Sinn Féin spokesperson on Finance Pearse Doherty TD has said that the Summer Economic Statement lays out a budgetary framework that will fail to meet the needs of a recovering economy in Budget 2022 and which will not solve the housing crisis.

Teachta Doherty said:

“The Summer Economic Statement sets out a budgetary framework for next year that will fail to meet the needs of a recovering economy and which will not solve the housing crisis.

“Just €800 million in additional capital investment has been outlined, with no breakdown of where this money will be spent.

“This is at a time when the ESRI have called for a doubling of capital investment in housing to deliver up to 18,000 homes per year. That is what is needed to deliver homes for workers and families.

“The government have clearly failed to understand the scale of the crisis in housing. They just don’t get it. This is insufficient and underwhelming.

“The announcement that half a billion euros in tax cuts is on the cards is the wrong decision at the wrong time; particularly given that the scale of additional expenditure set out in respect of public services will not meet the demands of a recovering economy in areas such as health, education and childcare, as we emerge from the Covid-19 pandemic. Now is the time to invest.”