Michael McGrath (Cork South Central, Fianna Fail) | Oireachtas source

Deputy Donnelly has raised an important issue. It is an area I have also examined in the past and I put forward proposals in 2014. It is quite costly to do something on it. The proposal we made in 2014 was for people who bought between 2000 and 2009, whereby 75% of their rental expense could be offset against rental income on the property they own. The cost at the time provided by the Department was €27 million. There are people who are very badly caught and there is no doubt about this. Deputy Donnelly has described their situation very well. They are deep in negative equity, no longer living in the property, renting themselves at a time when rents are spiralling and caught with a hefty tax bill in respect of the rental income on the only property they own. It should be a policy objective to do something for them and help them. They are in an incredibly difficult situation. Deputy Donnelly has acknowledged that his amendment would require some work to define the period in question within which people bought and to ensure they only own one property. Such measures would need to be addressed. Money has not been provided for it for 2017 in the budget, but it should be a policy objective and I look forward to the Minister's response.