TAOISEACH MICHEÁL MARTIN has said he can understand concerns surrounding reports that the new so-called ‘Housing Tsar’ set to be appointed by the Government will retain his Nama salary of €430,000. 

The Times reported on Saturday that Brendan McDonagh, who is the chief executive of the National Asset Management Agency, will retain his existing salary, along with benefits, when he takes up the new role in the Department of Housing. 

Currently, Government ministers are paid a salary of €115,953 with an additional salaried allowance of €94,797. The Taoiseach earns over €248,000 annually. 

McDonagh will lead a new ‘Strategic Housing Office‘ within the Department of Housing to oversee housing policy. It is understood he will begin his new role next month. 

When asked about the matter today, the Taoiseach said he could not confirm the full arrangements “in the context of the individual concerned”. 

He said he expects a decision will be made on the new role this week. 

“Our focus really is on getting the office set up, getting a person of competence in there, and to get things moving in respect of some large housing projects. It’s all about output, and getting more houses built as fast as we possibly can,” Martin said. 

When asked if he could understand public concern about McDonagh reportedly retaining his salary, the Taoiseach said: “I understand that concern, but the overarching concern is getting houses built much more quickly.”

Brendan McDonagh is expected to begin his new role in the Department of Housing next month. RollingNews.ie RollingNews.ie

He said he was not going to comment on whether he thought €430,000 was a fair salary “because the Government hasn’t made any decision in respect of that aspect of it”. 

Martin said the need for a strategic office within the Department of Housing “to focus exclusively on removing roadblocks and barriers to housing construction” was identified in talks leading up to the creation of the Programme for Government. 

He said it was needed to “take a hands on approach to particularly large projects” and to “get things moving where there may be barriers to big projects and big programmes”.

“The Department of Housing will be bringing forward proposals in that regard. My understanding is this week.”

McDonagh became the head of Nama when it was formed in 2009 in the aftermath of the financial crash. It is set to be dissolved by the end of next year.

His expected new position in the Department of Housing comes after it emerged last week that the Government failed to meet their social housing targets for 2024.  

There were 7,126 affordable homes and 10,585 social homes delivered in 2024. Around 7,800 of the social homes were new-builds.

The Government met its target for affordable housing but its social housing delivery fell short of its goal of 12,930. It means that the delivery of social homes was just over 18% below the target. 

At the same time, as of November 2024, 59,941 households were assessed as being qualified for and in need of social housing support. 

It marks an increase of 1,117 (1.9%) year-on-year. 

The Government also came under fire in recent months for missing its overall 2024 housing target of 40,000 homes by a margin of 10,000.

The outgoing government had said in the run-up to the election that the target would be met, but subsequent revelations showed ministers had been warned beforehand that it would be missed.