Paul McAuliffe (Dublin North West, Fianna Fail) | Oireachtas source

We have strayed a little beyond the renters' credit into the general housing issue. The Opposition continuously tries to promote this idea that the Government is out of ideas. This week I met approved housing bodies and local authorities and both reported that they cannot keep up with the ideas that are emanating from the Department and the Minister. I will not bore the House by listing all the initiatives. Why are they there? It is because we accept that rents and house prices are too high, that after a decade of under-supply, we want to change it and take steps to ensure that prices are more affordable. How can we do that? It is with long-term supply and short-term measures.

I will tackle a number of things that were said. This is why we need the report. The Opposition stated that this money will go straight into the landlords' pockets. Let us look at the numbers. On a rent of €1,500 for a couple, the maximum possible rent increase at 2% is €360 for a year - I hope I have my figures correct - yet, the renter's credit for that couple is €1,500, which is multiples of the amount they can possibly be charged in an increase. This tax credit will have a direct benefit for those people's households. It will ensure they have more money this year than they did last year, even with a rent increase that is below the rate of inflation. That is exactly why we need the report so that tropes being thrown out by the Opposition can be countered and we can say exactly where this money is going.

I ask people to look at all the new schemes that are available because, despite Sinn Féin saying it is impossible, this week a couple who came to my clinic were able to avail of the local authority home loan and identify a home in the area to purchase using that scheme. It was transformative for them. It is having an impact.

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