Michael McGrath
Question:27 Deputy Michael McGrath asked the Minister for Finance the way he will finance the increase in mortgage interest relief for first time buyers if relief for new buyers is not abolished from June 2011. [7090/11]
View answerThursday, 7 April 2011
Questions (27, 28, 29)
Michael McGrath
Question:28 Deputy Michael McGrath asked the Minister for Finance his plans to increase mortgage interest relief to 30% for first time buyers; when he will do so; and if he will make a statement on the matter. [7091/11]
View answerMichael McGrath
Question:29 Deputy Michael McGrath asked the Minister for Finance his plans to abolish mortgage interest relief for new buyers in June 2011; and if he will make a statement on the matter. [7092/11]
View answerWritten answers
I propose to take Questions Nos. 27 to 29, inclusive, together.
There is a commitment in the Programme for Government to help homeowners in distress to weather the recession. The Government will examine a number of proposals in relation to this commitment. One of these proposals relates to increasing mortgage interest relief to 30% for First Time Buyers who bought between 2004 and 2008 and to finance this in part by abolishing mortgage interest relief for new buyers from June 2011. When this proposal has been thoroughly examined and analysed and the findings and recommendations are presented to me, I will decide on the appropriate action to be taken. However, it is unlikely that any measures will be introduced before Budget 2012.