Sinn Féin has finally acknowledged that banks have "concerns" regarding their housing plan.

Public Expenditure Minister Paschal Donohoe urged the Opposition party today to clarify the specific issues with their housing proposals.

Speaking on RTÉ Radio One's This Week, SF leader Mary Lou McDonald admitted the banks have "issues" with their housing proposal.

Minister Donohoe said this development means the housing plans of Sinn Féin are simply not fit for the real world.

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"For years, Sinn Féin have told us they will have their own plans for easing the housing shortage. They finally unveiled them four weeks ago but didn't bother to tell us the banks have 'issues' with the proposals. Today, we learn direct from the party leader, that the banks have serious concerns.

"The banks haven't given any guarantee to Sinn Féin their plans will work and today’s news is extremely alarming. Sinn Féin have admitted they have problems with it. They don’t have that in the leaflets they are sending nationwide.

"Sinn Féin, Mary Lou McDonald and Eoin O’Broin now need to be honest with the public about the serious problems the banks have.

"What are they? Why haven't they admitted this before? And why didn’t they try to resolve this before launching their housing plans?"