I propose to take Questions Nos. 300 and 305 together.
I am satisfied with the operation of the shared ownership scheme and with the revised income and subsidy limits introduced during the summer. Having said that, my Department has requested authorities to actively promote the scheme and recently reminded them that they should facilitate applicants wishing to purchase apartments.
The success of the scheme can be seen from the increased activity levels achieved in recent years. In 1998 some 805 transactions were completed under the scheme. In 1999 this rose to 1,314 and indications suggest a further increased level of transactions. The operation and management of the scheme is, in the first instance, a matter for the relevant local authority. In operating the scheme, authorities should have regard to local circumstances and, therefore, maximum price limits and other details are best determined by them.
In the case of Fingal County Council, I understand that a policy decision was taken to limit the maximum price for shared ownership properties to £90,000 with a view to limiting, as far as possible, house price increases. They are keeping this limit under review. I would also point out that that council is currently building houses under the scheme at a number of locations in the county, a number of which have already been sold under this limit.
I have no proposals to modify the scheme at this stage but its operation will continue to be kept under review.
