jun 2023)

Mr. Hubert Fitzpatrick: The Kenny report was published in 1973, some 50 years ago. At that time, there was no stamp duty, no capital gains tax, no Part V and no development levies. The environment today is totally different from where we were in 1973, and it is somewhat out of date to keep referring to a report that is now 50 years old. I might give one or two examples of adequate land...