Sinn Féin spokesperson on Finance and TD for Donegal, Pearse Doherty, has accused the Taoiseach of codding the public as vulture funds continue to snap up homes under the feet of struggling home buyers.

The Donegal TD was speaking after the Taoiseach called for a review into vulture funds bulk-buying properties – only four months after voting against Sinn Féin proposals to hike stamp duty on vulture funds to stamp out the practice.

Teachta Doherty said:

“Only four months ago, Simon Harris and his government voted against proposals by Sinn Féin to end the practice of vulture funds bulk-purchasing homes from under the noses of workers and families.

“Now, in the face of an election, the Taoiseach has said he wants a review of tax and planning measures to prevent this practice which he and his cabinet colleagues have allowed to happen.

“The Taoiseach is codding the electorate and taking them for fools.

“In 2021, the government belatedly moved to introduce a 10 percent stamp duty on the bulk-purchase of family homes by investment funds, which we in Sinn Féin warned was too low to act as an effective deterrent, and that has proved to be the case.

“Only last week, the Minister for Finance told me he has no plans to increase the rate of stamp duty that vulture funds are charged for buying up homes that should be available for workers and families.

“According to the CSO, over 4,200 homes were bought by investment funds in 2021 and 2022 alone, with the number of properties subject to the 10 percent stamp duty on bulk-purchases rising each year since it was introduced.

“Sinn Féin have been clear that we would stamp out this practice for good by hiking the rate of stamp duty.

“Only four months ago, the government decided to side with vulture funds instead of aspiring home-owners by voting against our proposals to hike the rate of stamp duty vulture funds are charged.

“The Taoiseach thinks that the electorate have short memories – they don’t.

“Simon Harris and his government have failed to support struggling homebuyers and instead sided with vulture funds at every turn.

“Only Sinn Féin can be trusted to stand up for homebuyers and stamp out the bulk purchase of homes by vulture funds.”