EU: Simon Coveney’s plan will raise house prices

Housing Minister Simon Coveney’s plan to help first-time buyers secure homes has been criticised by European authorities as it will simply push prices higher.

A number of key proposals in Mr Coveney’s ambitious housing plan have drawn the ire of the European Commission which described them as “costly and counterproductive” to sound management of the economy.

The latest European Commission report on Ireland’s progress since exiting the troika programme in late 2013 has also criticised the Government’s plan to cut the Universal Social Charge and suspension of water charges.