Social Democrats Housing spokesperson and Dublin Bay North TD, Cian O’Callaghan, has warned that the measures announced by the Government in today’s budget will not make housing more affordable.

Deputy O’Callaghan said:

“Today’s budget fails to deliver affordable housing as it lacks the ambition that is required. The Government should be taking advantage of the historically low interest rates by borrowing to directly build thousands of affordable homes. The budget includes funding for just 400 cost rental homes.

“The Shared Equity Scheme was inspired by property developers who lobbied the Minister to have it included in today’s budget. This scheme will keep prices inflated, much to developers’ delight.

“Overall, today’s budget is a continuation of the failed housing policies of the past. It provides more subsidies for developers and extends tax breaks for big funds. We need a change of direction.

“Now is the time for an ambitious programme of affordable housing that provides everyone with a place to call home.

“We need to build more housing that is affordable to buy or rent on public land, cut construction costs, introduce fairness for renters and end homelessness. Today’s budget fails on all four fronts.”

October 13, 2020

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