A PETITION SIGNED by greater than 25,000 people calling for the government to scrap tax breaks for cuckoo funds, construct public properties, strengthening tenant rights, and put the precise to a house within the structure has been delivered to Cabinet.
Housing Minister Darragh O’Brien and Finance Minister Paschal Donohoe are due to convey proposals to Cabinet this morning to forestall the majority buy of housing estates by funding funds.
O’Brien is to temporary ministers on proposals to difficulty a round to native authorities banning them from granting planning for developments of homes and duplexes which could possibly be offered in bulk to funding funds. He will even suggest ring-fencing a proportion of recent developments for first-time patrons and different purchasers.
Donohoe will temporary colleagues on taxation plans which can see funding funds charged stamp responsibility on sure residential purchases.
The petition calls for the next:
- Scrap investor tax breaks – scrap REIT tax
- Impose investor tax of fifty% on earnings
- Restrict sale of recent developments to particular person house patrons & not for earnings
- Build public & inexpensive properties on large state lands
- Right to housing in our Constitution
- Remove landlords means to evict tenants for sale and no-fault evictions
The petition additionally notes that different measures might curb the funds and assist make housing inexpensive together with a vacant and derelict properties tax, doubling the capital spend on constructing public and inexpensive properties, implementing a lease freeze on new and present properties, and lease affordability measures.
The petition was began by Dr Rory Hearne, Assistant Professor at Maynooth University. Writing in The Journal earlier this month, the housing skilled has stated the investor takeover of properties isn’t any accident – it’s government policy.
Speaking this morning, Hearne stated: “As the Cabinet is about to meet to talk about the problems of traders shopping for up properties, they have to realise that the general public is opposed to elevated function of cuckoo fund traders shopping for up properties, not simply housing estates in commuter belts, homes and residences are properties, after which renting them out at unaffordable rents.
“First-time buyers, people looking to buy a home, and people seeking to rent an affordable home, and local authorities and AHBs looking to buy social housing are all negatively affected by these real estate investor funds buying up houses and apartments.”
‘Anger and frustration’
Emily Duffy, Deputy Director of marketing campaign group Uplift who supported the petition, stated the response displays people’s “anger and frustration”.
“My era have been advised that we might both depart Ireland or settle for a horrible high quality of lifetime of unaffordable housing, insecure jobs and underfunded major healthcare.
“Now, as many of us look to put down roots, we are once again being told that there is no room in Ireland for us – while Fine Gael and Fianna Fáil continue to support the interests of corporate investors and landlords over that of ordinary people who want to have a secure home and a stable community,” Duffy stated.
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“The petition is a clear demand that the Government must implement meaningful and effective and immediate measures to stop the real estate funds,” she added.