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Government investment plans can’t be windfall for speculators – Cullinane

14 June, 2016 - by David Cullinane TD

David Cullinane, Sinn Féin spokesperson on Public Expenditure and Reform, said today that Minister Donohoe’s capital investment plans can’t be a windfall for speculators. If public funds are to be used, there needs to be clear conditionality with regard to a public return.

Deputy Cullinane said:

“Ministers Donohoe and Coveney's plan announced today, to give up to €200m to local authorities to build infrastructure on sites already in the hands of private developers, will address a need in that it will speed up the supply of housing, but it cannot be a blank cheque policy.

“We need to know if there will be a requirement on developers sitting on undeveloped land to pass on the savings in infrastructure on to either private house buyers or local authorities.  We need to know if the sites developed with public funds will have social and affordable clauses in order to address the severe housing needs of low to middle income households.

“Minister Donohoe has a responsibility to deliver a national infrastructure development plan. His department covers capital investment. The Minister has to make clear whether he intends inserting clear conditionality into his capital investment plan in order to ensure that the return on the investment benefits society as a whole and not just speculators, profiteers and land hoarders, be it in housing, health or infrastructure.” 

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