Fiona O'Malley (Progressive Democrats)

——but to forecast what might happen is particularly difficult. This is particularly true when providing services as fundamental as providing a roof over one's head. The upside of this economic downturn is that more people can provide homes for themselves. Whether this is provided by local authorities or by the person, it is a good thing.

In every town and some villages, many houses were built with tax incentive schemes. In some cases there is a tight qualification of how these houses are to be used, particularly those in holiday resorts. I question the wisdom of holding fast to those conditions, which are no longer relevant. I ask the Minister of State to consider removing people from the obligation to have these only as holiday lets. They should be available for purchase by the local authorities on behalf of those on housing lists or other people.

We need a fresh approach to the housing stock we have. It is something we cannot afford to ignore. There are many vacant houses and we must consider how to get them occupied and marry the vacant houses with the people who need homes. I would welcome an initiative on this. We must reinvest with human capital in these smaller towns and villages. These were places where people would spend money on holiday homes and local residents were priced out of the market and had to leave. We have the opportunity to provide homes for local people at proper local prices. This is to be welcomed.

The one place we can get value is in the housing stock. We must provide local authorities with enough resources to fill the houses with people in need. I look forward to hearing the revised plans for affordable housing. It is very hard to set any fast ground rules because this is a market in flux. One of the most important financial commitments one makes is for a home and one does not want to see the value of it decline. People are slow to commit to purchasing. There comes a time when people must stop looking at the market and think about investing in their homes for their families for life. One consequence of this may be that people will invest in their homes for life, not as a speculative venture. The return to solidity in how people view their home is to be welcomed.