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Government must rule out special savings scheme - Pearse Doherty TD

4 October, 2018 - by Pearse Doherty TD

Sinn Féin Finance spokesperson Pearse Doherty TD has said that the Budget must not see any return to a McCreevy style Special Saving Scheme.

Raising the issue with the Tánaiste, who refused to rule out the scheme, in the Dáil Deputy Doherty said:

“We see in the media today reports that a special savings scheme is being considered. Not surprisingly it is being touted as the brainchild of Fianna Fáil.

"Last week Minister Donohue was clear when asked if he was thinking of a special savings scheme. He bluntly said 'No' - the right answer.

"These schemes only add to the value of homes and undermine the Central Bank rules. The winners will be the developers and banks.  

"The losers will be the struggling families and people working to save for a home.

"In Britain the similar Help to Buy scheme has been a disaster, pushing up prices and it looks set to be scrapped.

"Today the Tánaiste chose not to reply to my question which only furthers my fear that this is seriously being considered.  

"Within the space of a week we have moved from a position of 'no' to 'no comment'.

"I am calling on Minister Donohue to reassert his 'no' of only a few days ago and rule out this flawed Fianna Fail idea.

"What is needed is investment on the scale Sinn Féin’s alternative commits to and measures to reduce costs.”

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