Additional €1.4 billion for social housing should be included in Budget 2023, says Social Justice Ireland

The Government should invest an additional €1.4 billion for social housing delivery in Budget 2023, Social Justice Ireland has said.

Investment in infrastructure “must be a Budget 2023 priority” and should “address Ireland’s poor performance on delivering basic infrastructure,” the organisation’s chief executive, Dr Seán Healy said.

“Long-term investment in basic, or social, infrastructure should be part of the Government’s response to improve living standards and reduce the cost of living in Budget 2023,” he said.

The Government should also “plan for a scenario where the current rise in the cost of living persists, contributing to a reduction in demand as consumer spending falls.”

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This could result in capacity becoming available within the economy which would support our infrastructure targets, Mr Healy said.

“Budget 2023 should focus on preparing for this and have investment plans ready to address some of our basic infrastructure deficits, social housing being the most obvious.”

Colette Bennett, economic and social analyst at Social Justice Ireland, said housing affordability continued to present a serious issue in Ireland and the cost of a home “remains out of reach for many”.

The cost of buying a home increased nationally by 14.4 per cent to May 2022; and private rents increased by 11.2 per cent in the same period.

“The solution to these problems is investment in appropriate supply, rather than over-reliance on subsidies which artificially inflate housing costs,” Ms Bennett said.

“Major additional investment beyond what’s included in the current housing plan will be necessary.”