David Cullinane (Waterford, Sinn Fein) | Oireachtas source

Consider the many debates we have had in this Chamber about vulture funds swooping in and buying up homes, in some cases buying up housing estates and in some cases apartment blocks. We have had debates like this and the Ministers across the Chamber shrugged their shoulders, saying, "What can we do?". Today the Minister has an opportunity to do something and again this week the Government simply increased the stamp duty from 10% to 15%. What planet is the Minister living on? These vulture funds are coming in and buying up homes that people need for their families. After buying up those homes, they are then charging extortionate rents. Like others, we want a 100% tax. This should have been done to end the scandalous practice of these vulture funds coming in and buying up homes that should be available for people who need them. The next time we have a debate in this House on the issue, and no doubt we will have more and certainly during the election campaign we will have a debate, the Minister and his party, and Fianna Fáil and Fine Gael, will have to account for the fact that they have failed to take on the vulture funds and they have failed to protect people who want to own their own homes. They have failed on housing anyway in terms of all the targets they set and they have failed to deliver affordable homes. One of the key problems is vulture funds swooping in and buying those homes from under the feet of families who want to purchase their homes. The Government had an opportunity to do something substantial today and as usual this week the Government has failed.

See this speech in context