Tuesday, 15 May 2018

Ceisteanna (154)

Pearse Doherty


154. Deputy Pearse Doherty asked the Minister for Finance the estimated impact on the 2019 fiscal space of abolishing the help-to-buy scheme. [21180/18]

Amharc ar fhreagra

Freagraí scríofa (Ceist ar Finance)

Help to Buy (HTB) has a sunset clause (31/12/2019). Concluding the scheme a year early would not result in additional budgetary resources, rather it would bring forward budgetary resources that have been assigned to 2020.

HTB is a demand led incentive and, as such, it is not possible to give a precise estimate of cost for 2019. However, at the time of Budget 2017, my department estimated that HTB would cost some €40 million in 2019.

The estimated total value of approved HTB claims at end 2017 was in the order of €68.9 million, of which €16.7 million represents retrospective claims (for the period 19 July to 31 December 2016). The cost of the incentive so far in 2018 (to 1 May) has been some €22 million.