Simon Harris (Wicklow, Fine Gael) | Oireachtas source

Interest rates can go up or down, as the Deputy knows. The 20% figure is a useful and appropriate one to have. Obviously, we do not know the outcome of Central Bank deliberations but legislation can change. The 20% figure is in place and I certainly do not believe it would make any sense to lower it. I acknowledge that the Deputy is not suggesting we should. As we have outlined, it is modest enough.

With regard to cash purchases, the measure is being introduced to try to help people who are trying to obtain a mortgage to get on the property ladder. It is for people obtaining mortgages, specifically first-time buyers. I am not sure whether the cash-purchase issue will arise in a very real way for the groups at which the measure is targeted.