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Cost Rental

The National Economic Plan - to be published on Budget day - must give equal weight to environmental, social and economic considerations. Otherwise, this Government will simply repeat the mistakes of the past and many will be left behind.  The National Economic Plan must be underpinned by a new social contract that treats our environment, society and economy equally

'Building a New Social Contract – Policy Recommendations’ contains more than eighty specific policy recommendations that would go a considerable direction towards a new social contract to improve the quality of life and wellbeing of everyone and ensure that a no-one is left behind as our economy and society recovers from the impact of Covid-19.

As housing policy continues on an increasingly private pathway, more of us are accommodated through the private rented sector.  We need to redesign this sector to reflect its increasing use a tenure of choice and necessity to protect the rights of tenants and to make it more affordable.  We need to uncouple our basic housing need from the boom-bust cycle of the property market.  One mechanism to address affordability is to introduce a cost rental system to scale.

The lack of quality, affordable, long-term rental properties; double-digit rent inflation and the continued use of private rent subsidies for families in need of a real social housing response only serves to add to the problem. It’s time to think of alternatives, and alternative ways to finance sustainable and affordable homes.

Government needs to move away from reliance on the private rented sector to provide solutions to Ireland's housing crisis.  This was echoed by the OECD last week in their recommendation that Ireland seek longer-term solutions that prioritise housing supply.  Cost-rental may provide one such public housing solution which allows the State to recover the cost of housing provision while providing security of rent for tenants currently experiencing double-digit rent inflation.