Seanad debates

Wednesday, 20 November 2002

For a number of years the industry has clearly not needed our support – at least, it should not have needed it. When I did leaving certificate economics, back in the 1970s, I was taught that these matters depended upon supply and demand; if the demand was there for something the industry would supply it. However, for the past three, four or five years there has been a huge demand for houses in every sector and the industry has been incapable of or unwilling to supply it. This is the core of the issue. My party and I believe that the industry and the sector have been manipulated deliberately by builders to ensure that supply does not meet demand. That in turn feeds, deliberately and directly, into the super-normal profits which many in the industry have enjoyed in recent years.

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