Frances Fitzgerald (Dublin Mid West, Fine Gael) | Oireachtas source

The only interest that the Minister and the Government have in respect of this issue is to ensure that we provide a stable and balanced rental market. We want to do that so that we can look after tenants so that they have certainty and to ensure that there is supply. That is what is needed. Stereotyping the response the Government is making to this issue does not get us anywhere. We all have to work together to ensure that we deal with the issue. We have to ensure there is supply. There is no point taking actions that will reduce supply. We want to increase supply and ensure it is maintained. The approach of the Minister has been to do that. What will happen now for tenants is that instead of facing increases of 15% or 20%, these will be limited to a maximum of 4% in the coming years.

As already stated, the reason we have taken this approach is for stability in the market so that tenants can rely on the homes that they are in, that they can manage the increases, that they will not be the kind of increases that we have seen in recent years and that landlords will continue to make homes available to rent. That latter point is important as well. There is no point denying this and saying that we do not want to see people continuing to invest and making homes available to rent. That is important.

We, as a Government, are supporting social housing. There are billions of euro extra going into social housing. We are seeking to increase the supply of social housing by investing €5 billion, we are ensuring, by means of a fund of €200 million, that local authorities can support the development of private housing and we are dealing with a challenging homelessness situation. It is a combination of all of these actions that will stabilise the housing market. As a result of the fact that the economy is improving, we are in a position to do as I have outlined. That is the approach the Government has taken. The description Deputy McDonald has given in respect of these initiatives is inaccurate and stereotypical. It does not deal with the reality of the actions that are needed in order to provide the stability people need.

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