Calls for investment in infrastructure and housing amid 'enormous' budget surplus

Government called on to dramatically increase the investment in refurbishing vacant and derelict properties. File picture: Denis Scannell

Calls for a “massive expansion” of emergency accommodation, as well as significant investment in infrastructure, have been made by opposition TDs in light of “enormous” projected budget surpluses.

According to the recently published Stability Programme Update, Ireland is set to have significant budget surpluses amounting to some €65bn between now and 2025.

People Before Profit TD Richard Boyd Barrett said “a very significant portion” of the surplus should be used for the expansion of “decent-quality” emergency accommodation.

“Beyond that, and most importantly, we need to dramatically increase the investment in refurbishing vacant and derelict properties and building new public and affordable housing. In order to deal with the housing crisis,” he said.

Mr Boyd Barrett said despite the Government “absolutely swimming in money” there was a growing number of families and individuals who are “suffering extreme trauma and a hardship” and that it would be “obscene” to save the funds.

“The idea that the Government would consider putting billions of euros into a savings bank, into a piggy bank, when there are children who have nowhere to sleep, who are sleeping in cars, being sent to hostels miles and miles away from where they go to school, or they're being traumatised by the fact that they and their families are being made homeless, it just makes no sense,” he said.

Labour TD and Finance spokesperson Ged Nash said there had been essentially a decade of underinvestment in Ireland and the State had been playing “catch up” in terms of housing, health, infrastructure, transport, and meeting climate adaptation needs.

“What we need to do is invest very heavily as well in those areas,” he said, while also calling for the establishment of a sovereign wealth fund that would deal with the expense of an ageing population meeting pension and health demands.

Social Democrats TD Róisín Shortall said the budget surpluses should be used to pay off some of the national debt while also calling for investment in infrastructure, saying: “There's potential for doing something really big.” 

Grocery prices

Labour TD and finance spokesperson Ged Nash said there was 'excessive profiteering' in the supermarket sector.

Meanwhile, opposition TDs have called for action from Government on “excessive profiteering” in the supermarket sector. 

Social Democrats TD Gary Gannon called on large supermarkets to release their profits to see what items are driving inflation concerning food poverty while Labour TD and finance spokesperson Ged Nash said there was “excessive profiteering” in the supermarket sector.

“We know that bread, butter, milk and eggs prices at the checkout have gone up by about 20% over the last year while the cost of making those products has gone down quite significantly, but customers at a checkout are being frankly stiffed because of high prices being charged by supermarket chains,” he said.

Mr Nash said “Ireland needs a pay rise” as wages are not rising to meet the rate of inflation.

That should start by ensuring the minimum wage goes up in excess of the rate of inflation this year and that's a point that we have made last year as well because far too many people have been left behind.

“677,000 people in Ireland are living below the poverty line. At a time when the State is posting record tax surpluses that is immoral. It's unethical and it's absolutely shameful,” he said.

Ahead of Junior Enterprise Minister Neale Richmond’s meeting of the Retail Forum on Wednesday, Mr Nash said if there were no reductions or results over the next few weeks, the Government should introduce maximum price orders for six months to get prices down.

Mr Nash said he would like to see supermarket and retail representative bodies “hauled into” the enterprise committee to face questions from TDs and senators about their practices.