Mortgage Interest Relief Expenditure

Dáil Éireann Debate, Tuesday - 18 September 2012

Tuesday, 18 September 2012

Ceisteanna (334, 335)

Pearse Doherty

Ceist:

334. Deputy Pearse Doherty asked the Minister for Finance the amount spent on mortgage interest relief in 2011. [38928/12]

Pearse Doherty

Ceist:

335. Deputy Pearse Doherty asked the Minister for Finance the amount estimated to be spent on mortgage interest relief in 2012 and 2013 respectively. [38929/12]

Freagraí scríofa

Minister for Finance

I propose to take Questions Nos. 334 and 335 together.

I am informed by the Revenue Commissioners that the cost to the Exchequer of mortgage interest relief for principal private residences by way of tax relief at source (TRS) in each of the years 2011 to 2012 inclusive is as follows:

Tax Year	Cost €m
2011	357.3
2012 (8 months)	267.3*

* This figure is provisional and subject to revision.

The cost to the Exchequer of tax relief allowed for mortgage interest in 2012 is provisionally estimated at €414 million. I am not in a position to provide a forecast of the cost of mortgage interest relief for 2013 at this stage.