In December 2016 the European Investment Bank opened a permanent office in Dublin - Leaving Cert Economics - Question c - 2017

When individuals secure permanent housing, there will be a decrease in government spending on rent supplements. This can free up resources that can be redirected towards other essential services or emergency accommodation, optimizing the government’s financial assistance efforts.

Having a permanent home can lead to improved stability in individuals' lives, enabling them to plan for their future with greater certainty. This stability can enhance mental health and overall well-being, as people will no longer face the anxiety associated with rental insecurity.

The construction of new social housing can reinvigorate local neighborhoods. As these areas are developed, they can attract more individuals and families, leading to enhanced community interaction and a lower incidence of crime, ultimately improving the quality of life in those neighborhoods.

The influx of new residents in areas where social housing is established can increase local spending. This surge in population may benefit small businesses and generate more job opportunities, fostering economic growth within the community.

As social housing becomes more available, the demand in the private rental market may decrease. This can help stabilize rental prices and provide more affordable housing options, benefiting the community overall.

The project itself will likely create jobs within the construction sector. This can bring back individuals who may have left Ireland during economic downturns and offer new employment opportunities, thus benefiting the local economy.

Investment in social housing can stimulate demand for goods and services associated with construction. This increased economic activity will benefit suppliers and related businesses, leading to broader economic advantages within the community.