Sinn Féin spokesperson on Housing spokesperson, Eoin Ó Broin TD, has said that, without a ban on rent increases, the renters tax credit will go straight into landlords’ pockets.

The Dublin Mid-West TD’s comments were made in response to news that the government intends to increase the renters tax credit to €1000.

Teachta Ó Broin said:

“For years, Sinn Féin’s calls for a refundable tax credit to put a month’s rent back into every private renter’s pocket, coupled with a ban on rent increases, was ignored by Fianna Fáil and Fine Gael.

“When they belatedly did introduce a tax credit, it was too little and not refundable. It was also not combined with a ban on rent increases.

“The result was that the modest credit was swallowed up by rent hikes, which, year on year, have been in excess of the value of the credit.

“Without a ban on rent increases, the renters tax credit will go straight into landlords’ pockets.

“I am also concerned with the low take-up of the government’s tax credit.

“In government, Sinn Féin would introduce a fully refundable renters tax credit to reduce the cost of renting by a full month, with no payment below €1000 and a cap of €2000.

“We would also ban rent increases for existing and new tenants to ensure they get the benefit of the credit.

“We would also ensure that, both through the RTB and social media, the tax credit would be properly advertised so that all those eligible would avail of it.”