Sinn Féin's Finance Spokesperson Pearse Doherty TD has hit out at Fine Gael over the current housing crisis, following a recent report from 'The Economist'.

The report points out house prices are highly inflated in comparison to incomes, with rent in Dublin among the six highest in global cities, alongside New York, London, and Tokyo.

Teachta Doherty said: "The recent report from 'The Economist' on housing in Ireland paints a picture that Irish citizens are all too familiar with..

"Bizarrely, today also sees the publication of an AIB report that has somehow found that international investors, encouraged by Fine Gael tax breaks, are doing Irish renters a favour by hoovering up available supply and charging at extortionate rates

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"This is a ludicrous suggestion. With 10,000 of our fellow citizens homeless, and a cost of living crisis sapping incomes, Irish people should not have to rely on the whims of millionaire developers around the world to live in a decent home at an affordable price.

"The Irish government have a responsibility to provide safe, affordable housing for people here. However, Fine Gael have created a double edged crisis in Irish housing.

"Over the course of almost a decade, in which they have refused to invest in housing and in Irish society, they have allowed supply to fall way behind what is needed. Furthermore, the supply that does become available is hoovered up by millionaire developers.

"In the coming Budget, they have a chance to change this. Sinn Féin believe renters are in dire need of emergency help from their government, and there must be real investment in public and affordable housing."

(CM/MH)