Sinn Féin has today launched the party’s housing plan as part of its alternative budget for 2022. The fully costed budget proposals will deliver 20,000 public homes a year, tackle rising rents, address housing inadequacy and inequality, fund a substantial defects redress scheme; and contribute towards our climate emission reductions targets.
Teachta Ó Broin said:
“Sinn Féin has the solutions to tackle the housing crisis. The Alternative Budget proposals we are launching contains both our budgetary proposals for 2022 and policy initiatives.
“The proposals are made against the backdrop of a number of challenges facing our housing system. These include; a chronic lack of secure, adequate, and affordable accommodation for those waiting for social housing and those who want to rent and buy; a slowdown of construction due to the closure of building sites last year and earlier this year; the significant rise in construction inflation due to Brexit and Covid 19; and need to meet our legally binding emissions reduction targets following the passing of the Climate Act.
“Our longstanding commitment to deliver 20,000 public homes remains the same. However, the way in which we will deliver these homes has changed significantly to consider these challenges.
“Our budget priorities include:
- More than a doubling of direct capital investment in public housing from the €1.4bn allocated in 2021 to just over €3bn in 2022
- 20,000 public homes in 2022. 12,000 social, 4,000 affordable cost rental and 4,000 affordable purchase homes.
- A refundable tax credit putting one month’s rent back into private renters’ pockets at a cost of €273m
- A €200m latent defects redress fund that would provide 100% redress for all homeowners who uncover defects in their homes
- measures to reduce and end homelessness
- measures to improve housing standards
- measures to ensure that new home deliver contributes to the climate emissions reduction targets
“Our proposals are fully costed, and we firmly believe that this is the scale of ambition and investment required to tackle the crisis in hand.