Cian O'Callaghan TD

Giving tax breaks to landlords is a wasteful measure that lacks any evidence base, according to Social Democrats TD Cian O’Callaghan.

Deputy O’Callaghan, who is the party’s housing spokesperson, said:

“Rents in Ireland are at record levels and continue to skyrocket. In the last year alone, rents have increased by over 10 per cent with the average rent in Ireland now a staggering €1,792 a month.

“Remarkably, the Government believe this situation merits tax breaks for landlords. Their rationale for this is based on the false narrative that landlords are leaving the market in droves.

“However, this is simply not the case. The latest census shows that the number of households in the private rented sector has grown by seven per cent since 2016.

“There is zero evidence to suggest these tax breaks will benefit anybody other than landlords who never intended to leave the sector.

“Not a single additional home will be built as a result of these reliefs. The Government should be focusing funding on helping the people who are struggling to pay some of the highest rents in Europe.

“The Renters’ Tax Credit should also be increased to cover a full month’s rent. This must be accompanied by a three-year rent freeze so that the tax relief is not immediately gobbled up by rent increases.”

October 10, 2023

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