The coalition the Taoiseach leads was put together on the back of a grubby deal with Deputy Michael Lowry and his group of Independents. Since then, he and Simon Harris, the Tánaiste, have been found out for misleading the public on housing delivery figures during the election campaign. Now, he announces he will remove rent pressure zones in order to encourage private investment in housing. In other words, he will remove the only modest protection afforded to renters under this Government and leave them at the mercy of greedy corporate landlords. That is his plan.
It is further reported in the media that the Taoiseach has warned his party members to brace themselves for what he calls unpopular decisions that will be taken on housing. What are those decisions? The Fianna Fáil and Fine Gael record is one of sky-high house prices, rip-off rent and truly shameful record levels of homelessness. They may cast themselves as a new Government, but they are not bringing new or constructive ideas to the table. No, it is more of the same.
Who has the Taoiseach's ear? Who is he listening to? He is singing from the same hymn sheet as the lobby groups for big institutional property funds. "Institutional funds are an easy mark for abuse and misrepresentation". That is Pat Farrell, CEO of lobby group Irish Institutional Property, writing in the Business Post on 2 February. Of course the Taoiseach knows he is also a former Fianna Fáil general secretary and Senator. "There's been a tendency in the debate in Ireland to attack funds". That is not Pat Farrell; that is the Taoiseach speaking to the Irish Examiner last Saturday. Fianna Fáil is back in government, once again being led by the nose by lobbyists, defending the interests of big property funds, housing policy being shaped again by those who stand to make massive profit. The Taoiseach's concern is to rehabilitate the standing of vulture funds and cuckoo funds which have done untold damage. Is he aware shares in IRES REIT, the biggest corporate landlord in Ireland, jumped to an eight-month high on the back of his comments about removing rent pressure zones?
Everybody knows there needs to be private investment in housing but we do not require the Government to give carte blanche to these funds to enter the Irish market with a free hand and rip people off. That is the approach that got us into this mess. The Government has no new ideas on housing and no vision for the future of housing so the Taoiseach reverts to type and doubles down on the very approach that has failed abysmally. Is léir nach bhfuil tuairimí nua ar bith maidir le tithíocht ag an Rialtas seo atá nua, mar dhea, sa chaoi ina bhfuil siad ag lútáil mar a bheadh giolla de na cistí rachmasacha réadmhaoine. Why will the Taoiseach punish renters? What are these unpopular decisions he and his Fianna Fáil colleagues are discussing?