McCreevy Favours Speculators over First Time Buyers

by Graham Caswell - Green Party Fri Jan 24, 2003 17:33 caswell at indigo dot ie

The government increased tax breaks to investors six months before the last election and it didn't want house prices to fall before the election since more voters own houses than don't. First time buyers were sacrificed.

These tax breaks are not designed to promote the construction of new rental units. Instead they are used to buy up the existing housing stock and compete directly with those thrying to own their own home.

The result is that Irish society is splitting into those who own several houses and those who own none and are forced to pay the handsome returns to the 'investors'.

To encourage speculation in food during a time of famine would be unconscionable. To encourage speculation in water during a drought or medicine during a time of sickness would be clearly seen as immoral. Why is this government encouraging speculation in homes during a housing crisis?

by Eamonn Crudden Fri Jan 24, 2003 20:29

We used to blame it on the english.

Also Rent Supplement Payments to those unemployed/single mothers/those on very low income living in private rented accommodation are passed on (from taxpayers via Health Boards) to the same speculators without any effort being made to ensure they are paying tax on their rental properties.

This fundamentally represents the ongoing privatisation of public housing and unites the FF pols, Higher income professionals, FG, Guards, prison officers and even Labour and the Greens in a community of common interest.

I always think it is important in an Irish context when discussing this issue to keep in mind that it was political activity and civil disobedience centred around housing issues that sparked off the civil rights movement in the 6 counties in the late 1960's - which in turn led on to 'the troubles'.