Sinn Féin MEP for Ireland South, Kathleen Funchion, has called for an exemption in the EU Fiscal Rules to enable Ireland to make the necessary investment required to end the housing crisis.

Funchion was speaking in a debate on Employment Guidelines for Member States report, where the subject of housing featured heavily.

MEP Funchion said:

“I welcome this report and its key message that affordable housing is key to addressing social inequalities. It is my strongly held belief that a decent home is fundamental for every child to thrive, and for workers and families to prosper.

“In Ireland, ordinary people are burdened with sky-high house prices and rip-off rents and it’s important to remember that this did not happen by accident. This is the result of successive Irish governments and indeed the European institutions putting vested and financial interests ahead of workers and families.

“As legislators we must act. We must repeal the non-performing loans directive, which is a directive for vulture funds. We need to amend state aid rules and an exemption in the fiscal rules to enable us to invest in housing.”