Peadar Tóibín (Meath West, Aontú) | Oireachtas source

I understand that some international capital will be needed for the housing market. However, the key point we are trying to make is that giving international capital a competitive advantage over home owners in the housing sector has the effect of displacing first-time buyers and families from the housing sector. It is clear that the international investors have competitive advantages, including in having deeper pockets and access to cheaper capital and they are paying less tax than the people they are competing with for these houses. If they are to function, surely functioning on a level playing field would be the logical conclusion to achieving the potential for international capital without displacement of people. Right now, this Government has allowed for a sweetheart deal for those organisations in this State. That has serious negative ramifications. Aontú has brought forward a Bill to repeal the tax advantages REITs have. It has passed First Stage and I encourage the Government to allow it to proceed to Second and Third Stages within this Dáil.

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