Dáil Éireann Debate, Thursday - 5 July 2018
89. Deputy Michael McGrath asked the Minister for Finance if mortgage interest relief is in the base for 2019; if its scaled reduction will be deemed to be a revenue-raising measure as was the case in budget 2018; the amount the revenue generated or cost incurred in 2019 that will be as a result of the scaled reduction in the relief; and if he will make a statement on the matter. [29779/18]
View answerBudget 2018 included the retention for principal private residences for a further three years on a tapered basis through the continuation of 75 per cent of the existing relief in 2018, 50 per cent in 2019 and 25 per cent in 2020.
The tapering of mortgage interest relief results in a revenue yield to the Exchequer that represents a positive discretionary revenue measure valuing €46.5 million in 2019. I can advise the Deputy that this reduction in revenue forgone has been factored into the budgetary arithmetic.
