Michael Noonan (Limerick City, Fine Gael)
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The net effect of this amendment is that it would bring forward the availability of the relief by one year and it would also double the cost of the scheme in year one. This incentive represents a measured response to the significant downturn which has been experienced by the construction industry. It is designed to stimulate increased activity in the sector and to boost employment. The backdrop to the measure is the continued pressure on our national finances. With this in mind, it was considered appropriate to spread the cost of the incentive over two years and that the initial cost would begin in 2015. It is also important to bear in mind that the granting of the relief is by reference to payments actually made by homeowners to contractors. It is simply not sufficient to say that works have been carried out. The relief only applies where payments have been made. Taking all of the above into account, I regret that I cannot accept this amendment.

If the credit is split over two years, the lower income individual is also brought into the scheme. A person can have lower income tax liabilities in 2014 and 2015 and avail of the credit.