Vol. 502 No. 4
121 Mr. Hayes asked the Minister for Finance the cost to the Exchequer to increase tax relief for a single person in private rented accommodation from the current level of £500 per annum to £1000 per annum; the level of discussions which have taken place between his Department and the Department of the Environment and Local Government on the issue of increasing costs of rent; and if he will make a statement on the matter. [8551/99]
The cost of increasing tax relief for tenants aged under 55 years in private rented accommodation by £500 for a single person with pro rata increases for married and widowed tenants, is currently estimated at £17.5 million in a full year.
The issue of the increasing cost of rents has been the subject of discussions between my Department and the Department of the Environment and Local Government in the context of the Bacon reports on the housing market.
The issue of the tax relief in respect of rent for tenants under 55 years will be considered in the context of overall budgetary policy, having regard particularly to the cost of the additional relief.
