On a point of order-----

The Ceann Comhairle mentioned that this was a debate. This is not a debate or an engagement if the Tánaiste refuses to answer. It is not a debate.

Mortgage holders are facing interest rates of more than 7%. Some households pay thousands of euro more in interest to the banks and the vulture funds. For more than a year, Sinn Féin has been calling for the introduction of mortgage interest relief to support them. The mortgage interest tax credit the Government introduced is simply not working. Of the 700,000 mortgage holders in the State, fewer than 15,000 households have received the credit. So far, 90% of the money allocated has not been drawn down and hundreds…

Answer the question.

What is the point of me turning up here? What is the point of turning up if the Tánaiste is not going to answer the questions?

I am asking about the Department of Social Protection.

What is the point?

Hear, hear.

Hear, hear.

Hear, hear.

Deputy Nash outlined the substance of his amendment. My amendment is very similar. It relates to the investment strategy under the Future Ireland Fund and would provide a focus for the investment strategy with respect to the Future Ireland Fund towards domestic investment in the State. As I outlined on Committee Stage and Second Stage, I believe the establishment of funds is appropriate. However, I have serious concerns regarding this legislation, as it is far too rigid and provides stipulations regarding the level…

I made the point that there may be a slightly lower return from domestic investment than from international investment. The NTMA will feel it has to get the most competitive returns available, even though there is an opportunity cost lost. Amendment No. 2 does not direct it to invest in the domestic economic development or sectors such as housing, infrastructure, energy and water. It states that the fund should "have regard to the promotion of", which, in my view, would give it additional flexibility whereby even t…

I move amendment No. 2: In page 8, between lines 15 and 16, to insert the following: “(3) Without prejudice to the generality of subsection (1) , the Future Ireland Fund investment strategy shall have regard to the promotion of the economic development and stability of the State, across sectors including but not limited to housing, infrastructure, energy and water.”.

I move amendment No. 3: In page 12, between lines 16 and 17, to insert the following: “ “designated housing project” has the meaning assigned to it by section 21 ;”. I will speak to all of the grouped amendments. These amendments relate to the infrastructure, climate and nature fund and under the legislation, €2 billion will be contributed to the fund each year until 2030. It provides that the fund can be drawn down to support State expenditure in 2026 or afterwards, where there is judged to be a significant deteri…

Hear, hear.

I say this often, but Deputy Gould is 100% right. Earlier, I said the reason the Government is getting the Bill so wrong is it does not understand what is happening in the housing crisis. Deputy Gould put to the Minister what is happening on his doorstep and he seems to think everything is okay. It is far from okay. Deputy Gould also mentioned the statistics released today. What is the median cost of buying a house in Carrigaline? It is €393,000, which means that half of the houses sold are in excess of that. The c…

When Deputy Gould referred to price increases in the Minister's community, he challenged him. House prices in the Minister's community have increased by 50%. There has been an increase of €130,000 for an existing home in the Minister's community, a fact he ignored. He said the Government is delivering affordable and cost-rental housing. The Government has missed every single target for affordable and cost-rental housing since it came into office. That is a blatant fact. There is no disputing it. Sin é; deireadh an …

I move amendment No. 4: In page 12, line 26, to delete “designated environmental projects” and substitute “designated environmental projects or designated housing projects”.

I move amendment No. 5: In page 16, between lines 24 and 25, to insert the following: "Designated housing projects 21. The Minister for Housing, Local Government and Heritage may designate in writing a housing project (in this Part referred to as a "designated housing project") where he or she is satisfied that the project contributes directly or indirectly, or is likely to contribute, to the provision of social or affordable housing.".

I move amendment No. 7: In page 19, between lines 15 and 16, to insert the following: "(b) housing and infrastructure deficits,".