Pearse Doherty (Donegal, Sinn Fein) | Oireachtas source

The Minister is the master of the propaganda as I put hard facts to him. He has put money into the pockets of the 72% who have made claims under the help-to-buy scheme and they did not have a problem with the Central Bank rules. He states this is one of the primary reasons he introduced the scheme, but he does not want to deal with it - he wants to dismiss it - because he is wrong. He knows that it is flawed as the figures have come from the Revenue Commissioners. He makes the accusation that we are against young couples getting onto the property ladder. Is he off his rocker on this one? House prices are increasing by 10% per year. A house worth €400,000 will increase by €40,000 in the next year unless we do something about it. It is not just about the help-to-buy scheme; there is also the matter of supply and demand. Where there is constrained supply, the last thing one does is throw money at individuals in order that those who are selling houses put up the prices. It is having a knock-on effect within the market. Will the Minister ensure young couples will be able to get back onto the property ladder by stopping this scheme, as it is a contributory factor in the escalating house prices across the State? He has called my comments propaganda, but it is not just Sinn Féin who state this. We have heard similar statements from consultants, economists and even the IMF which is no friend of Sinn Féin. They tell us to be cautious and step carefully on this issue.

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