Kildare TD: Govt Rules On Cuckoo Funds Are An Abuse Of Power.

Thursday, 8 July 2021 15:38

FIle image: Catherine Murphy/RollingNews

A Dáil vote means they're exempt from the 10% higher rate for the bulk buying of 10 properties or more.

A Kildare TD has described the Government's new rules on cuckoo funds as an abuse of public money.

The Dáil voted to give investment funds back their lower rate of stamp duty if they're buying homes to lease back to local authorities.

It will make them exempt from the 10 per cent higher rate for the bulk buying of 10 properties or more.

Social Democrats co-leader & Kildare North TD, Catherine Murphy says the state will end up footing the bill:

And, as journalist Paul O'Donoghue explains, this legislative train began with the bulk purchase of 135 homes in a Maynooth housing estate.

Catherine Murphy said leasing properties from funds for 25 years was "an abuse of public money" https://t.co/v96qXtOH1P
— TheJournal.ie (@thejournal_ie) July 8, 2021

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