November 25, 2021
Government ignoring clear warnings that shared equity loan scheme will push up house prices – Pearse Doherty TD

Sinn Féin spokesperson on Finance, Pearse Doherty TD, has criticised the government for recklessly ignoring clear warnings that its shared equity loan scheme will push up house prices to the detriment of struggling home buyers.

This comes as the Central Bank today warned that the scheme could increase house prices while doing little to stimulate construction where it was needed.

Speaking this afternoon, Teachta Doherty said:

“Today the Central Bank gave a loud and clear warning that Darragh O’Brien’s shared equity loan scheme could pump up house prices even further.

“This comes after the ESRI, the Department of Housing and Secretary General of the Public Expenditure all also warned that it will push up prices.

“Despite the warnings, despite the evidence, this government is ploughing ahead with a scheme that will push home ownership further out of reach for the majority of struggling buyers.

“In research published today, the Central Bank warned that the scheme could increase house prices with little impact on the construction of new homes.

“This government is ignoring the evidence and pushing on regardless. Why?

“This scheme was designed and lobbied by property developers.

“It is a scheme that will boost their profit margins and dividends to shareholders, while locking in high prices for aspiring homeowners.

“How can the public trust the government to resolve the housing crisis they created by introducing such hare-brained schemes?

“House prices have increased by 82 percent in the past decade.

“This government wants to push prices even higher.” 

Follow us online

Latest Tweets

🌟 This is what our future looks like. Hundreds of children from schools across Belfast coming together to sing, dance, and play their instruments in our iconic Ulster Hall.

This generation deserves the earth, the moon, and the stars, and that is exactly what we must work to

Taoiseach must intervene to ensure Aer Lingus re-enter talks with IALPA – @Martin_Kenny

"It is vital now for negotiations to begin again so a resolution can be found. The government cannot stand idly by."

The Labour Party and Independents have chosen to prop up Fianna Fáil and Fine Gael in Local Councils all across the State. - @DaithiDoolan

MORE: https://vote.sinnfein.ie/a-vote-for-the-labour-was-a-vote-for-ff-fg-and-to-saddle-extra-costs-on-struggling-households-cllr-daithi-doolan/

Sinn Féin Leader @MaryLouMcDonald has extended her solidarity to Natasha O’Brien, adding: “Yesterday’s court judgement and others like it raise fundamental questions about how the government and the judicial system deal with violence against women.”

Load More