Vol. 501 No. 2
295 Mr. R. Bruton asked the Minister for the Environment and Local Government the proposals, if any, he has which would be of help to a married couple on an income of £22,000 to acquire a home in view of the fact their income exceeds the limit for shared ownership for a corporation tenancy and the cheapest houses in the area in Dublin 5 start from £90,000; and if he will make a statement on the matter. [5731/99]
A number of incentives are available currently without reference to income to assist those who wish to acquire their own home including the £3,000 new house grant for first time purchasers buying or building a new home and tax relief on mortgage interest of up to £5,000 per annum in the case of a couple purchasing their first home. The reduction in stamp duty rates on the transfer of residential property in the Government's action on house prices was specifically designed to improve the prospects of those on low incomes to own their first house.
I am examining a number of options to assist lower income potential house purchasers. Crucial to this examination is the need to avoid measures which would increase demand without a corresponding increase in housing supply, as any such measures would only further fuel house price inflation.
