Ms Clare Costello:

This is a very new measure. With bringing in the measures, we looked at the evidence and data around tenancies. We looked at things such as the notices of termination that the RTB collects and some CSO data. Once this measure is brought into effect, we will continue to monitor the rental market and whether there is any change in the degree of notices of termination being served or the numbers of properties in the rental market. We will look at things such as the number of buy-to-let mortgages being taken out and how many taxpayer units are returning rented residential income. As part of our ongoing assessment and monitoring of any tax expenditure, we will be looking at data sources such as those. In line with the tax expenditure guidelines, the relief will also be subject to an ex-post review in three years’ time. Therefore, we will be looking at the data in more detail at that stage. As with any tax relief, we will be continuously monitoring it to see the impact it may have on the rental market.