Dan Boyle (Green Party)

When the Bill was initiated in this House, I raised the matter with the Minister and found him willing to introduce these amendments. I am glad they have been accepted in the other House. This issue has been a long-running sore since legal difficulties arose when the scheme was first introduced in the 1980s. The mechanism chosen will alleviate most of the concerns which have arisen since.

It is my understanding that, subject to the regulations which will follow this legislation, the discount being offered will vary from the standard 30%, or 3% over a ten year period, to 60%. I ask that the full 60% discount, or as close to it as possible, be offered to those who in the 1980s, having been involved in a housing purchase scheme found the offer withdrawn by local authorities particularly in Cork and Dublin. A court action followed in Dublin. Attention must be given to people who, now more than 20 years older, will find it difficult to secure banking finance for the increased purchase price. Attention must also be given to the increased asset value of the properties. It is important that the maximum discount is offered to people who find themselves in this position.