Paul Bradford (Fine Gael) | Oireachtas source

I join my colleagues in paying tribute to the late Nelson Mandela. I trust the Leader will arrange a more substantial timeframe for additional statements in the coming weeks. I note with satisfaction Senator Bacik's comments on the unveiling of a memorial to the former President of Czechoslovakia, Václav Havel, who was a politician of huge moral substance. To speak of Havel and Mandela in the same breath offers very positive guidance for everyone who is involved in politics.

I ask the Leader to arrange a debate on the issue of housing from the perspective of people who are on housing lists or are attempting to purchase houses. There has been much talk of an improved market but I am concerned that we are beginning to welcome an increase in house prices as if it is somehow a panacea for the economy or will get Ireland back to work. Let us not forget that much, if not all, of our current economic dilemma and misery was caused by house prices. We should be cautious in our welcome of the movement in the property market. Hundreds of thousands of people in the private rented sector and on local authority housing lists have an interest in securing homes.

I have enormous political and personal respect for the Minister for Finance, but I was unhappy yesterday to hear him welcome the availability of interest-only loans to landlords for the purchase of private rented accommodation. There are people other than landlords who could benefit hugely from interest-only loans. I am concerned that in our blinkered desire to restore this country to economic sanity and encourage development and the creation of jobs, we could fall into the same trap into which we fell, eyes open, in the 1990s. Property became a type of god and the massive rises in house prices ruined our country. We must be very cautious to ensure that does not happen again. I am calling for a substantive debate on housing policies and options as early as possible in the new year.