Paudie Coffey (Fine Gael)

This is a reasonable recommendation. The Minister can come back to us on whether it should be provided for in legislation and whether the time for the cost-benefit analysis should be adjusted. It is reasonable that we would require such an analysis. A basic business plan would require such an analysis and it should be no different when it comes to running the country. I acknowledge that where incentives were provided, employment was created in the west, but saturated levels were reached, which has had a negative social and infrastructural impact on the areas in which the houses were built and the local authorities with responsibility for them.

Senator Ormonde referred to ordinary people and the taxpayer. I have no doubt that many of these schemes were abused by wealthy people who loaded a great deal of money into them to lower their tax burden and, in some cases, they paid very little tax. Many ordinary PAYE workers did not have the income to benefit from such schemes.

I acknowledge the holiday homes schemes regenerated some seaside towns and villages, but they were also abused and saturation was experienced. The concept was good, but the implementation and administration of the schemes were poor and they have also had a negative social impact. There are ghost estates in small villages in the west. What will happen to the houses? They are a burden on local authorities which have to service them. This has also had a negative effect. I agree that we should consider a measure to allow people who might be to the pin of their collar to readjust their finances in order that they do not go bust.

I am familiar with the urban renewal scheme which was implemented by local authorities in 1998. The concept was good as it was hoped to incentivise people to invest in regenerating small towns and villages, but, unfortunately, the take-up was low. Why were people not willing to invest? They could have invested in sustainable developments in town centres. but the take-up was low. In the designated areas in County Waterford consultants and local authority staff spent a great deal of time compiling strategies and plans, but the take-up was low and the regeneration did not happen. While I agree with the concept, there should be a cost-benefit analysis. The Minister will outline this views on how it should be framed or managed. We need to be realistic, not tie the hands of the Minister. A basic business plan would require this level of analysis and the country requires the same.