Mullen Park estate in Maynooth, Co. Kildare. Image: Eamonn Farrell/RollingNews.ie Mullen Park estate in Maynooth, Co. Kildare. Image: Eamonn Farrell/RollingNews.ie PROPOSALS AROUND CHANGING the tax treatment of institutional investors who purchase large sections of housing estates could be considered by government ministers as early as next week it seems.
Speaking in the Dáil this afternoon, Tánaiste Leo Varadkar that the government will take action on the issue “in the coming weeks”.O’Brien told this website that it will be an “all of government approach” which means his Fine Gael colleagues will have to get on board, and with taxation falling into the lap of the finance minister, it will be interesting to see what tax loopholes being availed of by these investment funds might be on the chopping board.
On Newstalk’s Pat Kenny radio programme the housing minister said the tax treatment of these funds is where things will be solved long term. Sinn Féin’s Pearse Doherty said that international funds buying up property in Ireland has been “happening for years” and that is has been “encouraged and incentivised” by government policy.
In response, Tánaiste Leo Varadkar said that both he and government “strongly believe in the concept of homeownership” and the buyout in Maynooth “is not consistent with government policy”. Social Democrats co-leader Róisín Shortall said that the government has “professed surprise” about global funds buying up homes when it’s been happening for some time.
Yes, we'll 'look at it' translation... we'll make a bit of a show but in a few weeks the public will be distracted by some other carrot dangled in their face then we can shelve that issue 🤪 got to keep our pals whom we're invested in happy 😉
We desperately need political change here.
In other words, he doesn't want peasants buying houses when his mates can rent them to the peasants instead.
I guess the gov can't invest in building houses because fellas like LeoVaradkar and MichealMartinTD made such a balls of national governance. And then they can waste 100s of mils yearly paying rent and hotel accom for homeless ppl. Bunch of 🤡🤡🤡
I can see the headlines now in a few years. Politicians have shares in off shore investment companies