Fianna Fáil has committed to doubling the Rent Tax Credit and expanding housing support schemes as a part of its housing plan if voted back to power in the upcoming general election.
In an interview with The Journal, Tánaiste and Fianna Fáil leader Micheál Martin revealed the party’s intent to alleviate financial strain for those renting or buying homes.
The proposed increase would see the Rent Tax Credit raised to at least €2,000 per person, following an earlier bump to €1,000 in the October Budget.
This adjustment aims to provide renters with meaningful financial relief amid rising housing costs.
In addition to rental supports, Fianna Fáil intends to expand the First Home Scheme, which assists buyers with the affordability gap in purchasing a home. Specific details will be included in Fianna Fáil’s housing manifesto set for release next week.
Discussing the Help-to-Buy grant, which currently provides up to €30,000 in tax rebates for first-time buyers of new builds, Martin indicated there may be room for increases.