The Taoiseach will be aware that there are very significant intergenerational issues in respect of home ownership. Will he take measures to promote downsizing by people? In Ireland, 70% of us live in homes that are larger than our needs, which is more than double than in the rest of Europe. For people in my age bracket, 90% of us live in houses larger than our needs. That means that every year 2 million bedrooms are empty at a time there is a crisis. The reality is that if someone seeks to downsize, everything is stacked against that person. He or she will lose out if he or she releases money and then has to move into a nursing home as every penny of it will then be taken and the person will not get the relief that would apply. Few options are being developed for people who want to downsize by our councils or by our planners.

As to planning, if one wants to adapt one’s home to make it into two homes, it is very hostile to this. There is no favourable tax treatment, particularly for acquisitions. In short, we are locking people in to homes that are often larger than their needs.

I agree with the Deputy and I have pushed this point both with the Department of Housing, Local Government and Heritage, the Minister and other colleagues. Cork Corporation introduced a very good scheme two to three years ago and won a national award where it facilitated and incentivised downsizing for people who bought their houses from the corporation many years earlier. Time had moved on and in a deal with the corporation, a substantial number of residents downsized to apartments that are now provided by the corporation but the houses were released back into corporation stock for reletting.

There is enormous potential for voluntary downsizing and it should be incentivised across the board where people could voluntarily enter into agreements that would not disadvantage them if they engaged in a downsizing experience or initiative. The Deputy has summed up the issue. There needs to be a comprehensive approach to ensuring that there is a clear pathway that would facilitate people to downsize because it would free up spare housing stock that is not currently being utilised.