Vol. 499 No. 4
137 Mr. Crawford asked the Minister for the Environment and Local Government if he will extend the £3,000 first time buyer's grant currently only available in respect of the purchase of a new house to first time buyers who purchase a second hand house; the estimated annual cost to the Exchequer of this change; and if he will make a statement on the matter. [2892/99]
It is tentatively estimated that the cost of a grant of £3,000 to each first time purchaser of a secondhand house would be of the order of £40 million annually. In present market circumstances any such extension would most likely have the effect of further boosting house prices and, having due regard to the priority demands on housing expenditure of the local authority and social housing programmes. I have no plans to extend payment of this grant to first time buyers of secondhand houses.
