I have made the case to the Taoiseach on countless occasions that the half measures he has introduced to rein in cuckoo funds are woefully inadequate and simply will not work.

Apartments, which are perfectly decent homes, are excluded from the Government's plans. This leaves ordinary workers and families, especially in Dublin but in other cities also, at the mercy of these funds that can snap up entire apartment blocks under the noses of people who wish to buy their own homes. Many others find themselves stuck in a never-ending rental trap, paying ridiculous, eye-wateringly high, unaffordable rents to these funds, which still pay no tax on their rental income. We saw this morning that another US fund, Greystar, is set to snap up 342 homes on Griffith Avenue in Dublin. It is a matter of great shame for the Government that speculators in the housing market, who are exploiting citizens in this State, can buy homes ahead of hard-working families. Not only that, these funds then charge workers and families sky-high rent and pay no tax on their rental income. None of that changes under the Government's so-called plan.

It is scandalous that these tax breaks remain in place, but the decision to grant another tax break to allow and encourage these same funds to buy up homes and then lease them back to local councils, costing well above what it would cost the State to build homes, is mind-boggling. It shows complete contempt for our citizens who cannot put a roof over their heads. It is also an absolute and disgraceful waste of taxpayers' money. The Taoiseach approves of speculators and developers filling their boots while ordinary workers and families are left to one side. Again, this morning, we saw that a fund called Alpha Real Capital is snapping up houses and apartments in Finglas, Tallaght and Blanchardstown. It will lease these properties back to the State for the next 25 years. Not alone that, this fund is not finished yet because it plans to buy €500 million worth of homes to be similarly leased back to councils over the next 36 months. This evening, the Government wants to incentivise this fund, and others, to do precisely that. That is what the Government proposes to legislate for tonight with a last-minute sneaky amendment, hijacking a Bill that is supposed to deal with the extension of much-needed supports to business, simply to placate its mates in the funds industry. The Government intends to guillotine that debate. This is utterly shameful.

The Taoiseach leads a Government that will not solve our problem. Its actions add to our housing crisis, make it worse and dig the hole deeper for workers, families and young people caught in this nightmare. An entire generation of people are at their wits' end, wondering if they will ever escape the rental trap and own their own home. The Government's actions do not help them one bit; it is the contrary. I ask the Taoiseach to stop this, take this disgraceful amendment off the table, ditch this plan and get back to the drawing board. Let us have a plan that will work.

It is important that the proper balance and perspective be considered in this debate. The Government took measures to rein in vulture funds, or cuckoo funds as the Deputy calls them, and funds in general, in terms of competing with first-time buyers and to stop the type of activity we saw in Maynooth, which was the bulk purchases of housing estates in competition with first-time buyers. Measures were taken on the planning side, and with the imposition of 10% stamp duty, to prevent that competition with first-time buyers so that they would have the opportunity to buy houses on estates such as these. When that announcement was made by the Ministers for Finance and Housing, Local Government and Heritage, they indicated in the Dáil debate at the time that the exemption would continue for leasing in respect of social housing. The reason for that is leasing has been a feature of social housing for quite some time now. I have a view on that and we will change it.

We are in a transition phase but the issue the Deputy must address, and she is nodding her head, is that 2,400 social housing units can be provided to families through this leasing right now. The tap cannot just be turned off immediately. We can move and transition to different models, which is what I want and which will be reflected in the Housing for All strategy, but is the Deputy saying that the 2,400 families who will avail of the social housing we will provide through this model this year should be left on the street or in unacceptable conditions? This mechanism is for families who are on housing lists. We are not talking about first-time buyers, but families who are on housing lists and urgently need accommodation. We all know how long the social housing lists are. We could turn off the tap immediately but, if we do so, 2,400 families will lose out. These are families who are on social housing lists so the Deputy needs to answer the question about what we do in the next number of months.

I am very clear that the focus of Government, without question, is on direct build to own, for social housing in particular. On affordable homes, the State is becoming involved to a significant degree in helping families, or people in general, to buy houses they can afford. Likewise, the cost-rental scheme, which is one of the first of its kind, will enable people to rent at significantly below market value. Only this week, the Government approved the Shanganagh housing project, for example, which is being developed by the Land Development Agency and is before Government at the moment. That project is for approximately 597 houses and includes direct-build social housing, affordable and cost rental. That is the type of action we want.

We need more houses. At the moment, we do not have enough supply. Covid hit us hard last year. In 2020, approximately 1,400 houses were provided through leasing, out of a total of 8,000 or 9,000 social houses built. Over the past number of years, there has been a move in this direction by local authorities. The Housing for All strategy will rebalance that significantly in line with our policy of predominantly directly building housing.

Family homelessness, for example, has come down 48%, which is quite significant. Some of the approaches to homelessness by some local authorities have been assisted by leasing. My view is that any model of leasing should be one where the State ends up owning the homes. There will be a move in that direction, but it is important when transitioning to new models that we do not let families who would benefit from social housing in the next number of months lose out. That seems to be what the Deputy is proposing.

Níl sé seo maith go leor. Níl plean an Taoisigh ag obair. Leanfaidh na cistí ar aghaidh leis seo agus tá sé sin náireach. These investment, vulture and cuckoo funds have not been reined in; far from it. The Government facilitates their actions. Not alone does the Government allow them to snap up entire apartment blocks and houses, it incentivises them by giving them a tax break for that behaviour. Do not try to pretend this will work in favour of people caught in the rental trap, or young people or families looking to get a foot on the property ladder and put a stable roof over their heads. No, it will not. It will not at all.

I did not say that.

This is about big bucks and big funds muscling into the property market with the assistance of the Government. Meanwhile, our citizens, families and communities are left with no real chance to ever buy or own their own homes. The most despicable part of this is that, tonight, the Government will sneakily move this through, using the guillotine, with virtually no debate. It is the same old same old, the same old Fianna Fáil and Fine Gael, the same old crisis and the same suffering for people who live outside the cosy little bubble of the Taoiseach and Tánaiste.

Arís, níl an fhírinne á insint ag an Teachta. Is léir sin agus aiféala atá i gceist aici. Deputy McDonald did not address the point I made. She is into sloganeering this morning because there is a by-election. She is into exploiting the housing issue for her own advancement and electoral advancement. On the ground, all she ever does is the same old Sinn Féin opposing this and that housing project, be it in Tallaght, Clondalkin or Fingal.

Not true.

It is opposing to win votes locally and to court popularity. That is the same old Sinn Féin I have been watching for the last two years. It ruthlessly exploits the housing problem for electoral advancement and is pretty poor at coming up with substance or solutions to the housing problem.

I asked Deputy McDonald about the 2,400 families that could benefit from social housing under this model, which from my perspective is not the ideal model, but we are in transition. I asked the Deputy about those 2,400 families and she ignored it because she is into sloganeering-----

Time is up Taoiseach.

-----the old rhetoric and the nonsense. I have no interest in any fund, none whatsoever. It does not bother me. The only issue I care about is getting people housed. To get people housed, we have to have all hands on deck.

The Government is failing and failing miserably.

We have to produce all forms of housing across the board.

The Government is failing miserably with its eyes wide open. It is shameful

We need direct build affordable cost rental. That is what we have to do. It is about time Sinn Féin came up with solutions and stopped attacking and providing no solutions.

A Punch and Judy show.

Can we behave and try to adhere to the rules of the House? I call Deputy Alan Kelly.