Mairéad Farrell TD, Sinn Féin spokesperson on Further and Higher Education, has said that the new Minister O’Donovan who has replaced Simon Harris must now give a commitment to rule out further use of vulture funds to deliver more purpose built student accommodation.

Teachta Farrell warned that further use of vulture funds for the delivery of student accommodation is completely incompatible with any notion of affordability, and will only pour more fuel on the fire of the student accommodation crisis.

Teachta Farrell stated:

“The student accommodation crisis is causing misery for students and their families. It is a crisis that has only grown and grown on Fine Gael’s watch.

“Minister O’Donovan will be taking over from Simon Harris in this ministry. His record on student accommodation is a dismal one. The student accommodation crisis is a result of government action and inaction. Their actions have been to rely on large investment funds whose primary aim is to maximise rental yields, but to assume that this will deliver student accommodation at rates that are affordable.

“This has been a complete failure. On the other hand, their inaction in supporting universities to deliver their own student accommodation has meant that many shovel ready projects continue to gather dust.

“I note that the Taoiseach at the Fine Gael Ard Fheis at the week once again re-announced the same student beds which has already announced several times over. This is quite frankly laughable and he has rightly been confronted in the past about these re-heated announcements dressed up as new measures. I would certainly hope his successor does not engage in such poor practices.

“It’s time for a government that will deliver the change needed to end the student housing crisis. It’s time for a fresh government, with new people and new ideas. Housing would be the number one priority of a Sinn Féin government.”