Ruth Coppinger (Dublin West, Anti-Austerity Alliance)
Link to this: Individually | In context | Oireachtas source

The IPOA is represented in the Dáil at a level five times greater than is the case with the population. In the UK, the number of landlords - 2% of the population - is approximately half that which obtains here. We are expected to believe that it is dreadful if the number of private landlords in Ireland does not increase, but the opposite is the case and we have too many private landlords. Most got sucked in during the boom when they were told that their only way of making money was by investing in property. We now know that many people bought an apartment or a house or two for their old age or in order to profit from others.

The delegation mentioned the Central Bank's rules ruling out private investors. What is so bad about that? People privately investing or speculating on a place to live is horrible and has led to many of our problems. There is nothing good about it. I do not know how anyone could argue that there is anything good about people getting into property as an investment.

The IPOA is seeking the introduction of a raft of tax breaks for landlords to stop them exiting this totally unprofitable sector. On the statement that costs have increased by 24%, can the witnesses provide a breakdown in that regard? Leaving aside the property tax, which every property owner must pay, whether he or she owns one or ten properties, what other costs have increased the costs of IPOA members by one-quarter?

In regard to the reintroduction of the capital allowance scheme, surveys in Britain and Ireland of property related tax breaks indicate that they primarily benefit high earners and wealthy people who use them to reduce their tax liabilities and that that is their only affect. An Indecon survey carried out here in 2006 also reached that conclusion. I would welcome a response from the witnesses to those questions in light of what we are hearing from the IPOA every day on radio about what needs to be done.

The issue of bedsits, which was raised by the Chairman, was raised earlier this morning with Threshold. The figures indicate not that there is less private rental property available but that there is actually more private rental property available than heretofore.