Donegal TD says “damage done” in Help to Buy Scheme

Sinn Féin Finance spokesperson Pearse Doherty says he welcomed reports that the help to buy scheme is to be axed in the upcoming budget but said “the damage has already been done and can be seen in the dramatic increase in house prices”.
Deputy Doherty said reports that the final cost of the scheme could be as much as €80million are worrying given that the money spent on this scheme amounts to a direct transfer of money from taxpayers to developers.
Speaking today he said; “It is really disappointing that the government didn’t heed the warnings from Sinn Féin and others that the help to buy scheme would only serve to drive up house prices.
“While I welcome reports suggesting that this scheme is to be axed in the upcoming budget the reality is that the damage has already been done and can be seen in the dramatic increase in house prices. Ending this scheme is not going to undo the damage it has done.
“With this scheme Fine Gael, with the assistance of Fianna Fáil, have driven up house prices and have facilitated the transfer of millions of taxpayers money into the pockets of developers. Reports that the final cost of the scheme could be as high as €80million are quite worrying in that respect.
“What we need to see now is a real effort to tackle the supply and affordability issues. That must be led by major investment in building social housing,” he stated.