Report leak reveals Government's plan for housing construction

Report leak reveals Government's plan for housing construction

Leaks from the Government's action plan on housing has revealed that 45,000 social houses are to be built over the next five years.

The Irish Times also claims that a State fund will be set up to purchase distressed properties.

Minister Simon Coveney will publish the housing plan in full next Tuesday, subject to Cabinet approval.

Critics of the plan say it is tackling the symptoms, but not the causes of the housing crisis.

Trinity College economist Ronan Lyons said it is crucial that the Government lowers construction costs.

"If the Government doesn't understand why it is that it's so expensive to build in Ireland compared to other countries, we won't be able to take the policy measure that are needed to fix that," he said.

"I think private figures for sue by developers themselves in their own projects suggests Ireland is 50% more expensive than Canada of the Netherlands."

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