The Government has been called to develop more affordable homes for sale or rent.

Labour spokesperson on housing Jan O'Sullivan made the call and said plans announced by the Government today, 22 January, did not go far enough to address the housing crisis.

She said: "The Government has rebranded the local authority loan scheme where people could already get loans up to €200,000 once they had a single income of less than €50,000 or joint income of less than €75,000. What has now changed is the amount people can borrow is being increased, and that the rate of interest can be fixed for the life of the loan.

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"While this change is welcome and long overdue, people can't buy affordable homes that don't exist.

"The new Affordable Purchase Scheme does not have the structural supports required to ensure enough homes will be built. It is clear the private housing market has failed to deliver and more proactive State intervention is required.

"The Labour Party has consistently argued for NAMA to be turned into a financer, and direct builder and provider of affordable housing for sale or rent, using the expertise already in situ there, and in the Housing Agency and Housing Finance Agency."

(CD/LM)