DARRAGH O'BRIEN TD
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News

FG spends €4bn on private rental market while capital investment lags behind

6/6/2018

 
                For every €1.00 invested into the private housing sector, just 85c
​                                  has been spent on long term housing needs
Fianna Fáil Spokesperson on Housing, Darragh O’Brien TD has said Fine Gael’s ongoing failure to prioritise capital investment in housing is unsustainable and is an approach that will take years to remedy or stabilise.

The Deputy was commenting having obtained information this week which reveals that the State has spent almost €4bn on private sector housing since Fine Gael has come into power.

Deputy O’Brien stated, “The data I have received indicates a major change in Government policy; a shift away from building homes and instead pouring taxpayers money into the private housing sector.

“It’s pretty stark to consider that €2.5bn has been spent since 2011 on providing rent supplement to private landlords across Ireland.

“To put this in context, prior to 2011 the State prioritised capital investment. In 2008, roughly €2.50 was put towards building homes for every €1 spent on short term housing supports. A total €1.5bn was spent on building housing units while providing HAP, RAS and rent supplement cost just €625m.

“This once prudent and sensible practice has been reversed under Fine Gael and the policy they have adopted will likely take years to catch up on.

“By injecting close to €1bn more into the private rental sector as opposed to properly investing long term capital over the past 7 years, Fine Gael evidently does not recognise the importance of sustainable capital investment. Their capital spending this year is already 30% behind 2008 levels.

“The forthcoming Budget must be one that puts housing first and which places an emphasis on building affordable homes up and down this country,” O’Brien concluded.

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Darragh O'Brien TD


Address

Darragh O'Brien TD
Leinster House
Kildare Street
Dublin 2

Telephone

T:  01-6183802

Email

At present, and as a result of the COVID-19 pandemic, I am not holding my regular meetings across our towns and villages in North County Dublin. However, both I and my office are happy to speak to you and assist you with any issues you may have.

For all housing, planning or heritage related queries please don’t hesitate to contact:
Email: minister@housing.gov.ie
Phone: 01-8882000
Postal address: Department of Housing, Local Government and Heritage, Custom House, Dublin 1, D01 W6X0
 
For all constituency related queries please don’t hesitate to contact:
Email: Darragh.obrien@oireachtas.ie
Phone: 01-6183802
Postal address: Dáil Éireann, Leinster House, Kildare Street, Dublin 2.
 



  • HOME
  • About Darragh
  • News
  • Parliamentary Questions
    • Housing, Planning & Local Government PQ's
    • School PQs
    • Foreign Affairs PQS
    • Oral Questions
  • Newsletters
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  • PHOTOS
  • FIANNA FAIL
  • CONTACT
  • DATA Protection Statement