Alice-Mary Higgins (Independent) | Oireachtas source

I accept 40 years is better than 50 years. I still believe the State should aim for cathedral thinking, in which we look to long-term thinking. It is one of the great prerogatives and opportunities we have as a State and it makes many things possible. I regret to see the amendment previously put by Senator Moynihan, which related to this issue, is not resubmitted at this point. I hope it might emerge again in the Dáil.

It stated that while 40 years may be fine in general, when it comes to situations in which grants have been provided for the creation of cost rental or when public land has been used in respect of cost rental dwellings, 40 years is inadequate. We should be looking to a 90-year or an unlimited period of time. It would be regrettable if we were to have public money subsidising things for a period of just 40 years, which then may migrate back into the market. At that point, we are subsidising investment, rather than having the returns.

Some 40 years may be reasonable as a general point, but in those situations in which the land or funding is provided by the State, we need to have a different timeframe and look to ensure the long-term benefits and social dividend from investment in cost rental returns to the State, albeit through an approved housing body or local authority. That is a fundamental point.

We will have a couple of amendments which come at that later, when I talk about reverting to public land ownership. I wanted to signal that and try to bring it up. As the Minister of State has appropriately taken on board Senator Moynihan's point in the generality, by moving from 30 to 40 years, I hope in those specific circumstances, the Government will look to a longer period of time. I hope the Labour Party reintroduces those amendments in the Dáil or that the Government brings its own version of them to recognise cathedral thinking. I keep using cathedral thinking, but that is what we need to think of, in that the 100- or 200-year vision is reflected where there is substantial public investment.