PS-Madeira Advocates Increased Investment for Housing Recovery and Construction
Madeira GuideThe PS-Madeira is pushing for more funds to bolster public housing initiatives in the region, addressing the needs of the middle class and families unable to afford homes.
The PS-Madeira has called for an increase in funds dedicated to public housing investment across the region. This initiative is aimed at enhancing the quality and availability of housing for both the middle class and families who struggle to purchase or rent homes.
During a press conference held near the Madeira Legislative Assembly, CĂ©lia Pessegueiro, the president of PS-Madeira, emphasized the impending conclusion of the Recovery and Resilience Plan (PRR). This plan has been instrumental in providing significant funding for housing construction. However, Pessegueiro stressed the need for sustainable solutions to continue these efforts beyond the plan's expiration.
Redirecting Funds from Zona Franca
Pessegueiro proposed redirecting funds recovered from illegal aid previously granted to businesses in the Zona Franca, suggesting that these could be channeled towards housing investments. To date, over 140 million euros have been recovered, with potential for up to 800 million euros. She argued that utilizing these unforeseen revenues will not impact the regional budget's distribution, allowing for their allocation to housing projects.
Enhancing the PRID Loan Scheme
The PS-M leader also announced a forthcoming proposal to be debated in the Madeira Legislative Assembly. This proposal advocates for a 50% increase in the loan amounts available under the Degraded Properties Recovery Programme (PRID), potentially raising the cap from 20,000 to 30,000 euros. In extraordinary cases, such as total housing loss due to natural disasters, the PS supports even higher loan caps.
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Madeira Guide
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