Derek McDowell (Labour)

I move:

That Seanad Éireann condemns the decision of this Government to abolish the first-time buyer's grant, in the light of the crisis in housing affordability and the continuing increase in housing waiting lists, and supports the call by the Irish Congress of Trade Unions to restore the grant forthwith.

The elimination of the grant is first and foremost a devastating blow to the aspirations, still held dear by so many people, of owning their own house. It means that thousands of people who had thought they were in a position to buy a house will either not be able to do so for the foreseeable future or, in some extreme cases, may not be able to do so at all. In doing what it did, in the way it did it, the Government has sent out a clear and unequivocal message to first-time buyers, particularly young people, that they are on their own and it does not care.

The way in which this was defended by the Minister for Finance has particularly stuck in the craw of so many people who were depending on this grant. To say as he did, so casually, that it is only €4,000 anyway, it does not amount to a great deal and was all being pocketed by the builder, demonstrates an insensitivity to the needs of young people which, unfortunately, is typical of him. The fact is that €4,000 is a great deal of money if you do not have a deposit. It is possible that over a period of 20 or 25 years it may add to the price of the house. However, 20 or 25 years is a very long period if your primary concern is with the here and now. It was the here and now which was of primary importance to most people looking to put together the €15,000 or €20,000 that most of them need for a deposit. In that context the €4,000 was extremely important.