Eoin Ó Broin (Dublin Mid West, Sinn Fein) | Oireachtas source

Perhaps the members on the other side could just listen. There is €75 million for the shared equity scheme and that will be doubled with an extra €75 million from the banks. That is €150 million. The cost rental equity loan has funding of €35 million and only €50 million will be spent this year on the serviced sites fund. The Government will spend almost three times that on a provision to put money into the pockets of developers rather than delivering genuine affordable homes to rent or buy.

Deputy Duffy should understand that this is not meant to be a mortgage. This is on top of the Central Bank approved mortgage of 3.5 times salary so somebody must pay a full mortgage over 30 years and still have a debt of €100,000, €150,000 or €200,000. That is the inequity in all this. We have seen how the help-to-buy scheme increased house prices. Fianna Fáil extended it and it has increased house prices since. Worse still, 60% of the people who got it did not need it. This is not affordable housing but instead it is Fianna Fáil and Fine Gael doing what they always do in housing policy, which is putting money in the pockets of developers. Shame on all of the Government members.