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Dáil Éireann debate -
Tuesday, 18 May 1993

Vol. 430 No. 8

Written Answers. - Mortgage Relief Adjustments.

Pat Cox


107 Mr. Cox asked the Minister for Finance if, in respect of the proposed adjustments to remove the first £100 in respect of single persons and £200 in respect of married persons from mortgage interest relief allowance, he will give an estimate of the amount of revenue this will raise in 1993 and in a full year.

Assuming the enactment of this year's Finance Bill, the estimated gross yield to the Exchequer from disallowing relief on the first £100 of mortgage interest claimable by single and widowed persons and the first £200 for married couples is £12.6 million in 1993 and £21 million in a full year.

This is part of an overall package of increased relief for mortgage holders the net effect of which is a cost to the Exchequer and for which cost figures of £17.4 million in 1993 and £29 million in a full year were included in the budget arithmetic.