Sean Barrett (Independent) | Oireachtas source

I propose to raise two items on the cost of living. The Commission for Energy Regulation has reported that 20% of households cannot afford to pay their electricity bills. It is strange that this statement was made by the commission given that it continues to promote high-cost forms of electricity such as wind, biomass and turf and opposed the Ballylongford project which could have brought low-price gas into the country. The Green Paper on energy does not adequately address this issue or our consumer unfriendly energy policy. I ask the Leader to arrange a debate on the Green Paper.

The jump of 22% in Dublin house prices in 12 months is great news for the property sector and banks and so forth but horrendous news for first-time buyers whose incomes are in decline in real terms. The Government, against the advice of this side of the House, gave tax breaks to real estate investment trusts. We warned when this was done previously that tax breaks, when applied for too long, precipitate a boom. They have caused house prices to increase by 22% in one year. I note the Leader informed the House on Tuesday that the National Asset Management Agency has offered 5,237 units to local authorities, which will have accepted only slightly more than 1,000 or 20% of these by the end of the year. We must have a co-ordinated housing policy that is not based on banks and will not result in another generation being placed in debt as they seek to pay 22% more for a house than was paid last year. When a market is rising at a rate of 22% per annum, we must urgently address the appropriateness of any type of fiscal privilege for the property sector.