Election 2020: Social Democrats promise ban of sales to vulture funds

The sale of property to so-called vulture funds would be banned by the Social Democrats if elected to government.

The party has said reforming the housing sector is one of a number of key necessities to drive down the cost of living, a problem continually raised by voters.

“During this campaign we are meeting a lot of people on the doorsteps who are saying that the cost of living, housing in particular [AND]also childcare, is becoming an issue for them in terms of thinking whether or not they can still [AFFORD TO]live in Ireland,” said Dublin Bay North candidate Cian O’Callaghan, launching his parties Affordable Lives policy on Thursday.

“People are saying they are working harder and harder just to try and tread water.”

Election 2020: Sligo-Leitrim constituency profile

---

DUP politician urges Conor Murphy to resign over Paul Quinn comments

---

Election 2020: Are we all socialists now? And six other big economic questions

---

Class warfare and shadowy gunmen: How the 2020 election echoes 1932

---

Much of the party’s focus is on the area of housing and it sees the exploitation of public land banks as key to arresting rising costs in both provision and affordability.

As such it would seek to build 20,000 homes a year and on public land this would include one third affordable purchase, one third affordable rent, and one third social.

Mr O’Callaghan said previous State policy that helped newly wed couples purchase homes on publicly owned land was the kind of approach that could be repeated in the 21st Century.

“It gave people the ability to put down roots, get involved in the community,” he said.

In an appeal to voters, the Social Democrats said it would ban all sales of properties to so-called vulture funds and change the legal definition of landlord to include banks and receivers.

The party also supports a “complete freeze on all residential rents” for a number of years until supply is improved.

Its policy document says the current rent cap of 4 per cent per year is too high at five times the rate of inflation. It is too easily evaded by some landlords, it says. The party would also “limit” the sale of property as grounds for terminating a tenancy.

In healthcare, the party has vowed to reduce the cost of GP and dental visits, as well a hospital and prescription charges through the roll out of Slaintecare.

Other proposals include the introduction of a payment to parents for childcare and increasing paid parental leave from the end of maternity and paternity periods to the child’s first birthday.

Primary and secondary education would be made “truly free” through a range of measures including the funding of school books and classroom resources, and the abolition of voluntary contributions.

At third level, a subject of ongoing debate, the Social Democrats cite the need to phase out student contribution charges and increasing Susi grant funding by 7 per cent.

Public transport would see “substantial investment” by way of subsidies to reduce fares, while also promising a €100 million injection into rural Local Link services. The privatisation of bus routes would be opposed.

“Our proposals are costed,” Mr O’Callaghan said of wide-ranging policy. “It’s absolutely really, really important that proposals put out by parties are focused on what we can really deliver.”