Thursday, 4 July 2019

Ceisteanna (103)

Michael McGrath

Ceist:

103. Deputy Michael McGrath asked the Minister for Finance the cost of the help to buy scheme to date; the cost of the scheme by each year of its operation; if the cost of continuing the scheme in 2020 is already provided for in the base; his views on the continuation of the scheme; and if he will make a statement on the matter. [28856/19]

Amharc ar fhreagra

Freagraí scríofa (Ceist ar Finance)

The Help to Buy incentive (HTB) was announced in Budget 2017 and backdated to apply from 19 Jul 2016. I am advised by Revenue that the total cost of the incentive to 31 May 2019, the most recent month for which data are available, is in the order of €177.5 million.

I am also advised by Revenue that the cost of the scheme by each year of its operation is as follows:

Year

Cost (€M)

2019*

35.4

2018

73.2

2017

50.5

2016

18.4

*to 31 May 2019

The Help to Buy incentive (HTB) is scheduled to expire on 31 December 2019. This is provided for in Section 477C of the Taxes Consolidation Act 1997. Accordingly, there is no provision in the current budgetary arithmetic in respect of the measure beyond end-December 2019. As is normal practice, the role and operation of the incentive will be examined in the context of the forthcoming Budget and Finance Bill process. It would be premature at this point to anticipate the outcome of that examination.