€1BN PLAN TO TACKLE HOUSING

THE Government will make a major announcement following today's Cabinet meeting in a bid to tackle the housing crisis.

-  LOUISE BURNE

The proposals by Housing Minister Darragh O'Brien could cost the State up to €1billion over the next three years.

The Irish Mirror understands that Cabinet will be asked to sign off on three proposals.

These will focus on increasing grants for vacant or derelict homes, removing levies for developers and providing additional funding for cost-rental apartments.

The first proposal will amend the existing Croi Conaithe vacancy scheme, which offers grants of up to €30,000 for vacant homes and up to €50,000 for derelict homes.

Although sources stressed last night the increased grants had not been agreed, it has been suggested both could be boosted by €20,000.

The scheme will also be expanded to allow homes built up to 2007 to avail of the payments.