Sinn Féin President Mary Lou McDonald TD has told Taoiseach Micheál Martin that investor funds snapping up family homes will be encouraged by the weak response from his government and his failure to take action to stop them.

Teachta McDonald stated that not only are Fianna Fáil and Fine Gael refusing to take action but “tonight they will line up to block Sinn Féin proposals to remove the tax advantages of investor funds along with a plan to cut rents and prevent rent hikes for three years.”

Teachta McDonald said:

“Two days in a row, instead of setting out what he proposes to do to put a stop to the gallop of these investor funds that are deepening the crisis, the Taoiseach reaches for bluff and buster. He has no plan.

“It shows that wealthy funds have nothing to fear from this government. In the face of such a weak response and rising rents, they will not think twice about spreading to cities across the state.

“We are in a housing crisis. What we need is a government that is prepared to lead. A government that is prepared to stop these funds snapping up family homes from under the noses of people who require secure, affordable accommodation. 

“They are enabled and facilitated in that by tax arrangements that Fianna Fáil and Fine Gael preside over and by their failure to deal with the issue of housing supply.

“What needs to be done is very clear. The government needs to legislate to these funds bulk-buying family homes and legislate to end the cushy tax arrangements they enjoy. 

“This isn’t rocket science, yet the Taoiseach and his government is kicking the can down the road, allowing these funds a free rein.”