Sinn Féin would “add 10 years to housing crisis”, claims Senator

Fianna Fáil Senator and spokesperson on Housing, Mary Fitzpatrick, has claimed Sinn Féin’s Alternative Budget is “devastating news” for anyone is saving up to buy their own home.

The Dublin Central Senator said she found it “astonishing” that Sinn Féin’s plans include doubling the stamp duty on the purchase of new homes and the scrapping of the First Home and Help-to-Buy Schemes as well as the Vacant and Derelict Property Grant.

She said “these schemes are directly helping individuals and families get out of a rental trap and own their own home and get direct assistance to buy their own home.”

“The First Home Scheme sees the State provide up to €100,000 to first-time buyers and is available in conjunction with the Help-To-Buy refund administered by Revenue where new buyers can claim back up to €30,000 as a deposit towards the purchase of a new home.”

“That Sinn Féin want to deny to first-time buyers, it’s simple unfathomable,” she remarked.

The Senator claimed that Sinn Féin are “more interested in scoring political points than in policies to solve the housing crisis.”

Fitzpatrick also highlighted what she perceives as faults in Sinn Féin’s alternative budget.

“Sinn Féin have said they will deliver 3,700 additional social homes.  They have not explained how, where or when these homes will be delivered.  They have budgeted €929 million for these homes, meaning an average unit cost of €251,000. This is despite the Department of Housing providing information to the party that shows the average cost of a new build social home is €303,818, meaning there is a glaring €200 million hole in their finances that must be explained.”

“Eoin Ó Broin himself has also recognised that urgent action must be taken to stem the flow of landlords leaving the market. However, he has simultaneously proposed a €400 second home tax under his Alternative Budget that would apply to 770,000 homes, based on his own figures, thus applying to all small and accidental landlords. This is a clear example of the party’s contradictory and confusing policies towards small and accidental landlords.”

“The fact is their numbers don’t add up and a Sinn Féin Government would add ten years to the housing crisis.”