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Cavan-Monaghan TDs must support Sinn Féin proposals to give renters a break and reverse disastrous landlord tax break – Pauline Tully TD.
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Reverse Disastrous Landlord Tax Break

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Reverse Disastrous Landlord Tax Break

Sinn Féin TD for Cavan-Monaghan has said Government TDs must support her parties proposals to give renters a break and reverse the disastrous deadweight tax break given to landlords.

 

Deputy Tully was speaking ahead of a motion brought forward by Sinn Féin Finance spokesperson Pearse Doherty, which will be debated in the Dáil on Wednesday.

 

The motion calls on the Government to abolish the landlord tax break and instead support renters by banning rent increases for three years, reducing rents by putting one month’s rent back into private renters’ pockets, and increasing targets for the delivery of affordable homes to rent.

 

Teachta Tully said: Reverse Disastrous Landlord Tax Break - Pauline Tully

 

“Families, workers and young people deserve and need affordable housing and affordable rents.

 

“The longer Fianna Fáil and Fine Gael are in government the worse things get. Under this Government’s watch, affordable housing and affordable rents have been pushed further out of reach for people.

 

“This government does not care about renters. Instead of supporting renters in Budget 2024, this Government prioritised giving unjust tax breaks to landlords.

 

“Documents released to Pearse Doherty last month showed that Department of Finance officials warned that such a tax break would have substantial deadweight costs and would be ineffective in retaining landlords in the rental sector.

 

“Officials also drew comparison to Celtic Tiger boom-time tax breaks, warning that ‘previous experience in the not-too-distant past was that such measures were ultimately disastrous’.

 

“Worse still, officials estimated that more than one in four landlords will pay no income tax whatsoever on the rents that they charge as a result of this tax break.

 

“Incredibly, the Government ploughed on regardless, leaving renters high and dry.

 

“I am calling on Government TDs in Cavan-Monaghan to support Sinn Féin’s motion to reverse this disastrous tax break for landlords.

 

“Instead, they should support Sinn Féin proposals to ban rent increases for a period of three years, reduce rents by putting one month’s rent back into private renters pockets through a refundable tax credit and increase targets for the delivery of affordable homes to rent.

 

“It is time to give renters a break.”

 

Sinn Féin’s motion can be read here: https://vote.sinnfein.ie/wp-content/uploads/2024/02/PMB-renters_landlord-tax-February-2024.pdf

 

Reverse Disastrous Landlord Tax Break - Pauline Tully

Reverse Disastrous Landlord Tax Break

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