Seize Nama lands and start building

FOR some considerable time this newspaper has been advocating the necessity to use Nama’s landbank to build the houses that this country so desperately needs. Indeed, a leaked Government report on building costs identified very clearly that it is the cost of land that is so crucial to the viability, or non-viability, of such an undertaking.

There is much to be said, of course, for simply seizing the land from Nama – no ifs or buts. Just take the land required and get the building programme underway.

Even if Nama were to become builders themselves – bearing in mind that there is already an existing relationship with developers – this is an option that should not be entirely ruled out, once strict criteria are in place.

And while there is an argument, up to a point, for that approach, on balance, the preferred option would be to seize the land. Nama’s job, after all, was to deal with our toxic banks, something which requires a different skillset to what is now so essential. Ultimately, therefore, the argument that Nama lands should be seized remains the better option.

Whatever the specifics of the way forward, however, with the Taoiseach advocating, as he did yesterday, that Nama should be building houses, at least the Government has now got the message and things are moving in the right direction.

In order for the project to succeed, vested interests must not be permitted to exert any influence. It is critical that they are kept at arm’s length in this regard.

What is also vital is the establishment of a fast-track planning process. Time is of the essence here.

Essentially, however, the Government’s acknowledgment of the role that Nama can play is a significant step forward. The implementation of such a simple and sensible plan can only have a hugely positive impact on the lives of hundreds of thousands of people.

It’s there to be done. Let’s get on and do it.