Apple €13bn should be invested in infrastructure like housing, O'Brien says

Vivienne Clarke

Minister for Housing Darragh O’Brien has said it was his own view that the €13 billion Apple funds should be invested in infrastructure such as housing.

“The Government, in a very considered way, will discuss and decide how that money would be spent, obviously, because it's a one off tax receipt. I think my own view is it should be invested and it would be invested in infrastructure, housing,” he told Newstalk Breakfast.

The Government would reflect on the issue, he said. Investment in the Climate Fund would also be examined, but discussions would be held with government colleagues before a pathway forward was decided.

On RTÉ radio’s Morning Ireland, the Minister said that the focus for the Government at present was budget preparation, but the Apple judgement had been accepted.

“I think to be fair, most people understand the government would prefer to assess the decision, and we will as a collective decide how best that money can be invested and should be invested. We're investing significantly in housing already.

"Certainly, I think from my own perspective, it would make absolute sense that with the additional windfall that in the future we would look at how we would invest that in infrastructure, including in housing as well.

“We're investing this year the highest amount that we've ever done as a state in housing. And thankfully we're seeing a significant increase in the outcomes in housing across all of those points. Significant challenges still remain. And I'm acutely aware of that.”

Mr O’Brien was asked on Newstalk Breakfast whether the Government was open to looking at suggestions that small, stand-alone units, ‘seomra’, could be rented out to ease the rental market. “It is something that we have looked at, but there are issues.

“Urban areas can be tricky with regard to access and also with regard to renters rates. So there's things that we're looking at and we're open to looking at them.”

When asked on Morning Ireland about a proposal by Fine Gael’s Neale Richmond about stamp duty on “bulk buying” of homes, Mr O’Brien said he had not had any discussion with Mr Richmond, but it was an issue that would be kept under review.