Michael Moynihan
Question:110. Deputy Michael Moynihan asked the Minister for Finance if he has plans to review and expand the current tax incentives for home ownership; and if he will make a statement on the matter. [21512/23]
View answerTuesday, 9 May 2023
Questions (110)
Written answers
As the Deputy will appreciate, decisions regarding tax incentives and reliefs are normally made in the context of the annual Budget and Finance Bill process. Such decisions must have regard to the sound management of the public finances and my Department's Tax Expenditure Guidelines.
Tax reliefs, no matter how worthwhile in themselves, may serve to narrow the tax base and can make general reform of the tax system that much more difficult. While the use of tax measures as a policy tool to increase home ownership may be well-intentioned, Ireland’s history shows the issue of property-based tax expenditures should be approached with caution.
With that said, my Department continues to monitor all aspects of the property market, and I will continue to work with my colleagues in Government to ensure that any further interventions in the housing market are appropriately calibrated, represent the best use of scarce public resources and boost the supply of housing in both the public and private sectors.
Question No. 111 answered with Question No. 84.