Jack Chambers (Dublin West, Fianna Fail) | Oireachtas source

I thank Deputy Healy-Rae for his kind words at the start. I appreciate it.

Turning to address the points made by the Deputy, significant work is ongoing across government on the Housing for All plan. The Minister, Deputy O'Brien, is working on it. Action has been taken specifically concerning landlords. The Deputy will be aware that in the Finance Act 2023 a measure was introduced called the residential premises rental income relief. This is a tax relief for individual landlords of residential rental properties at a standard rate of 20% against private rented residential income of €3,000 in the 2024 tax year, and increasing to €5,000 in 2027. This equates to a tax credit of €600 in year one, €800 in year two and €1,000 in years three and four. This measure will have an estimated full-year cost of €160 million. Separately, there is an allowance for deductible expenses, which the Deputy will be aware of.

Separate from that measure, we have also tried to support tenants with a tax credit. In the context of budget 2025, we will have an overall tax package of €1.4 billion. Of this amount, I expect a significant portion of it to go towards helping workers who have rising wages and ensuring they are not levied with additional taxation as a result of these increases. These are the questions we must consider in the context of budget 2025. Providing for a very specific measure, such as that referred to by the Deputy, must be taken in the round in the context of increasing housing supply and how we will prioritise wider Government expenditure.

As the Minister, Deputy Donohoe, set out earlier, there is increased provision for housing next year and that trajectory is positive. Our focus, obviously, is on doing more around housing supply, not only around the direct involvement of the State but also in ensuring through the national planning framework, which is being reviewed and a draft was outlined this week, we can have increased targets in the context of increased targets.

We also want a supply within the private sector as well. There is a role that the State can play through direct funding, but there is also an important role for private capital in our housing market. We are clear about previous measures that have been taken to provide support for landlords, but also for tenants. It is a matter of striking that balance in the context of a very limited tax package for budget 2025.