Government kite-flying won’t build homes
- Loosening developer lending rules won’t fix crisis
Labour’s Housing Spokesperson Conor Sheehan TD has slammed the Minister for Housing’s recent proposal to loosen lending rules for apartment developers, labelling it as a dangerous regression to Celtic Tigers failures.
Deputy Sheehan said:
“The Minister’s suggestion to relax lending regulations for developers is alarming. This kind of kite flying from the Government is meaningless; what we need is real, tangible action. Allowing developers to borrow more without addressing the fundamental issues is a recipe for disaster.
“Apartment construction has plummeted, and instead of taking proper charge, the Government is opting for superficial solutions. This proposal does nothing to tackle the root problems—namely, the soaring costs of building apartments and exorbitant land prices. It’s reminiscent of the reckless Fianna Fáil policies of the Celtic Tiger era, where short-term gains were prioritised over sustainable planning.
“Developers require a stable and predictable environment to operate effectively. Engaging in speculative policy announcements only adds to the uncertainty, hindering progress in the sector.
“There are actionable steps that can be taken now. For instance, Labour has advocated for transforming the Land Development Agency to ensure that the State plays a direct role in housing provision. Additionally, the Housing Solidarity Fund could be mobilised to support affordable housing initiatives, providing much-needed relief to those struggling with housing costs.
“It’s imperative that the Government moves beyond ineffective proposals and takes decisive action to address the housing crisis. We need comprehensive strategies that tackle the underlying issues, not a return to failed policies of the past. The time for real, effective action is now.”