The much debated help to buy scheme has once again been highly criticised as the Sinn Fein party have called for the system to be scrapped once and for all.
The scheme which was inroduced in last year’s budget has come under scrutiny by opposition TD’s in the last few months after the price in properties has risen dramatically since it’s inception.
Speaking over the weekend the party’s housing spokesman Pearse Doherty has said the Government must axe the scheme which has caused great damage to first time buyers.
Mr Doherty said the scheme which was meant to assist those by helping them get on the property ladder has done nothing but line the pockets of property developers who have exploited the system to gain every advantage.
In a brief statement published on the Sinn Fein website over the weekend Mr Doherty said: “While I welcome reports suggesting that this scheme is to be axed in the upcoming budget the reality is that the damage has already been done and can be seen in the dramatic increase in house prices.”
“What we need to see now is a real effort to tackle the supply and affordability issues. That must be led by major investment in building social housing.”
“It is really disappointing that the government didn’t heed the warnings from Sinn Féin and others that the help to buy scheme would only serve to drive up house prices.
“With this scheme Fine Gael, with the assistance of Fianna Fáil, have driven up house prices and have facilitated the transfer of millions of taxpayers money into the pockets of developers.”
Mr Dohery added: “Reports that the final cost of the scheme could be as high as €80million are quite worrying in that respect.”