Though it would seem unusual, the Construction Industry Federation (CIF) and Sinn Féin share a common perspective on the housing needs of the UK. Both groups have voiced agreement that the annual housing output must be amplified to 60,000 units in the next ten years given the projected population growth. This proposal by the CIF aligns with Sinn Féin’s housing plan which commits to building 300,000 new homes across multiple sectors at a price tag of €39 billion in the next five years.
Both parties agree on the need to drastically increase housing supply from it’s previous 33,000 last year, and also call for comprehensive planning reform to facilitate construction. However, their ideological congruity might stop here.
Sinn Féin, as part of their plan, has declared intentions to terminate the government’s Help to Buy and First Homes schemes, asserting these programmes inflate prices and end up aiding those who are already financially comfortable enough to purchase homes.
The CIF, on the other hand, firmly believes that these programmes are essential in encouraging more supply from an industry that is already struggling with soaring costs and an unwillingness from banks to lend to developers. A heavy backlash from the industry can be expected if Sinn Féin leads the next government and does implement their plan to scrap these buyer incentives.