Private rent index at all-time high, but subsidising big developers not the answer – Rock

Fine Gael Dublin North West General Election candidate Noel Rock today (Thursday) said that Minister Alan Kelly’s proposed solution to the housing situation isn’t the right approach

“This is a big subsidy to big developers and is effectively pilfering general taxation – paid by you and I – to prop up larger developers,” he stated.

“A far more sensible solution would be to simply reduce the levy which is imposed by each Council. This would mean general taxation isn’t squandered and given to developers, while the increase in the number of units being built would more than offset any reduction if applied correctly. In the aftermath of today’s figures, which reveal that private rents are at an all-time high, it’s clear that action needs to be taken. But the proposed action splashed across this morning’s Irish Independent is not the right approach.

“The crisis is clear across multiple levels: residential prices are surging, Generation Rent are being squeezed by huge rent increases, social housing demand far outstrips supply – and the underlying solution is clear no matter your politics: we need more supply of housing. This is the most pressing issue facing this Government.

“I am hopeful that Budget 2016 on Tuesday will offer clarity and certainty to the great many people out there who are feeling the pinch of a lack of supply of housing, be it through not being able to buy, getting priced out of rent or not being able to access suitable social housing. I don’t believe a handout to big developers would solve this situation, and believe a much more holistic solution is needed,” Councillor Rock concluded.