Cian O'Callaghan TD

Housing Minister Darragh O’Brien must explain why he misled the Dáil regarding one of the central pillars of his new housing plan – the shared equity scheme.

The Minister previously informed the Dáil that the Central Bank had approved his scheme but we now know this is not the case, according to Social Democrats Housing Spokesperson Cian O’Callaghan.

“The Minister for Housing has misled people about his shared equity scheme. He claimed the Central Bank had approved this scheme – we now have confirmation this is not the case.

“On June 24th, the Minister told the Dáil that his proposed scheme been approved by the Central Bank. This claim was repeated by the Minister on RTE’s Prime Time earlier this month.

“However, the Central Bank has now revealed that the scheme’s potential interaction with mortgage rules is still under consideration and a spokesperson for Minister O’Brien has confirmed the scheme has not received “final approval” from the Central Bank.

“The Affordable Housing Act, which includes the shared equity scheme, was passed by a substantial majority in the Dáil after the Minister stated that the scheme had been approved by the Central Bank.

“As a matter of urgency, the Minister must make a statement in the Dáil on this latest fiasco and explain why he misled the House and the Irish people.”

15 September, 2021


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