Dáil debates

Wednesday, 11 May 2022

Ceisteanna - Questions

Cabinet Committees

1:22 pm

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

My question is about economic evaluation of the Government's housing policy. The Government is planning to give €450 million in subsidies to developers to build apartments. These subsidies will be up to €120,000 and, in some cases, as high as €144,000. Despite this huge public subsidy there will be no discounts in the sale price, no affordability built in and the apartments will be sold at the full market price. For a fraction of this cost the State could buy the land and make it available for affordable housing and affordable purchase homes to be built. Has any independent analysis of these proposals been carried out? Is the Taoiseach aware of any other country in the world where the government is gifting such large subsidies to private developers? Does this scheme guarantee a minimum level of profit of 15% for developers? Why is the Government implementing the developers' wish list instead of measures to increase housing affordability? Is the Taoiseach concerned about the huge influence of people lobbying for developers on the Government's housing policy? Why is the Government so intent on gifting public money and resources to private interests?


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