Vol. 301 No. 2
asked the Minister for the Environment what relief he proposes to give to local authority tenant purchasers who purchased their houses prior to July, 1973, at prices in excess of those prevailing after that date, under the following headings (i) cases of outright purchase, (ii) cases where a lump sum or lump sums were paid off the price, and (iii) ordinary cases where no lump sum has been paid; and if he will make a statement on the matter.
15.
asked the Minister for the Environment the plans he has to reimburse those who bought their houses under the pre-1973 house purchase scheme.
With the permission of the Ceann Comhairle, I propose to take Questions Nos. 14 and 15 together. Local housing authorities were notified on 17th May last that in any case where a tenant purchased his house in the period 1967 to 1973 and the price paid was higher than would have been payable under the sales scheme introduced in July, 1973, the last quarter of the repayment period should be waived and the annuity will remain unchanged, provided that the reduction in price is not greater than the amount by which the pre-July 1973 price exceeded the July, 1973 price.
This concession is available only to tenants who purchased their houses on an annuity basis and who have not subsequently redeemed the annuity in full. The payment by lump sums of part of the amount outstanding will not disqualify a tenant purchaser from obtaining the concession. However, it is not proposed that tenants who purchased their houses outright under the pre-July 1973 schemes should receive a cash refund.
I want to elicit some information from the Minister because his answer is not clear. Will persons who repaid part of the purchase price by lump sum to clear off the repayments before the end of the term still get the one-fourth remission?
Payment by lump sum of part of the amount outstanding will not disqualify a tenant purchaser from obtaining the concession.
What about people who cleared the repayments this year after the scheme was announced and before it was reduced? Will they get a rebate?
This concession is available only to tenants who purchase their homes on an annuity basis and who have not subsequently redeemed the annuity in full.
Is this in line with what was stated in the Fianna Fáil manifesto or in discussion with the various groups concerned?
In all fairness it should be said it was my predecessor.
I do not want to be contentious about this because it is good that they get it. Is it in line with what was stated by the Minister's predecessor?
It is. My predecessor anticipated the manifesto.
Did we not do well?
We did better.
Does the Minister not agree that remission of the last quarter will mean practically nothing because of the rate of inflation? Would he not consider giving the remission at the present value rather than that in ten, 15 or 20 years' time when I am sure the Minister will agree the value of the £ will bear little resemblance to the present day value?
The value of the £ is going up rapidly at the moment.
I do not think it will continue.
I want to be clear on this because many people in my area are affected by it. Is there any question of people who paid getting a refund?
Is the Deputy referring to people who have paid in full and bought outright by lump sum?
I am talking about people who have paid for the house in full, who either paid outright or paid through annuities or a series of lump sums.
If a person paid the full purchase price at the beginning there is no refund. If a person paid part of the purchase price by lump sum at the start and then paid by annuities thereafter the 25 per cent of the annuity period would apply.
I am talking about people who bought out their houses by instalment, who have now cleared the repayments and who did not buy their houses by one payment. Will they get a refund or will anyone get a refund?
There is no refund involved. It is a reduction.
This document states: "Better deal for corporation purchase tenants".
The Deputy may not quote at Question Time.
This is a very important matter.
Is the Minister aware that some people borrowed from other sources and repaid the money? Will he give favourable consideration to those cases? There are only a few of them and they are paying back the instalments to credit unions or other sources.
I will certainly consider it but this decision was taken before I came into the Custom House, as I made clear already.
May I ask the Minister——
I am not allowing any further supplementaries on that question.
Has the Minister changed the previous Minister's decision?
There is no change.
The Minister has done nothing and is not going to do anything.
I said the decision was taken by my predecessor. I gave him credit for that.
What about the manifesto?
I never saw it before.
The names Joe Dowling, Lauri Corcorn and Eileen Lemass are on this.
I am calling Question No. 16.
