Call for investment in rural Ireland

The Rural Independent TDs - Mattie McGrath, Michael Healy-Rae, Carol Nolan, and Danny Healy-Rae - presented their comprehensive Pre-Budget Submission for 2025 to the Minister for Finance. This submission outlines a strategic plan to address the pressing challenges faced by rural communities across Ireland, advocating for targeted investments in key sectors such as health, housing, rural development, infrastructure, and agriculture.

Key Proposals:

1.Housing Emergency: The Rural TDs propose that starting January 1, 2025, foreigners, or foreign entities may only buy property (including land) in Ireland for their main residence or business if they meet the following criteria:

- Have previously lived in Ireland for at least five years;

- Are citizens of the EU and work in Ireland;

- Are citizens of a non-EU country with a valid permit to stay or do business in Ireland.

Deputy Mattie Mc Grath stated: “Currently, investment funds that engage in bulk purchases of 10 or more properties face a 10% Stamp Duty rate, which has proven insufficient. Since 2021, bulk purchasing has increased by 233%, with 4 in 10 new homes in 2023 bought by bulk buyers. The tax only applies to homes, not apartments, and homes leased back to the State for social housing are exempt. An outright ban on bulk purchasing by foreign-domiciled funds is now required. Our policy proposal also applies to public companies established in Ireland but controlled by foreigners and aligns with EU laws, like a policy adopted by Denmark.”

2.Health and Mental Health Services: The submission calls for a €2 billion increase in mental health funding to address chronic underfunding and ensure timely access to services. "The unacceptable reality of having one million people on healthcare waiting lists demands urgent action," stated Deputy Mattie McGrath. "We need a strategic increase in the healthcare workforce, particularly in rural areas where the shortage of GPs and dentists is acute."

3.Social & Affordable Housing Supply: With 14,500 individuals, including 4,400 children, experiencing homelessness, the TDs emphasize the need for increased social and affordable housing supply incorporating a total construction of up to 60,000 new units per year. "The human cost of the housing crisis is immense," said Deputy Carol Nolan. "We must accelerate the overall construction of houses including building more social (Council) and affordable housing units to reduce waiting lists.”

4.Rural Infrastructure: The submission highlights the critical need for road improvement funding, following a €200 million road budget cut. "Minister Eamon Ryan's approach has stymied necessary investments, leaving local authorities struggling to maintain basic road infrastructure," noted Deputy Michael Healy-Rae. "A well-maintained road network is essential for regional connectivity and economic growth."

5.Taxation and Value for Money: The TDs advocate for a reduction in carbon taxes and VAT on fuel, recognising the burden these taxes place on rural residents. "The Government's fiscal mismanagement, exemplified by overruns in projects like the National Children's Hospital, highlights the need for stringent oversight and accountability," added Deputy Danny Healy-Rae. "We must ensure taxpayer funds are used efficiently to deliver tangible benefits to our communities."

Commitment to Rural Ireland

The Rural Independent TDs remain steadfast in their commitment to championing the needs of rural Ireland. "Our submission reflects the voices of our constituents and the broader rural community," concluded Deputy Mattie McGrath. "We call on the Government to take decisive action and invest strategically in rural development to build a more resilient and prosperous Ireland."