Victor Boyhan (Independent) | Oireachtas source

I thank the Minister of State for his reply. It is clear there is no intention of introducing municipal bonds. I have read extensively in a number of papers in the last few days. There is a lot of information on best practice in other jurisdictions. It is something we should look at. We have to be ambitious. We have ambitious public representatives in local authorities. We have ambitious chief executives in local authorities. The Minister of State knows from Kilkenny that there is no shortage of ambitious ideas coming up from the ground. I understand we have to operate within the fiscal rules and the Department of Housing, Local Government and Heritage ultimately has a role as does the Department of Finance. However, we can be more ambitious. We have to convince the people we represent in local communities that we can deliver greater infrastructure and develop a range of greater resources. However, they have to be financed. People are ready to commit to financing local authorities. People do not expect everything for nothing. They are not looking for a free ride.

Perhaps the Oireachtas Joint Committee on Housing, Planning and Local Government, of which I am a member, could look at the matter and work with the Department. Let us look at municipal bonds, how they work internationally and whether we can apply any aspect of that to our own situation in Ireland. I thank the Minister of State for coming in today.