Thursday, 12 December 2019

Questions (61)

Pat Deering

Question:

61. Deputy Pat Deering asked the Minister for Finance the estimated cost in 2019, 2020 and 2021 of the help-to-buy scheme. [52493/19]

View answer

Written answers (Question to Finance)

Revenue advise me that they publish a monthly update on the cost of the Help to Buy scheme (HTB) for the current year as the data becomes available. The cost of the scheme in 2019 to end November is €93.9 million. This figure will be updated for the entire year in due course and will be available at the following link:

https://www.revenue.ie/en/corporate/information-about-revenue/statistics/tax-expenditures/htb/htb-monthly.aspx

It should be borne in mind that HTB is a demand led scheme which is subject to a broad range of variables, including housing completion rates and prices. However, based on the projected outturn for this year, the estimated Exchequer cost of extending Help to Buy is some €100m per annum for each of the next two years.