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Housing Minister worried help-to-buy scheme is inflationary

Written by Robert McHugh, on 19th Jun 2017. Posted in Property

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In an interview with RTÉ's The Week In Politics yesterday, Minister for Housing, Eoghan Murphy said he is "concerned" that the help-to-buy scheme could be inflationary.
 
The scheme provides first-time buyers with a rebate of income tax of up to 5% of the purchase price of a new home, up to a value of €400,000. The maximum tax rebate available to first-time buyers is €20,000.
 
The Minister said a review is under way to see if the scheme is pushing up house prices, adding that he will make a decision on it when the review is completed.
 
During the interview, the Housing Minister also refused to back the former minister's commitment that all homeless families in Dublin will be moved out of hotel accommodation by 1 July. Last month, then housing minister Simon Coveney reiterated his confidence that the target would be reached.

Speaking on RTÉ's The Week In Politics, Minister Murphy said, "I've demanded a meeting with the heads of the four [Dublin] Local Authorities early this week to see exactly where we are with those numbers. Once I've had that meeting, I will be able to tell people exactly what's going to happen."

Source: www.businessworld.ie

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