Dáil to debate motion on impac...


Dáil to debate motion on impact of investment funds on housing

Rebecca Noonan
Rebecca Noonan

07:09 11 May 2021

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Senior Ministers will be updated on proposals to curb the influence of property investment funds in Ireland at a meeting this morning.

Ministers Darragh O'Brien and Paschal Donohoe have been working on changes to planning and tax laws to stop investment funds buying up new housing estates.

While the formal proposals are not expected until later this week the Cabinet will be updated on progress this morning with the Taoiseach having said it's an immediate priority for his government.

This evening the Dáil will debate a motion by Sinn Féin on the impact of investment funds as political pressure mounts for Ministers to act.

Housing Spokesman Eoin Ó Broin explains his party's proposal.

"The quickest way to stop these funds from snapping up large numbers of homes from working people who want to buy them is to end the outrageous tax advantages that these funds avail of.

"They don't pay tax on rent roll, they don't pay capital gains, and they don't pay stamp duty.

"All that needs to change."

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