Families lose out

THE Government has withdrawn its subsidy to first-time home buyers while retaining massive support for investors. First-time buyers are down €3,800 grant and €1,800 VAT on a €200,000 house.

A large proportion of those renting high-value properties can only afford 20 or 30 a week. The Government pays the balance - say, 150 a week - thus justifying the investor paying a price for the house that many hardworking couples can’t afford.

Rent allowance is maintaining large profits for builders and speculators.