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Mike Denver

My Darling Kathleen

Tax Credit For Renters Will Go "Straight Into The Pockets Of Landlords" Without A Rent Freeze Warns TD

Stock image: Pexels

Socialist Party TD Mick Barry has called for a rent freeze.

Socialist Party TD Mick Barry this morning said that the €500 tax credit for renters will go straight into the pockets of landlords unless a rent freeze is introduced.

Deputy Barry, a member of the Oireachtas Finance Committee, said that the €12 social welfare increase fails to match the rate of inflation for the vast majority of social welfare recipients and in effect represents a cut in income for some of the lowest income households in the State.

The Cork North Central TD said that despite all the talk of "Budget giveaways" when people sit down and do the math they will see that the Budget falls far short of protecting their standard of living in the face of the cost of living crisis.

He predicted that the Budget will not be sufficient to "get people off the streets" and that November's planned cost of living protests will attract big support.

He also said that a demand for a second "emergency" budget will gain traction by the early New Year.

He said: "Despite all the talk of a giveaway Budget the vast majority of people will be worse off in the New Year than they are today. Profiteering is rampant but the Government is not taking strong action against the profiteers.

"Without a rent freeze the renters tax credit will end up in the pockets of landlords. The social welfare increase falls far short of the €20 many campaigners called for and will be eaten up by inflation before half the week is through.

"Half measures will not keep household budgets out of the red and when the time to protest comes will not keep people off the streets either," he added.

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