Aidan Davitt (Fianna Fail) | Oireachtas source

I agree with some of the sentiments expressed by the previous speaker and, in particular, with the comments of our leader, Senator Ardagh. The Central Bank and its Governor are behind the curve in respect of first-time buyers in the context of giving them an opportunity to get on the property ladder by purchasing their own homes. For the 18 months since this regulation was introduced, it was well known by most people in the property industry that it was not going to be a help of any kind. I implore the Minister to stop playing with the blinds and to open the window for all those who have been denied the dream of owning their own homes. The cost of building a house is the number one problem. It is the main impediment to kick-starting a functioning housing market. I call on the Minister to immediately reduce the VAT rate on new builds for the interim. This would certainly allow us to tackles some aspects of the homelessness crisis and the low level of supply in the housing sector.