"How much of the €90 billion is represented by property abroad? - Gilmore

Posted on April 08, 2009 at 03:55 PM

Leaders' Questions today saw the Labour Leader demand that the Taoiseach explain exactly how much of the €90b development is related to property abroad.

He said: "There is one aspect of the Supplementary Budget Statement I wish to pursue with the Taoiseach. This is the plan by the Government to take all the property which represents their bad debts off the hands of developers - the half-finished apartments blocks we see everywhere, the empty hotels and office blocks and the land that was bought at exorbitant prices on borrowed money from the banks.

"This is represents the so-called bad debts we are talking about. Can the Taoiseach explain to the Irish people why the Government is buying up property abroad which was speculated upon by property developers here and abroad? How much of the €80 billion to €90 billion is represented by property abroad?

You can read the full exchange from this morning's proceedings on the Oireachtas website and the video shows Eamon's contribution.

Tagged with Finance • Budget