Construction News

21/09/2016

Minister For Finance Criticised Over New First Time Home Buyer Proposals

The Minister for Finance has been criticised over proposals to introduce new incentives to first time home buyers in Ireland.

The Green Party claims Minister Michael Noonan has "forgotten all the lessons of the last boom and bust period".

Party Leader Eamon Ryan said: "Minister Michael Noonan says promoting demand will encourage new supply but he seems to have forgotten all the lessons of the last boom and bust period. These incentives are likely to lead to higher prices and profits for developers rather than helping people get onto the property ladder.

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"We all want to help the young people get a home of their own, but the best way to do that is for the state to start building social housing and to put a site value tax in place so that developers have a real incentive to start building and increase supply."

(CD/MH)

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