Cian O'Callaghan (Dublin Bay North, Social Democrats) | Oireachtas source

The Green Party in government is supporting a model of cost rental that involves profit returns for investment funds. That is what is happening. Last night, the Government voted to provide tax exemptions for cuckoo funds to buy up homes. In addition to these tax exemptions, the State is incentivising the bulk buying of homes by investment funds by copper-fastening guarantees of rental income for 25 years. The Institute of Professional Auctioneers and Valuers has said the State should be seeking 50% discounts on market rents when agreeing any long-term leases. Instead, the State is paying almost the full market rent and agreeing discounts of as little as 10% or even 5%. Why is the Government paying out almost double the recommended rate and when will it end these sweetheart deals with investment funds?

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