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

I move:

That Dáil Éireann:

notes that:

— the cost of housing is having a significant impact on people's standard of living;

— according to the Central Statistics Office, house prices have increased by 15 per cent in the last year and will soon surpass the Celtic Tiger peak;

— rents have doubled in a decade;

— rates of home ownership are falling fast;

— Ireland has some of the highest rents and house prices in the European Union; and

— the Government's decisions, policies and actions have increased these housing costs;

further notes that:

— last week, the Government announced its intention to gift €450 million to developers to subsidise the construction of apartments that will be sold at full market price;

— these public funds are to be spent without any cost-benefit analysis, independent cost evaluation or regulatory assessment;

— subsidies of up to €144,000 per apartment are proposed;

— according to the Housing Agency, these apartments will cost individuals up to €450,000 each; and

— this is exceptionally poor use of public funds; and

calls on the Government to:

— abandon their plans to gift €450 million to developers;

— use these funds instead for the construction of affordable purchase homes; and

— end all policy interventions that inflate costs and make housing more unaffordable.

I am sharing time with Deputies Cairns and Whitmore. I am profoundly disappointed that the Minister for Housing, Local Government and Heritage, Deputy Darragh O'Brien, has not turned up for this motion or sent a Minister of State from the Department. It shows the contempt the Minister has for our raising of these issues that he will not come into the House to hear us. He gave no notice about that.

What the Government proposes to do here is outrageous. It will gift €450 million of the hard-earned money of the public to developers. It is a hare-brained idea and a bonanza for developers. The Government wants to give up to €144,000 of public money per apartment to private developers.

It is good to see the Minister has arrived.

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