Róisín Shortall
Ceist:112 Deputy Róisín Shortall asked the Minister for Finance the estimated cost in tax expenditures on mortgage interest relief of a quarter percentage point rise in interest rates. [31853/08]
Amharc ar fhreagraThursday, 25 September 2008
Ceisteanna (112)
Freagraí scríofa
As the Deputy will be aware, the determination of interest rate policy is solely a matter for the Governing Council of the European Central Bank, which is independent in these matters. Accordingly, I do not believe it would be appropriate for me to speculate on ECB interest rate movements in 2009 or their impact on the cost of mortgage interest relief for next year. I am informed by the Revenue Commissioners that the cost of mortgage interest relief in 2008 is expected to be approximately €665 million.