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Micheál Martin Alamy Stock Photo

Fianna Fáil pledges to 'at a minimum' double the Renters' Tax Credit in the next government

Under Fianna Fáil’s plans, the tax credit could be boosted to at least €2,000.

FIANNA FÁIL WILL “at a minimum” double the Rent Tax Credit, expand the First Home Scheme, and look at increasing the Help-to-Buy grant to get money into the hands of people who are renting or buying homes. 

In a wide-ranging interview with The Journal, Tánaiste and Fianna Fáil leader Micheál Martin outlined some of his party’s housing priorities as the general election approaches.

Under Fianna Fáil’s plan, the Rent Tax Credit would be boosted to at least €2,000 per person, after already increasing in October’s Budget to €1,000.  

Speaking to The Journal about Fianna Fáil’s housing manifesto pledges, which will be published next week, Martin said that people need to have some financial pressure alleviated and the tax credit would help. He said: 

At a minimum, we would like to double it in the next government.

When asked about the Help-to-Buy grant, which offers a tax rebate of up to €30,000 to people looking to buy new builds, Martin said “it may have to be increased”. 

“We can look at that, but I think it’s quite generous as it is,” he said, adding the next government can look at the scheme on an ongoing basis. 

Help-to-Buy

He criticised Sinn Féin’s plans to scrap the grant, stating that people want to know that it will be available to them over the next number of years so they can plan accordingly.

Sinn Féin’s plan to get rid of it will “crucify first-time buyers, in my view, and so would getting rid of First Home Scheme”. 

The Fianna Fáil leader said that the manifesto will also have details on the expansion of the First Home Scheme to second-hand homes.

The First Home Scheme is a shared equity scheme for first-time buyers that involves the government and participating banks paying up to 30% of the cost of the home in exchange for a stake in it, which can later be bought back by the home buyer.

Currently, the scheme is only available to first-time buyers who are purchasing a newly-built property or building their own.

“We do believe the First Home Scheme should be extended to second hand homes, particularly in areas of the city here in Dublin or in other cities – the traditional areas where families lived – to enable people to have some chance of buying homes in areas where no new houses are being built,” he said.  

When asked if such a move could result in an increase in house prices, Martin said the Central Bank’s figures indicate that the impact of both Help-to-Buy and the First Home  Scheme have not been significant in terms of house price inflation.

Last month, a financial stability note from the Central Bank found that average users of the Help-to-Buy scheme tended to be higher-income borrowers who purchased larger, more expensive home, but didn’t look into the effect the scheme has had on house prices. 

In terms of Rent Pressure Zones, which cap rent increases at 2% per year, Martin said they need to be looked at in future to ensure they’re still working, but they do have a role to play. 

“They will be reviewed, but I think they have succeeded in keeping the prices of existing rents capped at that level. Not new ones, but certainly existing ones,” he said.  

Martin said supply is the key issue, stating that more houses need to be built fast. 

“I think we have brought about huge change in housing, but not enough in terms of what we have to do,” he said, acknowledging that building 60,000 houses by the end of the next term of government is necessary. 

“That is the challenge,” he said.

Fianna Fáil wants to keep housing ministry 

The Tánaiste said Fianna Fáil wants to retain the Housing ministry if the party is in the next government, saying that his party has historically been the one that rolls out house building projects. 

Referring to former housing minister Eoghan Murphy’s new book, which describes how he experienced pushback to his ideas from former Taoiseach Leo Varadkar and Public Expenditure Minister Paschal Donohoe, Martin said “there is resistance internally to a lot of this”.

“In our view, the market, on its own, will not solve this, and that is why there has been extraordinary state intervention,” he added.

When asked if Murphy’s testimony of his time as minister and the obstacles put in his way was a common occurence, Martin said Fianna Fáil too experienced pushback from “officialdom” when they entered government in 2020. 

“We said to the secretary-generals [in the civil service], ‘this is the most important issue facing government and we need to really change the paradigm around housing’. It’s existential. It goes to the essence of cohesion in our society. Irish people want the aspiration to own their own homes,” he said. 

Martin added that officials told him they didn’t believe certain measures should happen.

“There was a tendency to say the market should be allowed to determine everything. The market was failing for the last four to five years prior to going into government. And our view is, we have to get involved. And it does mean very significant government expenditure, and it has meant very significant government expenditure, but the results are now beginning to show,” he said. 

What sets FF and FG apart

When asked what separates Fianna Fáil from Fine Gael when it comes to housing, Martin said: 

I think the level of state intervention sets us apart.

He criticised the Fine Gael-led housing policy between 2016 and 2021, when Fianna Fáil was in a confidence-and-supply agreement with FG, saying that in that period before 2020, there was a tendency to say that Ireland shouldn’t be as focused on home ownership. 

“That was a trend in Europe, [where] they’re all renting. And I think that filtered its way into housing policy, and I think it had a very detrimental impact on housing.

Martin said Fianna Fáil pushed for strong state intervention, both on social housing and on the affordable side.

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    Mute BL Music
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    Jun 9th 2024, 5:09 PM

    Just like FF and FG . SF will not acknowledge the immigration problem and side with the natives .Irish people do not have a problem with people coming here to work and contribute to society . Irish people rightly do not want busloads of males been dumped into communities.This is wrong and SF would not acknowledge that in a meaningful way.
    If you travel abroad to countries like Poland , you do not see tent cities , you don’t see freeloaders in their cities. Why? Because their government listened to and protected their people .
    All SF had to do was acknowledge that perhaps , Irish people are right in their calls for something to be done that actually favours the people of Ireland and not the thousands of freeloaders we have currently milking the system.

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    Mute 9QRixo8H
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    Jun 9th 2024, 5:18 PM

    Again, immigration wasn’t an issue to anyone other than the skin-triggered because the current govt who gave us your so called “immigration problem” have been comfortably re-elected, with anti-immigration parties getting decimated. Nobody has to pander to the far right now, they lost, FFG won.

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    Mute Kieran Ferrett
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    Jun 9th 2024, 5:24 PM

    @BL Music: sure if that’s the case then why are ff/fg getting seats everywhere

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    Mute Thomas Sheridan
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    Jun 9th 2024, 5:54 PM

    @9QRixo8H: The only party that got decimated is the pro Hamastinian and pro free immigration Shinners.
    “Brits out – everyone else in” simply doesn’t wash with their former supporters.
    There is no Right wing party in Ireland except by the definition of the Lazy Loony Left Layabouts.

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    Mute Pat Barry
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    Jun 9th 2024, 6:31 PM

    @BL Music: How anyone could get a single thumbs up for such buncombe really is beyond me.

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    Mute 9QRixo8H
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    Jun 9th 2024, 7:20 PM

    @Thomas Sheridan: SF haven’t done well but they’re the 3rd largest party, how many seats did your far-right anti-immigrant parties get? A whopping zero. Racists have no mandate.

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    Mute Terry Brophy
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    Jun 9th 2024, 7:32 PM

    @BL Music: funny how just SF suffered isn’t it, kind of utterly undermines your argument, if your assessment of the importance and impact of the “immigration problem” was correct we’d have had sways of the countless anti immigration candidates elected….. Guess what they bombed

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    Mute Paddy C
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    Jun 9th 2024, 8:29 PM

    @BL Music: can’t say that that’s racist, allowing people to enter the country without checking they’re backgrounds couldn’t possibly cause a problem. As our spanner himself roderic o gorman says we have a legal and moral obligation to house those entering the country. Obviously to whoever enters the country not what’s currently in it.

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    Mute honey badger
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    Jun 9th 2024, 5:10 PM

    Saw this on twitter:

    “The only Sinn Fein person having a good day today is probably Jonathan Dowdall in Portlaoise Prison, who’s stuck his house on the market for €800k.”

    151
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    Mute honey badger
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    Jun 9th 2024, 5:39 PM

    @honey badger: Also, from Twitter:
    Sinn Fein spent €111,000 on Facebook advertising for this campaign. For 11%.
    Actual LOL!

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    Mute 6gRrQtLn
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    Jun 9th 2024, 4:53 PM

    She needs to go, the whingeing old bag

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    Mute Martin Kenny
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    Jun 9th 2024, 4:55 PM

    @6gRrQtLn: no, leave her there, doing a great job

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    Mute 6gRrQtLn
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    Jun 9th 2024, 5:03 PM

    @Martin Kenny: valid point

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    Mute Philip Murphy
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    Jun 9th 2024, 7:44 PM

    @6gRrQtLn: and who is capable of replacing her

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    Mute Pat Barry
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    Jun 9th 2024, 7:55 PM

    @Philip Murphy: Nigel Farage.

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    Mute 6gRrQtLn
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    Jun 10th 2024, 6:48 AM

    @Philip Murphy: no one should replace her, SF should be abolished all together, terrorists shouldn’t be allowed to run for government

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    Mute Alan OConnor
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    Jun 9th 2024, 5:06 PM

    She needs to realise politics isn’t conducted on social media.

    In a post vote survey 30 percent plus people said they had had a visit from an FF/FG candidate. Only 18 percent had one from SF.

    They need a new leader. She’s absolutely ruined them.

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    Mute Tom
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    Jun 9th 2024, 5:06 PM

    You’d have had my vote if Pierce Doherty was the leader.
    He talks sense.

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    Mute Martin Kenny
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    Jun 9th 2024, 5:13 PM

    @Tom: you mean how he wants affordable housing for everyone, just not in his area?

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    Mute Kush OMeara
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    Jun 9th 2024, 6:22 PM

    SFs traditional vote bank has been working class communities that are most impacted by very local issues. When SF started courting Hamas sympathizers and being all fascinated with Palestine and any other trending topics that didn’t resonate with the local communities, they lost those votes.

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    Mute Mr “JonnieBoy” Johnson
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    Jun 9th 2024, 6:33 PM

    @Kush OMeara: hari kari by sinn fein. Everyone could see that coming a mile away with the meely mouth re immigration and focus on palestine plus their referendum fcuk up. Mary Lou needs to go straight away and the party need to reorientate back to their core support , apologising on bended knee for betraying everyone.

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    Mute Renshai Renshai
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    Jun 10th 2024, 11:36 AM

    @Mr “JonnieBoy” Johnson: hand control back to ‘Belfast’

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    Mute Paddy Kelly
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    Jun 9th 2024, 5:35 PM

    And she’s blaming the ‘current government’ for SF’s failure at the polls..whilst the ‘current government’ are running away with it; I’m confused..how does that work? The voting public have rejected SF’s programme for their ‘Change’..but I don’t think either ML or PD understand a 2-figure vote..

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    Mute chris gaffney
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    Jun 9th 2024, 5:36 PM

    How is it that nobody can spell Pearse???? I do agree that marylou should go. She single handedly alienated the sf support. Thank you marylou!!!

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    Mute Sun Rise
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    Jun 9th 2024, 5:27 PM

    @BL Music:

    “Just like FF and FG . SF will not acknowledge the immigration problem and side with the natives”

    FF and FG seem to be doing alright despite your allegation that they don’t “side with the natives”. By your own logic nobody would vote for FF, FG or SF due to the “males being dumped into communities”. Something does not add up as FG and FF have garnered plenty of votes.

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    Mute martin finnegan
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    Jun 9th 2024, 6:33 PM

    Sadly i think Pierce Doherty needs to become leader . Very disappointed really thought people would vote for change . Not the same old boys club . Then again only half country voted these people same ones giving out.

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    Mute chris gaffney
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    Jun 9th 2024, 7:53 PM

    @martin finnegan: The loudest complainers couldn’t be bothered to vote obviously!!

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    Mute Wakeupkerrycoco Wakeupkerrycoco
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    Jun 9th 2024, 7:12 PM

    Let’s face it, FF/FG have been buying the locals votes for the last 12 months, money talks,every fiver extra,each lump some payment,each cost of living payment and every little increase & lots of handouts to communities across the country to white wash the crumbling buildings in the local squares.Brings all the locals to the schools to use their vote as a thank you to the government parties.Irish voters are always bought in the run up to elections, this will go on until the GE. It too will work then also as voters are always grateful for the few extra bob.Irish people love their money, whoever gives them more will have their hand shook.As long as donohue and mcgrath keep the handouts coming their almost guaranteed to be in government up to the beginning of the 2030s so get comfy everyone!.

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    Mute chris gaffney
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    Jun 9th 2024, 7:51 PM

    @Wakeupkerrycoco Wakeupkerrycoco: Dream on dear boy!!!! People just saw straight through the sf mullarkey!!

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    Mute Wakeupkerrycoco Wakeupkerrycoco
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    Jun 9th 2024, 10:20 PM

    @chris gaffney: Didn’t mention SF in my comment but yes I’d agree that people were not convinced by what SF have to offer anymore. Too slow to react to immigration and seemed to be having notions of grandeur before winning anything major.
    My comment was about peoples votes being bought by government.

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    Mute Renshai Renshai
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    Jun 9th 2024, 6:44 PM

    A poor display

    19
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