‘Relax EU rules to end housing crisis’ – local MEP and former Kilkenny TD

Ireland South MEP Kathleen Funchion has called for an exemption to EU fiscal rules to allow for greater investment in housing.

The new fiscal rules came into force on April 30, with the aim of keeping budget deficits below 3% of GDP and public debts below 60%

However, the former Kilkenny TD has called for the rules to be relaxed to help Ireland “to make the necessary investment required to end the housing crisis”.

Speaking during a debate on employment guidelines for EU member states, where the subject of housing featured heavily, the Sinn Féin MEP said “affordable housing is key to addressing social inequalities”.

Ms Funchion added: “It is my strongly held belief that a decent home is fundamental for every child to thrive, and for workers and families to prosper.

“In Ireland, ordinary people are burdened with sky-high house prices and rip-off rents and it’s important to remember that this did not happen by accident. This is the result of successive Irish governments and indeed the European institutions putting vested and financial interests ahead of workers and families.

“As legislators we must act. We must repeal the non-performing loans directive, which is a directive for vulture funds. We need to amend state aid rules and an exemption in the fiscal rules to enable us to invest in housing.”