Sinn Féin has slammed the Summer Economic Statement and said it lays out a budgetary framework that will fail to meet the needs of a recovering economy in Budget 2022 and which will not solve the housing crisis.

Spokesperson on Finance Pearse Doherty TD said: "The Summer Economic Statement sets out a budgetary framework for next year that will fail to meet the needs of a recovering economy and which will not solve the housing crisis.

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"Just €800 million in additional capital investment has been outlined, with no breakdown of where this money will be spent.

"This is at a time when the ESRI have called for a doubling of capital investment in housing to deliver up to 18,000 homes per year. That is what is needed to deliver homes for workers and families.

"The government have clearly failed to understand the scale of the crisis in housing. They just don't get it. This is insufficient and underwhelming."