Seanad debates

Monday, 12 July 2021

Land Development Agency Bill 2021: Committee Stage

 

9:30 am

Photo of Alice-Mary HigginsAlice-Mary Higgins (Independent) | Oireachtas source

There is that possibility, as the commission has sought numerous extensions. That is one of the concerns because everybody wants to see a sea change in the relationship between the State and investors, including speculative property dynamics. It is a concern to many people that many of those whose risk-taking drove the State into great risk and debt and, indeed, into the crash in 2008, seem to have emerged very successfully from it, while in many cases the public has lost out in terms of opportunities. There is a concern and a hunger for transparency around NAMA. I was hoping my amendment might have the double benefit of encouraging the final publication of that report on NAMA, which is very overdue, as well as, crucially, giving us the learning from it.

I will not speak further because others will come to it, but many of the concerns about the suite of measures being put forward at the moment are about the fact that there is still a relationship with investment funds and speculative dynamics. That is why we need to be extra careful to structure this as well as possible. I understand the Minister cannot accept the amendment.

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