SINN FÉIN HAS lashed out at Fianna Fáil’s proposal to boost the Rent Tax Credit and extend the First Home Scheme.

The Journal exclusively revealed today that Fianna Fáil want to, “at a minimum”, double the Rent Tax Credit to €2,000.

Micheál Martin has also said he wants to expand the First Home Scheme. 

In an interview with The Journal yesterday, he said increasing the Help-to-Buy grant to get money into the hands of people who are renting or buying homes might also be a consideration.

Sinn Féin spokesperson on Housing, Eoin Ó Broin TD called the proposals “reckless”, stating that they will “turbocharge house prices and rents”.

Sinn Féin’s housing policy includes scrapping the Help-to-Buy grants and First Home scheme, which the the Fianna Fáil leader has said will “crucify” first-time buyers.

Ó Broin said Fianna Fáil’s manifesto proposals will result in ever-rising house prices and rents, leading to more and more people being locked out of affordable housing.

“Extending the controversial Shared Equity Scheme will not only add to house prices but saddle working people with increasing levels of high risk debt.

“Increasing the rent tax credit without banning rent increases, as Sinn Féin proposed, will mean the money will go straight into the landlord’s pocket. Indeed, it will likely fuel even higher rents,” he said. 

The housing spokesperson said the Sinn Féin’s housing plan can bring affordable home ownership back into reach of working people, while reducing council waiting lists and ending homelessness.

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“On the basis of what Micheál Martin has outlined today, another five years of Fianna Fáil in charge of housing will actually make things much much worse, with higher rents, higher house prices, rising homelessness and under delivery of social and affordable homes,” he added. 

Aside from Fianna Fáil and Sinn Féin, Labour launched it’s housing policy today which outlined that it will phase out the Help to Buy scheme over time by 2029 and develop a more income-targeted Save to Buy scheme for the purchase of new homes with income limits on the tax refund available.

Labour said it will phase out the First Home Scheme from 2026 in favour of affordable housing provided through local authorities and the new State Construction Company