Paddy Burke (Fine Gael) | Oireachtas source

I support the point made by Senator John O'Mahony about the vacant site tax. I agree with him that in some towns there are lands that could be developed. Unfortunately, there is an oversupply of houses. Therefore, if there are lands that should be or could be developed, no bank manager in his or her right mind would give funds to develop them, given the oversupply of houses. Where does one draw the line? Let us say there is an oversupply of houses in a town and they cannot be sold owing to a lack of demand. At the same time, the local authority will issue invoices for the collection of the vacant site tax. It is a chicken and egg scenario, one which will recur every year.