NAMA housing provision an innovative step in tackling chronic housing shortage

Fine Gael TD for Dublin Fingal, Alan Farrell, said that new measures announced in Budget 2016 will boost housing supply.


“Asking NAMA to provide 20,000 new homes, using its own land and resources, is an innovative and targeted measure that will boost housing supply, particularly in Dublin. Ninety percent of these will be in the Dublin area and 25 per cent will be starter homes.


“Of course, it will take time for these houses to become available, but Minister Noonan today demonstrated this Government’s innovative approach to getting us to a sustainable, functioning housing market based on ensuring a robust housing supply.


“Also, the current allocation for social housing will be increased by €69 million, to €414 million. This funding will enable local authorities to secure accommodation for another 14,000 individuals and families seeking a home. Overall, we are investing almost €4 billion in providing social housing between now and 2020.


“Following their contributions in the Dáil, it is clear that having given up on building social housing, Fianna Fáil’s rhetoric is hypocritical and their opposition is populist nonsense.


“The last few budgets have been hard, but they made it possible for Ireland to exit the bailout, reduce our debts, and develop a sustainable recovery. The main priority of this year’s budget is to keep our recovery going, while providing relief and better services for the Irish people. It includes steps such as cut in the USC, more nurses and doctors for the health service, more affordable and quality childcare, and ending the unfair treatment of the self-employed. These are sensible, affordable steps that will keep our recovery going and bring its benefits to more households.”