Tuesday, 21 May 2019

Questions (156)

Pearse Doherty

Question:

156. Deputy Pearse Doherty asked the Minister for Finance the budgetary impact of freezing the phasing out of mortgage interest relief; and if he will make a statement on the matter. [21606/19]

View answer

Written answers (Question to Finance)

It is assumed the Deputy is referring to mortgage interest relief for persons with a qualifying mortgage loan on a principal private residence. This relief is only available on a tapered basis for loans taken out between 2004 and 2012 and will end on 31 December 2020.

I am advised by Revenue that the estimated cost of the relief for 2019 and 2020 is €78m and €37m respectively.

The estimated maximum cost of maintaining the relief at the 2019 level in 2020 is approximately €41m and approximately €78m in 2021 and in subsequent years.