Sinn Féin's spokesperson on Housing has said the extension of the Help to Buy scheme will help developers and too many of the homes that have been bought are priced too high.
Eoin Ó Broin said the money would have been better spent in investment in good quality, affordable homes for families.
He said that 40% of the claimants who qualified for the scheme already had the full deposit, which means €80m of taxpayers money was given to people who actually did not need it.
Minister of State at the Department of Finance Sean Fleming said the new Help to Buy scheme is a "very good scheme" that will help first-time buyers purchase a home and he is shocked to hear Sinn Féin attack people who saved up for a deposit.
Speaking on RTÉ's Today with Sarah McInerney, he said it is "a disgrace" to attack those who want to buy their own home and save up the money for a deposit.
Mr Fleming said the scheme will encourage more houses to be built and increase supply.
Mr Ó Broin rejected the assertion by Mr Fleming that he was attacking first-time buyers and said he was criticising a bad Government policy.
Mr Fleming said the new Government bill will give some security to tenants for the next six months and it was a disgrace that Sinn Féin voted against giving tenants security.
Mr Ó Broin said he voted against the bill because there is limited and cumbersome protection for tenants whose tenancy is at risk because of Covid-19.
He said his party tabled 15 detailed amendments to help all tenants.