Vol. 450 No. 6
63 Mr. E. Byrne asked the Minister for Finance if his attention has been drawn to the concern expressed by the Alzheimer's Society that the restriction of convenants to 5 per cent of income will mean that many families of Alzheimer's victims will be so financially stretched that they would not be able to afford continuing care for their loved ones; the way in which he will resolve this situation; and if he will make a statement on the matter. [5406/95]
I have met with the Alzheimer's Society and understand their concerns about the budget proposals. I have therefore decided that the 5 per cent limit on covenanting will not apply in the case of covenants to persons who are permanently incapacitated by reasons of physical or mental infirmity. This change will help all those using covenants to support incapacitated persons. It will be of significant benefit to those using covenants to pay for nursing and medical care for their elderly parents.
