Pearse Doherty (Donegal, Sinn Fein) | Oireachtas source

I thank the Minister for putting the correct information on the record of the House regarding the power to vary rates, which is the appropriate position in order that we do not have to revisit primary legislation. It is welcome that that is the case and that the position has been clarified.

The help-to-buy scheme is a part of it, but this goes to the core of Government housing policy. The Minister has told us about all the various supports and the funding that is available but the reality is that unlike Deputy Mairéad Farrell, this is not my first finance Bill. I think it is my 11th or 12th finance Bill,, if we include an emergency finance Bill. Most of them were under Fine Gael Ministers, and nearly half of them were introduced by the Minister for Finance, Deputy Donohoe. The reality is that when we look at housing, as a result of the initiatives that have been introduced in budget after budget, we have a crisis in housing not over the past 12 months alone but in recent years. Are house prices spiralling out of control? Yes, they are. Is it just the Opposition that is saying this measure is pushing up house prices? No, it is not. The Minister should listen to the ESRI and other independent reports. Do 40% of those who are going to get €30,000 of taxpayers' money need it to buy a house? No, they do not. That is not me saying this. They are indisputable facts. That is why, at the very least, the Minister should be considering an independent report on the economic and distributional impact of the scheme. At the very core of the issue is the flawed housing policy of Fine Gael. At a time of great lack of availability, the party introduced a measure that is only about increasing demand, which is then, unfortunately, going to push up house prices.

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