Vol. 450 No. 7
37 Mr. E. Walsh asked the Minister for Finance if he will clarify the position in relation to persons in Dublin who hold convenants in order to enable them to support their parents in senior citizens' homes, the abolition of which will result in hardship caused to the families involved; and if he will make a statement on the matter. [5702/95]
I have a number of representations on the difficulties which the proposed 5 per cent income limit on covenanting might present for those caring for incapacitated elderly parents. Having considered the matter, I have decided that the 5 per cent limit on covenanting will not apply in the case of convenants to persons who are permanently incapacitated by reasons of physical or mental infirmity. This change will help all those using covenants to support incapacitated persons. It will be significant benefit to those using covenants to pay for nursing and medical care for their elderly parents.
