Micheál Martin (Cork South Central, Fianna Fail) | Oireachtas source

I propose to take Questions Nos. 18 to 20, inclusive, together.

Housing for All is the most ambitious housing plan in the history of our State and contains actions to ensure over 300,000 new homes are built by 2030, along with delivering fundamental reform of our housing system. The target to 2030 includes 90,000 social homes, 36,000 affordable purchase homes and 18,000 cost-rental homes. The plan is backed by the highest ever State investment in housing and it is beginning to have a significant impact.

Despite the sustained inflationary pressures as a result of the war in Ukraine and other external factors, there are still strong signs of momentum in housing delivery. The second quarter of this year saw the highest level of home completions in over a decade and we are confident that the target for delivery of 24,600 homes in 2022 will be met. Between April and June this year, planning permission was granted for 11,374 new homes. In the 12 months to the end of June, more than 54,000 new homes had been either built or commenced. Last year, 9,183 social homes were provided.

This Government's commitment to delivering increased housing supply was further evidenced last week in budget 2023. We have committed a record €4.5 billion in public funding next year for the provision of more social, affordable and cost-rental homes. A sum of €1.3 billion will be invested in supporting an overall package of measures to deliver more affordable housing, including 5,550 households supported to buy or rent at an affordable price. Housing for All has brought certainty for the many stakeholders involved in the delivery of housing in our country, despite the impact of the invasion of Ukraine. Since its launch over a year ago, we have introduced a wide range of initiatives including the First Home scheme, Project Tosaigh and Croí Cónaithe.

Budget 2023 extended the help-to-buy scheme to the end of 2024 to further support first-time buyers of new homes. It also introduced a rent tax credit to support taxpayers who are paying rent on their principal private residence, and a vacant homes tax. A wide range of other initiatives are under way, including a major overhaul of the planning process, a new land value sharing mechanism, promotion of innovation and productivity in housing construction and increased apprenticeships and overseas recruitment. All these reforms and measures will assist with the supply of housing and fundamentally reform the housing system in the country.

When the plan was published, it included a provision to review and update the actions annually to respond to any changes or emerging challenges. This review is now almost complete. It does not seek to change the fundamental policy direction, but allows us to respond to the significant challenges which have emerged since the plan was published, most notably the ongoing inflationary pressures. The review is focused on measures to activate and accelerate supply and will be considered by the Cabinet committee on housing at its next meeting on 10 October. The updated action plan will be published alongside the third quarter progress report in the coming weeks.

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