Seanad debates

Wednesday, 11 December 2002

Planning and Development (Amendment) Bill, 2002: Committee and Remaining Stages.

 

If I were to take the total amount of what I might have obtained in respect of houses all over the country, it would be more substantial than that. In respect of houses with a value equal to or greater than €270,000, the levy will rise to 1% which is a reasonable figure. The yield on 80,000 units at €1,000 per unit is €80 million. I believe I am being conservative in terms of the amount we can bring in for local authority housing throughout the country and I hope the final figure will be much more substantial.

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