I mí an Mheithimh 2024, scríobh an Tánaiste faoi mholadh cánach do thithe atá ag teastáil ó cheannaitheoirí céaduaire. Dúirt sé nach féidir cur suas leis agus thug sé gealltanas nach dtarlóidh seo arís, ach ar aghaidh go dtí i mbliana 2026 agus ceisteanna curtha air, dheimhnigh sé go raibh 293 teach bulc-cheannaithe díreach anuraidh ag creach-chistí agus tiarnaí talún corparáideacha. An nglacann an Tánaiste leis go bhfuil teipthe iomlán ar a pholasaí anois?
This week, the Government's damning failure in housing has been laid bare for all of us to see once again. Its choices are making it harder for working people to afford a home. Last night, the Government pushed through a Bill that will hike rents by up to €5,000 for 60,000 renters every year, a gift to big corporate landlords on behalf of Fine Gael and Fianna Fáil. This morning, we woke up to the news that there are no housing assistance payment, HAP, properties to rent in 16 different areas. These are right across the country, and include areas in Cork, Galway, Dublin, Athlone, Limerick and Waterford. I could go on. This is piling even more pressure onto those desperately seeking to put a roof over their heads.
That is before we come to the abysmal failure to stop vulture funds snapping up family homes. In June 2024, the Tánaiste wrote that the bulk purchasing of homes needed by first-time buyers cannot be tolerated. Those are his words, not mine. Two years on, those words ring hollow. Under questioning by me, the Tánaiste confirmed that 293 homes were bulk purchased last year alone by vulture funds. These were 293 homes and 293 opportunities lost to working people. There were 293 young people who had done everything right, saved for years and cut back, with some even moving back into their family homes to build up a deposit, only to find themselves outbid. Couples queued for hours and hours outside developments, lining up before dawn to secure a chance to bid on a first home, only for the vultures to swoop in, not with a mortgage application or savings scraped up year after year, but with institutional capital that no ordinary worker can compete with.
This happened and was tolerated under the Tánaiste's watch as Minister for Finance. He told the public the Government's policy would put a stop to this. We said it would not. The Tánaiste stood over that policy and defended it. He said it would deter bulk purchasing. It has not deterred it and it has not stopped it. It is still happening. Of the 293 homes purchased last year by vulture funds, 154 were bought in the last three months alone. This is happening right now under the Tánaiste's watch and the reason is simple: the Government's legislation is not working. It made a choice to leave the door open and vultures are swooping right through it. When the Tánaiste says that bulk purchasing cannot be tolerated, what exactly do those words mean? What we are seeing is not intolerance but permission for large investors to compete directly with first-time buyers and permission for a model where ordinary working people are told to save harder, wait longer and try again next year. Does the Tánaiste accept, in the face of the facts, that the Government's policy has failed? Does he accept that as long as these exemptions remain, first-time buyers will continue to be gazumped by vulture funds? Will he now act to keep the promise he made and ban vulture funds from snapping up family homes? He said the practice, in his words, could not be tolerated. Will he finally step up and deliver on that promise?