Budget 2019 sees the largest ever investment in housing in a single year

October 9, 2018 0

Budget 2019 will make a significant impact on the housing crisis in Dublin Fingal, delivering the largest ever state investment in housing in a single year, a Fine Gael TD has said. Fine Gael TD for Dublin Fingal, Alan Farrell said “The Budget for 2019 as announced by my colleague the Minister for Finance and Public Expenditure and Reform, Paschal Donohoe, is a responsible and caring Budget for a modern Ireland. This is most evident in the way the Budget tackles the housing crisis with measures designed to boost the supply of housing to ensure that everyone who needs a home will have one.

“I know that we have a lot of work to do to reduce the level of homelessness, to find permanent solutions for those in temporary and emergency accommodation and to improve affordability of housing for those on low and middle incomes.

“However, from a point where housebuilding was close to a virtual standstill a number of years ago after the economic crash, the current Government has made, and is continuing to make, progress to help the people who need it most in communities across Dublin Fingal.

“To continue this progress, Budget 2019 provides a total housing budget in 2019 of €2.4 billion (including the Local Property Tax). This represents an increase of over €470 million or 26 per cent on 2018.

“As my colleague the Minister for Housing Eoghan Murphy has said, this is the largest ever investment in housing in one year.

“For people who want to buy their own homes in the North County Fine Gael is prioritising affordability through this Budget. We have established a €100 million Serviced Sites Fund to support local authorities such as Fingal County Council to bring forward lands for subsidised, more affordable housing.

“Minister Donohoe announced today he intends to increase the level of this affordable housing fund to €310 million over 3 years. In 2019 alone, the planned funding will increase from €20 million to €89 million, which will bring the planned investment to over €100 million next year. This will facilitate the delivery of around 6,000 affordable homes nationally over the lifetime of the fund.

“The infrastructural funding available per subsidised home is also being increased from €40,000 up to a maximum of €50,000, supporting the delivery of homes at up to 40 per cent below market prices. Funding for the first sites will be announced later this month.

“For people in need of social housing, Budget 2019 will help to deliver 10,000 new social homes nationally through new builds, acquisition and leasing programmes. This represents an increase of 460 homes over the original 2019 target, and will bring the number of new social housing homes provided under Rebuilding Ireland since 2016 to 30,700.

“There are also stronger protections for those who are renting their home in Dublin Fingal. This includes a 67% increase in funding to the Residential Tenancies Board and local authorities to enforce

“While we work to tackle the roots of the housing crisis, we must also in the meantime deal with its consequences. Accordingly, an additional €60 million in capital funding is being provided in 2018 to fund additional emergency accommodation and for additional family hubs. Added to this, €30 million is being provided next year for homelessness services, bringing the total allocation for such supports to €146 million in 2019. These measures will take 5,000 adults and their children out of homelessness.

“While being careful to ensure a responsible balanced Budget, the Government was determined to ensure that this Budget focused on social progress and care of our citizens. Meeting the housing needs of our people is a major part of this goal and I welcome the news that more new homes will be provided this year than in any year in the past decade.”